SCS Weekly Rundown | August 6th, 2024
Laredo Sets New World Bridge Minimum
The rule aims to cut down on traffic by requiring an account minimum to pass.
Laredo, Texas, has introduced a new rule mandating trucking companies using the World Trade Bridge to keep a set minimum balance in their accounts to help prevent delays due to insufficient funds. This measure seeks to eliminate frequent traffic delays and improve overall operational efficiency at the border crossing, supporting smoother trade and transportation.
Dive into the details of this new rule here.
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Gap in Trucking & Warehousing Jobs Widens
Transportation jobs are down by more than 30,000 from this point last year.
Truck transportation jobs declined for the fourth consecutive month, losing more than 30,000 positions over the course of the past year, while warehousing and storage jobs have increased by 10,700 in July. The overall unemployment rate in the Transportation and Warehousing sector rose, reflecting a set of much broader economic challenges.
Get all the information on this logistics trend here.
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Senate Shuts Down Trucking Assistance Bill
Despite having bipartisan House support, the bill fell after reaching the Senate.
Senate Republicans blocked the bipartisan Tax Relief for American Families and Workers Act of 2024, which included accelerated and bonus depreciation provisions beneficial to truck owner-operators. The bill's failure was due to political timing and lack of compromise, with future consideration likely to follow in the next Congress.
Learn more about this story here.
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Q2 Air Cargo Carrier Revenues On The Rise
Major airlines are reporting significant revenue growth from the previous quarter.
Airline cargo businesses saw some significant improvements in Q2, with Delta, United, and Lufthansa all reporting substantial revenue gains. Even in the face of increased expenses, Lufthansa Cargo's revenue still rose, anticipating a strong peak shipping season. United and Delta also benefited from the recovering air cargo market and growing e-commerce demand.
Explore this trend more in depth here.
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