Long Beach container ships stranded in ports, Amazon warehouses frequently not serviced by rail and trucker shortage, lack of communication with shipping chain and Covid's effect on labor. Is there a way out of this mess?
Moderator: Jeff Smith
.... Chief Executive Lance Fritz said that the railroad company had been planning for the Covid-19 pandemic to have a smaller impact as the months progressed and felt that it had enough workers and resources to overcome any lingering effects..... CSX Corp. has also faced staffing issues due to a combination of difficulty attracting new workers and existing ones staying home because of Covid-19 infection or exposure. It has been offering $3,000 referral bonuses to existing workers for recommending new hires.However, despite the constraints arising from COVID, UP Fourth Quarter '21 earnings best '20, but we should note, Omicron impacted only December.
CSX added 150 transportation employees in the fourth quarter and said it is on track to add 300 more in the coming months. ....
Tens of thousands of container loads of cargo that would normally move on railroads are being hauled on American roads each month as companies look to get around continuing supply-chain bottlenecks.This shipping crisis could have been a chance for the industry to "shine", and win new high value business once the crisis has alleviated. Instead, they're losing business they previously enjoyed.
U.S. intermodal transports, in which railroads carry containers and truck trailers, were down nearly 12% in the first six weeks of this year from a year ago, according to the Association of American Railroads, after tumbling in the second half of last year even as retailers and manufacturers rushed to bring in goods.