FREIGHT MARKET UPDATE | WEEK 41 | 2024

2024-10-09T18:59:37+00:00October 9th, 2024|Freight Market, Freight Talk, Shipping News|
Freight Market Update Week 41 Blank Sailings
Freight Market Update Week 41 East Coast and Canada
Freight Market Update Week 41 East Coast Ports
Freight Market Update Week 41 Midwest and Gulf
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Freight Market Update Week 41 News and Updates

EAST COAST PORTS & WEATHER

Hurricane Helene severely disrupted the U.S. supply chain by forcing the closure of major ports, airports, and rail lines impacting ports in Florida, Georgia, North Carolina, South Carolina, and Virginia.  Damage has been extensive and local transport operations are focused on local recovery efforts.

As of October 8, 2024, multiple ports across Florida have either closed or are operating under strict limitations as Hurricane Milton nears. Port Tampa Bay is working with the National Weather Service, U.S. Coast Guard and state and local partners to monitor the potential impact of Hurricane Milton in the Gulf. At 8 a.m. on Tuesday, Oct. 8, the U.S. Coast Guard set Port Condition ZULU, meaning the possibility of gale force winds could impact our maritime operations within 12 hours. Inbound and outbound vessel traffic to our port has ceased. The port’s shipping channels have closed, but land-side operations will continue as long as safely possible.

Elsewhere, ports in South Carolina are also beginning to shut down or limit their activities, bracing for the storm’s impact after it passes through Florida.

ILA-USMX REACH TENTATIVE AGREEMENT

“The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have reached a tentative agreement on wages and have agreed to extend the Master Contract until January 15, 2025 to return to the bargaining table to negotiate all other outstanding issues. Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume.”

ILA & USMX Joint Statement | October 3, 2024

The end of the 3-day International Longshoreman Association (ILA) dockworker strike will bring gradual relief to the maritime industry, which faced immediate disruptions. While work has resumed, delays due to port congestion and backlogs will continue as container ports process accumulated freight.

With work resumed, carriers have suspended Port Congestion surcharges for the time being. However, carriers are still reviewing the congestion situation and making determinations on whether to implement the announced surcharges.

Stay up-to-date on freight news with Green’s Weekly Freight Market Update by following us on LinkedIn. For continuous updates, make sure to check out our website at greenworldwide.com.

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