Borderlands Mexico: Nearshoring to continue boosting cross-border trucking in 2024

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Nearshoring to continue boosting cross-border trucking in 2024; Careismatic Brands to close Dallas distribution hub, lay off 404 employees; ITS Logistics to open office in Fort Worth; and Aztema begins construction of $240M tire plant in Mexico.

Nearshoring to continue boosting cross-border trucking in 2024

With ongoing economic tensions between the United States and...

Historic trucking rate disparity could cripple service in late ’24

Chart of the Week: Van Contract Initial reporting of average base rate per mile, National Truckload Index removing estimated fuel costs above $1.20/mile – USA  SONAR: VCRPM1.USA, NTIL12.USA

Truckload contract rates (VCRPM1) continue to show strong elevation in relation to spot rates excluding estimated fuel costs above $1.20 a gallon (NTIL12). This historic spread — currently about 30% versus about 12% in 2019 — suggests there is an extraordinary amount of potential disparity among rates in...

Opposition grows to speedy electric truck transition

The Advanced Clean Transportation Expo, a generally upbeat event for battery electric, hydrogen and other emission-friendly technologies, takes place next week in Las Vegas amid a growing and widespread backlash to the regulation-driven transition to electric trucks.

Nearly every stakeholder — from the trucking industry and driver organizations to state attorneys general — is weighing in with dire estimates of crippling costs to a cyclical industry. Ryder System Inc. is the latest, dissecting...

Relocalize aims to eliminate middle-mile logistics with microfactories

Montreal-based Relocalize has announced the second closing of its $2.3 million seed funding round to help prepare its autonomous production platform for growth. With the closing of its seed extension on Wednesday, the company has raised a total of $5.8 million since September.

Relocalize’s seed extension funding round was spearheaded by Desjardins Capital, with ongoing support from initial seed investors, including i4 Capital, Waterpoint Lane and RGS Ice. 

The clean-tech startup aims to...

FreightTech Friday: Harbor Lab modernizing accounting for vessel operators

Athens, Greece-based Harbor Lab has raised $16 million to continue working toward streamlining vessel accounting practices with AI technology.

Atomico led the Series A with participation from existing investors Notion Capital, Venture Friends, Speed Invest and The Dock. New investors included Endeavor Catalyst and TMV.

“Harbor Lab’s platform gives peace of mind to shipping companies by enabling them to run critical parts of their operations in a more seamless, transparent and efficient way. It is...

ATA red-flags DOJ’s proposed marijuana policy change

WASHINGTON — The Biden administration’s anticipated move to recategorize marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act will likely lead to more truck crashes unless safeguards are put in place, the American Trucking Associations has warned.

White House press secretary Karine Jean-Pierre announced the Justice Department’s notice of proposed rulemaking (NPRM) to reschedule the drug at a press briefing on Thursday.

“If finalized, marijuana will no longer hold...

GoodShip raises $8M to ramp up procurement platform features

Procurement platform GoodShip announced on Thursday that it has closed an $8 million Series A funding round. Bessemer Venture Partners led the round, with participation from existing investors Ironspring Ventures, Chicago Ventures, Fuse VC and Cercano Management. New investors include 53 Stations as well as angel investors Nichole Wischoff and Andrew Silver.

Since its founding in 2022, the platform has raised $15.4 million. It aims to provide shippers with transparency into their freight data...

High school seeks truck driver exemption for students under 18

WASHINGTON — An eastern Washington high school has petitioned federal regulators to let 17-year-olds enrolled in its CDL program obtain a commercial learner’s permit (CLP) to help students get a truck driver job immediately upon graduating.

Officials from Connell High School (CHS) in Connell, Washington, told the Federal Motor Carrier Safety Administration that with the exemption, students in the program would obtain a CLP and receive 180 hours of classroom, field and drive time instruction...

Google executive says supply chain uses of generative AI flourishing

SAN ANTONIO — The Momentum conference brings together roughly 1,000 attendees who use the industry-leading warehouse, TMS and other capabilities of Wall Street darling Manhattan Associates (NASDAQ: MANH). (The company’s stock rose from about $110 at the end of October 2023 to as high of $266.94 in early March before falling back to $225 recently.) 

But among the discussions of new product offerings at this year’s conference, it was a presentation by an outside executive that filled the main...

Latest Uber Freight launch combines marketplace and managed services networks

ARLINGTON, Texas — Managed transportation and freight technology provider Uber Freight on Wednesday launched a spot market solution under its premier offering Uber Freight Exchange.

Uber Freight Exchange was initially released in September as a contract procurement platform enabling shippers to run bids with both their own and Uber Freight’s carrier network. At the time, the product brought Uber Freight’s technology to the contract market while providing messaging tools, bid functions and...

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.