Baltimore Bridge Incident:
— A limited access channel for smaller vessels is on track to open at the end of April. This temporary channel will be 280 feet wide and 35 feet deep to the Port of Baltimore. It’s expected to restore around 15% of the original commercial activity to the port but is welcomed news to industry stakeholders.
— Since April 19th, over 1,300 tons of debris has been removed from the Patapsco River, reports say. In addition, 120 containers have been taken off the Dali – the cargo ship that collided with the bridge.
Domestic Market Updates –
- As of April 22nd, the average price of diesel was $3.992 a gallon.
- Seeing a 2.3 cent decrease from last week.
- Seeing a 2.3 cent decrease from last week.
- Container operations at the Port of Portland expected to be suspended in October as lack of state funding, financial losses keep increasing, and a search to find a permanent third-party operator have failed.
- Agricultural and seafood shippers that use the port will have to truck goods through other ports – which will increase costs – starting in October.
- The port will still handle Ro/Ro car and vehicle ops and break bulk/heavy cargo.
- BNSF moved 14% more intermodal volume through their facilities year-over-year.
- U.S. railways moved $15.6 billion in freight throughout January 2024 – this is down almost 7% from January 2023.
- South Carolina Ports saw a 17% increase in loaded imports in March, plus a 12% year-over-year increase.
- Rail moves at Inland Port Greer saw a 22% year-over-year increase.
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