A Florida-based trucking company filed for Chapter 11 bankruptcy protection recently, owing truck drivers nearly $55,000 in back wages. Makena Trading Corp., doing business as Makena Express, of Pembroke Pines, Florida, filed its petition in the U.S. Bankruptcy Court for the Southern District of Florida last Monday. Makena Express, which has eight tractors and nine…
The Port of Los Angeles’ sales pitch to importers in recent months has been: We have plenty of capacity now. No more ship queues. The port labor contract expired July 1, 2022, but there has been no major disruption to imports during negotiations on the new contract. No need to ship your goods all the…
Borderlands is a weekly rundown of developments in the world of U.S.-Mexico cross-border trucking and trade. This week: LG Energy Solution is building a $5.5 billion EV battery plant in Arizona; a France-based auto parts maker opens a $147 million plant in Mexico; Nuevo Leon opens a $100 million “peripheral” highway; and an Arizona port…
Chart of the Week: National Outbound Tender Reject Index – USA SONAR: OTRI.USA For the first time since the economy was shuttered in the early phases of the COVID-19 pandemic, the national Outbound Tender Reject Index (OTRI) has fallen below 3%, making early 2023 the softest sustained truckload market since the tender data history began in early 2018. …
The port of entry in Laredo, Texas, regained the No. 1 spot among the nation’s 450 international gateways for trade in February. It’s the first time since February 2020 that Laredo was the No. 1 overall trade port in the U.S. Laredo recorded $24.6 billion in two-way trade, with Mexico commerce accounting for $23.9 billion,…