Commerce Express Weekly Road Map: June 7th, 2022
Keeping you informed on the latest news/insights in our industry.
Commerce Express Blog
- Class 8 orders in North America have fell to 14,000 units, ACT Research reported, which they say is due to “long backlogs and supply chain-constrained production continuing to keep new orders trending within a narrow range.” Additionally, many truck makers are unsure that they can increase production in the second half of 2021, which is a main reason they are not able to take more orders, Transport Topics reported.
- The price of diesel has increased 16.4 cents in the past week coming to a national average of $5.703 per gallon, FleetOwner reports. This jump in the price of diesel comes after three straight weeks of minor declines. Furthermore, the main fuel for trucking remains $2.429 more per gallon than it did a year ago, data from the Energy Information Administration’s (EIA) latest data showed.
- The Federal Motor Carrier Safety Administration (FMCSA) has increased funds for commercial vehicle safety efforts. Funding to state and local law enforcement and other government agencies for safety inspections of trucks and buses, investigations of motor carriers in response to safety concerns, and audits of new trucking and bus companies are all part of the FMCSA grant program, Trucker News reports, and all 50 states, the District of Columbia and U.S. territories will receive federal funds.
With hurricane season approaching what are some ways for truckers to prepare?
A few ways truckers can prepare for hurricane season is prioritizing safety, watching out for flood zones, making sure their vehicles are fully fueled, and staying up to date with weather forecasts and advisories.
I would like to request a quote for a domestic shipment I have, how do I go about putting in this request?
Click the ‘contact us’ button below and it will take you to our website, where you will then fill out and submit our request a quote form.
- Pan Am Railways, a New England short line is now an official part of CSX. This comes after the Surface Transportation Board approved CSX’s request to acquire Pan Am, Freightwaves reported. Furthermore, in a January hearing, they don’t anticipate any job losses from the acquisition. This acquisition will boost CSX’s reach into the Northeast region, with Pan Am operating Connecticut, Maine, Massachusetts, New Hampshire, New York and Vermont – areas CSX did not have direct access to before, Freightwaves notes.
- The Port of Baltimore recently received a near $15.7 million dollar federal grant from the U.S. Federal Railroad Administration (FRA), which will fund new on-dock railroad tracks and lifting equipment – this will help the port with their long-term plan to boost their intermodal reach, the Journal of Commerce reported. Specifically, the grant will be going towards adding four on-dock rail tracks and two crane rail beams. As well as a $6.7 million dollar match to funding providing by Ports America Chesapeake, which operates Baltimore’s Seagirt Marine Terminal, reports say.
- The Biden Administration announced over $368 million for rail infrastructure improvements for 46 projects in 32 states, including the states of Georgia, Maryland, North Carolina, Kansas, Florida and Michigan, the Hill reported. Within these grants nearly $58 million will go towards building a Raleigh to Richmond rail, nearly $6.2 million in Georgia to replace around 18 miles of rail, nearly $15.7 million in Maryland to improve port of Baltimore rail capacity, and $21.3 million to install over 4 miles of new rail in Michigan, the Hill stated.
- May rail round up: For the month of May, carloads, containers/trailers, and intermodal originations in May 2022 were all down from May 2021, the Association of American Railroads reported; down 3.7 percent, down 4.3 percent, and down 4 percent, respectively. Additionally, total U.S. weekly rail traffic for the week ending on May 28th, was 514,277 carloads and intermodal unit – down 3 percent compared to the same time last year. While U.S. weekly intermodal volume was at 280,644 containers and trailers – down 2.2 percent compared to the same time last year, the AAR reported.