Market Updates: April 2nd, 2024

Trucking –

  • As of April 1st, the national average price of diesel is $3.996.
  • Amidst the bridge collapse in Baltimore, chassis providers feel confident that the current equipment pools are sufficient and can adjust to cargo diversions away from the port of Baltimore.
    • They do however, caution, that chassis could be occupied longer if the drayage haul is longer than usual due to containers landing at other ports.
  • City of Baltimore is asking truckers to refer to the GIS map for the latest route information at Baltimore City Official Truck Routes.
    • This is an effort to decrease the impact of traffic changes from the collapse of the bridge earlier last week.
    • Commercial vehicles hauling oversize or hazmat cargo should look to using I-695 between Essex and Glen Burnie – additional driving time is expected by using this route, however.

Rail –

  • Port of Vancouver has been dealing with some rail backlogs. Improvements have been made in recent weeks, but it’s likely that it will take some time for the backlog to clear.
    • BNSF is also working through some rail backlogs in Southern California. Largely due to the increase of container volume on the USWC, as less volume has been going through the Panama Canal.
  • Railways moved $15.6 billion of freight in January 2024, down 6.9% compared to January 2023.
  • Federal Transit Administration has opened public comment, till May 24th, on a proposed rule to improve rail transit worker safety.
  • CSX is adding a new route, starting April 2nd, for rail freight that was originally destined to Baltimore but will now be rerouted to the Port of NY/NJ.
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