FreightWaves is reporting that according to the recently released Bureau of Labor Statistics data, the truck transportation sector in February experienced major job losses, shedding 8,500 positions. Except for the massive drop in April 2020, the only similar decline in truck sector jobs was ten years ago.
News in transportation
US Surface Transportation Board Approves Canadian Pacific Railways’ Acquisition of Kansas City Southern Railroad
The Canadian Pacific Railway and the Kansas City Southern Railroad) jointly announced on Wednesday that the US Surface Transportation Board has issued a decision approving the CP and KCS joint merger application, subject to certain conditions, thereby authorizing the two railways to combine.
Transportation Prices Declined at a Record Pace in February
FreightWaves is reporting that transportation prices in February fell at the fastest rate recorded in the six-and-a-half-year history of a monthly survey of supply chain executives. The Logistic Manager’s Index (LMI) registered a reading of 36.1 for transportation costs in February, 5.9 percentage points lower than in January.
Two Unions Representing 3,000 Canadian National Railway Workers Vote in Favor of a Strike
Two unions currently engaged in contract talks with the Canadian National Railway have voted in favor of strike action, according to reporting by CityNews Calgary. Members of Unifor Local 100 and Unifor Council 4000 voted favorably after contract talks with the railway broke down in February.
Conifex Timber to Temporarily Curtail Production at Its Mackenzie, BC, Sawmill Due to Rail Service Challenges
Conifex Timber announced on Friday that it will be temporarily curtailing production at its Mackenzie, British Columbia, sawmill for a period of up to two weeks. The company cited unsustainable inventory levels due to rail transportation challenges.
US Freight Railroad and Intermodal Usage Slips in 2022
According to data released by the Association of American Railroads on Thursday, the US operations of freight railroads handled 25.4 million carloads and intermodal units in 2022. This is down 2.8% from 2021.
Freight Railroad Strike Averted
The US Senate has passed legislation, 80 to 15, to avert a nationwide Class 1 freight railroad strike that was scheduled to begin at 12:01 AM on Friday, December 9th.
US House Passes Legislation to Prevent Nationwide Rail Strike; Bill Moves to the Senate for Approval
The US House of Representatives today voted to approve legislation that would avoid a nationwide Class 1 Freight Railroad strike scheduled to begin on December 9th. The bill is now headed to the US Senate, where Majority Leader Chuck Schumer voiced his optimism on the bill’s prospects.
President Biden Asks Congress to Prevent a Nationwide Class 1 Freight Railroad Strike or Lockout
With the December 9th deadline for a US Class 1 freight railroad worker strike or operating railroads lockout rapidly approaching, and with 400 trade groups pleading for action, President Joe Biden asked Congress to pass legislation that would compel railroads and unions to adopt the new agreement.
US Class 1 Freight Railroad Update: Final Two Unions Split on Labor Agreement
The two remaining unions representing US Class 1 Freight Railroad workers have completed their voting on the tentative labor agreement. The results were split, increasing the possibility of a rail strike that could start in early December.