FREIGHT MARKET UPDATE | WEEK 32 | 2024
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Week 32 brings some relief as the Panama Canal Authority adds additional daily slots. However, Tropical Storm Debby is creating challenges for the U.S. East Coast with record-level rainfall. Railcar shortages that continue to plague the U.S. Pacific Northwest.
TROPICAL STORM DEBBY
Initially a Category 1 hurricane, Tropical Storm Debby has weakened but continues to produce severe weather across the southeastern US, causing heavy rainfall and catastrophic flooding in Florida, Georgia, and the Carolinas. As the storm slowly moves northeast into Georgia, it brings continued heavy rain and gusty winds. CSX anticipates minor traffic delays in the Southeast, yet its network remains operational, with normal intermodal terminal operations and monitoring of tracks and crossings. The Port of Savannah is closed on August 6, 2024, with a possible late opening tomorrow, and the Port of Charleston will close early on August 7, 2024.
PANAMA CANAL AUTHORITY INCREASES DAILY SLOTS
The Panama Canal Authority increased the total number of transits to 34 per day effective July 22, 2024. Administrators indicated they will add one additional slot this week, bringing the total to 35 daily transits as of August 5. In September, another slot will be added bringing the total to 36 daily transits.
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