Market Updates: Mar. 19th, 2024

Trucking –

  • As of March 18th, the national average price of diesel is $4.028 a gallon.
    • Seeing a 2.4 cent increase from last week.
  • Class 8 truck orders increased in February, per ACT Research data, by 17.4% (27,700 units).
  • 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 –

  • Members on the transportation committee in the U.S. House are looking to their colleagues to help advance rail safety actions.
    • This comes as efforts to pass the Railway Safety Act continue – read more here.
  • Port of Huntsville – an inland port in North Alabama – moved over 27,500 rail containers last year; a 24% year-over-year increased compared to 2022.
    • So far in 2024, the port has recorded 2,569 rail lifts in January; a 6% year-over-year increase from January 2023.

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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