SCS Weekly Rundown | June 11th, 2024
Laredo's Growth From China-to-Mexico Boom
Increased trade between China and Mexico provides a boost to Laredo's economy.
This rise in container exports from China to Mexico has greatly benefited Laredo, TX, as more goods are being shipped through this key port of entry. Import container bookings from China to Mexico have surged over the past five years, increasing cross-border freight activity. This growth has led to substantial warehouse construction and high occupancy rates in Laredo, highlighting the city's expanding role in this supply chain.
Learn more about this city's growing importance here.
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NY Trucking Congestion Fee To Be Phased Out
This decision aims to avoid unfairly burdening working and middle-class families.
Governor Kathy Hochul has indefinitely paused the Metropolitan Transportation Authority's planned congestion pricing for Manhattan after a federal lawsuit from the Trucking Association of New York. The lawsuit argued the fees would unfairly burden drivers. The congestion fees, initially set to start June 30, would have imposed tolls on vehicles driving below 60th Street.
Read more about this situation here.
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Freight Carrier Concerns In An Evolving Market
Navigating a range of challenges, from insurances costs to regulatory compliance.
The freight industry faces slow recovery amid economic challenges and market saturation, impacting carriers' profitability. Additionally, the lack of secure truck parking exacerbates safety and financial issues for drivers, underscoring the need for better infrastructure and strategic partnerships to thrive in the current environment.
Explore these concerns more in depth here.
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Class 8 Truck Orders Heavily Surged in May
Truck orders spiked heavily, indicating a steady demand despite market ebbs and flows.
Both ACT Research and FTR reported strong net orders for Class 8 trucks in May, with significant increases from April and the previous year. FTR's data showed a notable rise month-on-month and year-on-year, while ACT Research noted even higher growth. This sustained demand, despite a stagnant freight market, suggests moderate performance above replacement levels, easing fears of a sharp decline.
Dive into the full story by clicking here.
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