Market Updates: May 21st, 2024

Domestic Market Updates –

  • Diesel update: As of May 20th, the average price of diesel was $3.789 a gallon. Seeing a 5.9 cent decrease from last week, per the EIA.
  • Ports: SC Ports continue to see their software systems get back online, after identifying a software issue on Saturday. The latest update, according to the port’s website, is no cargo can be picked up or dropped off while they continue to work through this. They will have another update at 10 a.m.
  • Labor: The Canada Industrial Relations Board (CIRB) is assessing if a potential strike by CN and CPKC rail workers could impact the health and safety of Canadians, per the JOC. This ongoing situation delays the potential strike, which could have taken place as early as May 22nd. Take a closer look at these negotiations.
  • Equipment: Recent data shows U.S. Class 8 truck sales reach a double digit decline (13%) in April, per Ward Intelligence.
  • Baltimore Bridge: Access to the Port of Baltimore remains on track to be accessible by the end of May, per the U.S. Army Corps of Engineers.
  • Ports: Delaware plans to expand and add a new terminal in Edgemoor, with the ability to handle 1.6 million TEUs.
  • Ports: The Port of Portland’s container service may continue after all, as Oregon governor proposes funding to allows those service to be maintained. How did we get to this point? Read this blog for more information. 
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