In this Week 19 Freight Market Update, we explore the impact of a potential labor strike in Canada, the Paris Olympics, and Key Bridge responses to supply chain delays along with the slight relief rainy season has brought to Panama Canal operations.
PARIS OLYMPICS 2024
The upcoming Olympic and Paralympic Games in Paris will have a significant impact on traffic in the city and the surrounding Île-de-France region. From mid-April to October, expect traffic disruptions and delays due to these events. Carriers have already begun implementing surcharges for transportation through the Île-de-France area, so be prepared for potential reroutings.
POTENTIAL CANADA PORT LABOR STRIKE
Canadian Pacific Kansas City (CPKC) and Canadian National Railway (CN) continue to negotiate with the Teamsters Canada Rail Conference. There is no agreement in place. The earliest date for a potential work stoppage is May 22, 2024. Rail cargo will be impacted in the event of a work stoppage and contingency plans should be prepared in advance to mitigate shipping delays. USWC space is already getting tight as more inland cargo volumes are switched from Canada-routing due to concerns of this potential labor action.
PANAMA CANAL OPERATIONS
To meet the increasing demand for transits, the Panama Canal Authority has made adjustments by increasing the number of daily slots available in the Panamax Locks from 24 to 27. This change aims to accommodate the growing volume of cargo passing through the canal efficiently. As volumes moving through the Panama Canal increase, carriers have reinstated the weight restriction on USEC services.
PORT OF BALTIMORE RECOVERY EFFORTS
Salvage operations are still underway following the collapse of the Francis Scott Key Bridge, resulting in continued closure of bookings to the port. Temporary channels have been established for essential vessels, but only during daylight hours and at the discretion of the Captain of the Port. New York and Norfolk space is getting tight with the increased cargo volume from Baltimore. Officials are hopeful that ocean vessel traffic may resume as early as June, signaling a potential step toward recovery for the port.
Green Worldwide Shipping’s Freight Market Update covers port information, import and export news, vessel wait time and cargo vessels at major ports & more. For continuous updates, make sure to check out our website at greenworldwide.com.
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