According to Freightwaves, "Freight deliveries from Mexico to the United States are soaring as the transportation industry enters the peak holiday season.
With stronger freight demand and higher trucking rates already affecting volumes along the U.S.-Mexico border, logistics professionals expect capacity to be tight the rest of the year and perhaps the early part of next year.
Heading into peak holiday season, 2020 volumes and tender rejections in Laredo, Texas, the busiest inland port along the U.S.-Mexico border, are already well above levels recorded at this time in 2018 and 2019. Consumer packaged goods, apparel, automotive has all been up.
The imbalance of northbound freight out of Mexico compared to southbound freight is one of the largest contributors to the current lack of capacity at the border. It’s caused the price of getting products shipped out of Mexico to rise significantly.
The challenge of imports from the U.S. into Mexico really taper off. What’s happened is you have shippers in Mexico who would, under normal conditions, be buying products that come from the U.S,” Henry said. “In some cases, shippers stopped purchasing that product.
Recent data shows that Mexico’s economy grew 12% in the third quarter, making up for some of the contraction in the previous three months at the height of the coronavirus lockdown. The exchange rate has obviously really deeply affected the imports from the U.S. into Mexico. That has really caused a lot of disruption in the cross-border Mexico market." Freightwaves.
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By: LFS Marketing
November 11, 2020
