Market Updates: Mar. 12th, 2024

Trucking –

  • As of March 11th, the national average price of diesel is $4.004 a gallon.
    • Seeing a 1.8 cent decrease from last week.
  • Class 8 truck orders increase in February, per ACT Research data, by 17.4% (27,700 units).
  • Interstate 55 bridge between Arkansas and Tennessee will be closed for two weeks, as construction projects continue.
    • The closure is planned to last from Sunday March 10th to Sunday March 24th.
  • Norfolk Southern is addressing truck congestion that has been occurring at their Landers terminal in Chicago.
    • NS is working to re-engineer staffing levels and shift changes to “better align with increased gate activity.” Drivers have been frustrated with multi-hour delays in the afternoon and evening when picking up import containers reports the JOC.

Rail –

  • A Norfolk Southern train derailed in Pennsylvania a couple weekends ago.
    • Diesel fuel and polypropylene plastic pellets spilled into the Lehigh River. No injuries to the crew. There were no evacuations or hazardous material threat to the community. 
  • Union Pacific announced last week they would add intermodal service from Barbours Cut Terminal in Houston to Dallas and Phoenix.

Cross-Border –           


  • Major ports in Mexico moved 728,116 TEUs in January – a 20% increase from January last year.
  • Mexico was the U.S. top trading partner in January. Mexico was the top trading partner for the U.S. in 2023.
    • Top U.S. exports to Mexico were auto parts, passenger vehicles, and tractor-trailers and buses.
    • U.S. – Mexico trade increased by 1.1 year-over-year from January last year.
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