1161 words 5 minute read – Let’s do this!
There are only 2 more Market Updates left in 2024 – News is a little slow and we could have a nice little calm before the storm until January 15th strikes, no pun intended. You are going to want to be ahead of the potential disruptions ahead. We encourage you to subscribe to the Port X Logistics LLC LinkedIn page for more helpful industry information and up to date news and solutions for your supply chain, and to get on the list for this weekly Market Update Newsletter and future industry related news sent direct to your inbox email Marketing@portxlogistics.com
On Monday, Canadian National Railway (CN) announced that it has reached a tentative agreement with the union representing nearly 3,300 employees working in “mechanical, clerical, and intermodal functions,” likely preventing potential job action. In a press release, CN said a tentative four-year collective agreement had been made with Unifor, pending ratification by union members. Terms have not been publicly released ahead of the ratification vote. The current contract expires on December 31st.
In a letter issued Monday to its members, Unifor Council 4000 said it was “pleased to announce that a tentative agreement had been reached” following “extensive bargaining focused on securing meaningful gains for members. We recognize the challenges faced during this round of negotiations and thank members for their continued solidarity and patience as we worked to achieve a deal that meets your needs. This agreement marks a significant step forward in securing improved conditions and protections for Unifor members at CN. The ratification vote is expected to be held in the coming weeks. Labor Minister Steven MacKinnon praised the parties for reaching an agreement. “Thank you to the parties for putting in the work to get a deal and to federal mediators for their support. Negotiated agreements are always the best way forward,” MacKinnon said in a post on X.
Import TEUs are down 11.52% from this week from last week – with the highest volumes coming into Los Angeles at 21.9%, Long Beach at 15.9% and Newark at 10.9%. December imports are now projected at 2.14 million TEUs, up 14.3% year over year. Last month, retailers said December’s year-over-year gain would be 6.1%. The National Retail Federation (NRF) now expects January imports to jump 12% compared with January 2024, up from the 2.5% gain forecast last month. February’s imports are expected to fall 4.1% year over year, although that’s an upgrade from the 9.3% decline originally forecast. March volumes are expected to jump 12.7% and April by 6.6% compared with the same months in 2024, according to the GPT. Total U.S. imports for 2024 are now projected at 25.6 million TEUs, up 14.8% from 2023, the NRF said.
The most recent data available from PIERS showed October imports climbing 10% over the year, maintaining a months-long pattern of double-digit year-over-year increases. October marked the 18th consecutive month of US imports above 2 million TEUs. If NRF forecasts come to fruition as projected, November and December imports will break the pandemic-era record of 19 straight months.
Shippers are working to move goods ahead of a potential January 15th strike by the International Longshoremen’ s Association (ILA), the threat of new tariffs by the incoming Trump administration, and an early Lunar New Year holiday on January 29th. Whenever supply chain disturbances directly affect the market like union uncertainty, remember Port X Logistics can play a role in helping to improve the flow of your supply chain – We are the Gold Standard in drayage, transloading and trucking. We track your containers from the time they leave overseas, dray your containers from all port locations and transload with plenty of photos provided and load to outbound trucks for the fastest over the road delivery with a shareable tracking app to track drivers all the way to final destination. Transload orders have been piling up as many shippers have been taking the early initiative to speed up deliveries whether it was an ocean delay or to avoid the rails, but we have all the capacity in the world for you! If you want more information on how you can get your cargo diverted at the port and on the road for a speedy delivery with full visibility contact Letsgetrolling@portxlogistics.com.
What’s happening at the ports and rails?:
You can find all the information on the below link where we cover port congestion, chassis issues and capacity lead times weekly at all U.S. and Canada Ports and rail heads on our website – click on the link below
CLICK HERE For Port & Rail Updates
Seattle/Tacoma: The Ports or Seattle and Tacoma are hot capacity spots for us – if you want to learn how shipping through the SEA/TAC ports can benefit your supply chain and if you are looking for an all-star drayage/transload warehouse team, our Seattle operation has plenty of drayage capacity with the addition of 11 new drivers and a huge amount of warehouse capabilities for ongoing transloading projects. Contact Letsgetrolling@portxlogistics.com for capacity and great drayage and warehouse
Chicago: Slight congestion at NS Landers, expecting to increase with current excess rail dwell – Our Chicago asset drayage team has full capacity to get your Chicago containers moving. We have 80 trucks and secured yard space and we are able to secure permits to haul heavy containers. For great rates, capacity and supreme customer service contact the team at Letsgetrolling@portxlogistics.com
Did you know? As we recently announced – we’re thrilled to be heading back to TPM, one of the world’s biggest logistics conferences, and we’re bringing a great time to the promenade! Here’s what you can expect at our booth:
✨ Our Yearly Giveaway – Don’t miss your chance to enter this year’s giveaway!
💻 Live Tech Demos – See our custom tech solutions in real-time and get excited about how we’re redefining efficiency and making things easier for YOU.
🎤 On-Site Interviews – We’ll be chatting with long-time customers as well as new friends to share real-world insights from all around the industry.
🎉 A Few Surprises – We can’t spill all the beans just yet, but trust us, it’s going to be worth stopping by!
Whether you’re a first-time attendee or a long-time TPM champ, we’d love to connect, chat, and have a great time together!
As always, you can find us on the promenade, right outside the conference center across from the Hyatt Regency. See you there! 👋
Contact marketing@portxlogistics.com for more information and to set up meetings with our onsite sales team.
SONAR Import Data Images
