Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Exports of Mexican-built cargo trucks up 34% in May; a California commercial border crossing project receives $140 million; Mexico opens a $175 million highway project to boost trade with Texas; and a U.S. logistics firm is…
Chart of the Week: National Truckload Index Linehaul Only, Outbound Tender Rejection Index – USA SONAR: NTIL.USA, OTRI.USA The average dry van truckload spot rate excluding the estimated cost of fuel (NTIL) has increased 4.2% since the end of April, while carrier contracted load rejection rates are still near all-time lows. While overall capacity is still extremely loose,…
New details have emerged about Tiger Cool Express’ financial health leading up to the company’s abrupt closure on Tuesday. A source familiar with the situation at the now-shuttered refrigerated rail shipping and logistics firm said Tiger Cool Express refinanced its equipment with Wells Fargo Bank a few years ago. The company had more than 700…
Electric truck maker Nikola Corp. laid off 270 workers Friday as its cash to run the business shrinks. The moves came a day after convicted founder Trevor Milton took shots at company leadership on social media. The layoffs affected about 150 employees at multiple sites. They spent at least part time supporting the company’s manufacturing…
The American Petroleum Institute (API) is calling on the U.S. Environmental Protection Agency (EPA) to modify plans for greenhouse gas standards that apply to heavy-duty vehicles – arguing that the […]