Nuvocargo

Tesla’s arrival in Mexico could boost cross-border trade by $15B

For U.S.-Mexico trade, Tesla Inc. could prove to be the gift that keeps on giving.

With the automaker recently confirming that it’s building a $5 billion factory in the northern Mexican city of Monterrey, trade experts said Tesla is already influencing cross-border logistics and trucking.

“Tesla’s impact on Mexico can already be felt long before they actually open their Mexico gigafactory,” Jordan Dewart, president of logistics operator Redwood Mexico, told FreightWaves. “After Tesla’s move to...

Borderlands: Texas fleets seek out foreign drivers to solve labor shortage

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Texas fleets seek foreign drivers to solve labor shortage; Nuvocargo names new head of engineering; Union Pacific-sponsored training center to open in New Mexico; and Mexican resident pleads guilty in double-brokering scheme.

Texas fleets seek out foreign drivers to solve labor shortage

A lack of available workers willing to drive trucks has become so severe in South...

https://www.freightwaves.com/news/texas-fleets-seek-out-foreign-drivers-for-labor-shortage

Borderlands: New customs requirements in Mexico complicate trade industry

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: New customs requirements in Mexico complicate the trade industry; U.S. rail manufacturers accuse China and Mexico of unfair import pricing; the Port of Corpus Christi partners with Mitsubishi for an ammonia plant; and FedEx offers discounted rates to shippers in Mexico.

New customs requirements in Mexico complicate trade industry

It has been more than a year since...

https://www.freightwaves.com/news/new-customs-requirements-in-mexico-complicate-trade-industry

Borderlands: Tribal aims for Latin American SMBs using blockchain, crypto

Tribal aims for Latin American SMBs using blockchain, crypto

The global cross-border payment market totaled $903 billion in 2021, and the worldwide blockchain and cryptocurrency market is expected to reach $23 billion by 2028, according to Vantage Market Research.

Fintech companies such as San Francisco-based Tribal see big opportunities in challenging established payment services for cross-border trade using blockchain and cryptocurrencies.

While cryptocurrencies have been under fire in recent...

https://www.freightwaves.com/news/tribal-aims-for-latin-american-smbs-with-blockchain-crypto

Borderlands: Skyrocketing diesel prices affecting US-Mexico import rates

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Skyrocketing diesel prices could affect US-Mexico import rates; South Texas College partners with a carrier to offer CDL training; Logistics Plus opens a 542,000-square-foot warehouse in Arizona; and exports of Mexican tequila soar 32% during the first four months of 2022.

Skyrocketing diesel prices affecting US-Mexico import rates

The price of diesel fuel hit an...

https://www.freightwaves.com/news/skyrocketing-diesel-prices-affecting-us-mexico-import-rates

Borderlands: Vaccine mandate has varied impacts on Mexico cross-border trucking

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Vaccine mandate has varied impacts on Mexico cross-border trucking; Texas toll road truck traffic rises 57% year-over-year; Chinese ATV maker to build $152M plant in Mexico; and drug seizures surge at Texas-Mexico border.

Vaccine mandate has varied impacts on Mexico cross-border trucking

New regulations banning unvaccinated truckers from crossing the U.S.-Mexico border...

https://www.freightwaves.com/news/vaccine-mandate-has-varied-impacts-on-mexico-cross-border-trucking

Check Call: Pour one out for the fallen homie

Hot Take

Photo: Jim Allen/FreightWaves

It’s the end of an era. Central Freight Lines is closing its doors for good – 96 years after opening for business. The Texas-based company has taken a bit of a different approach to the closure versus the last major carrier closure of Celadon. Central Freight has stopped picking up shipments, and finishing out delivering the loads they have in their system. Approximately 70% of their business was 3PL-based.

Some say the writing was on the wall for Central...

https://www.freightwaves.com/news/check-call-pour-one-out-for-the-fallen-homie

Nuvocargo raises $20.5M to boost trade between US and Mexico

Cross-border startup Nuvocargo announced Friday that it has raised $20.5 million in a funding round led by Tiger Global Management.

Deepak Chhugani, Nuvocargo’s founder and CEO, said the company didn’t need the capital since it still had most of the $12 million it raised in a series A round in April.

“Tiger showed real conviction and moved fast with their term sheet even though we were not raising,” Chhugani said in a statement. “We deeply respect their approach to investing and it was a great...

https://www.freightwaves.com/news/nuvocargo-raises-205m-to-boost-trade-between-us-and-mexico

Border: New customs requirements for Mexico shipments begin Wednesday

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: New customs requirements for Mexico shipments begin Wednesday; Samsung announces $17B semiconductor plant in Texas; Great Lakes Dredge & Dock secures $92M contract for Houston Ship Channel; and Truck driver charged in record-breaking border drug seizure.

New customs requirements for Mexico shipments begin Wednesday

Hoping to quell a rising tide of smuggled goods and...

https://www.freightwaves.com/news/new-customs-requirements-for-mexico-shipments-begin-wednesday

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