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Canadian railways reported a sharp drop in container shipments during the B.C. port strike, which halted more than half of container cargo. CN's revenue ton miles fell 60% in the first week of the job action and CPKC's fell 45%.
A tentative deal reached on Thursday is expected to end the strike.
Container disruption raised shipping costs and delayed export containers, including grain and oilseed shipments, which tends to lift ocean freight rates while the backlog lasts.
ombalicargo.comAug 18, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
