Table of contents
Topic of the week:
Uber Freight, a logistics platform, has expanded its presence in Mexico, opening a new office in Nuevo Laredo and increasing its workforce in the country. The company has also appointed Jesus Ojeda, former senior vice president of customs solutions at Transplace, as executive vice president of Mexico operations.
Uber Freight has achieved 77% growth in US-Mexico cross-border business, managing over 2,000 daily shipments and processing over 25,000 monthly customs entries. Ojeda attributes this growth to the nearshoring trend, where companies are shifting production and manufacturing to Mexico to be closer to the US.
The company has over 1,300 employees in Mexico dedicated to cross-border operations, with 300 team members added this year. The new office in Nuevo Laredo will focus on Mexican customs clearance for cross-border freight, with a team of executive customer service reps, customs experts, and trade compliance specialists processing documents.
Uber Freight has also expanded its warehouse space in Mexico, now managing 1.5 million square feet, making it one of the largest providers of cross-border warehousing solutions in the country. Warehouse space is in high demand along the border, especially in Laredo, where outbound tender volumes are up 3.3% year over year.
Ojeda expects organic growth in Mexico, driven by new customers investing in the country and existing customers expanding their operations. He also sees growth in various industries, including industrial manufacturing, consumer packaged goods, and retail.
To support its growth, Uber Freight has launched an innovation centre in Mexico City, designed to accelerate technological advancements and optimise logistics solutions in the region. Ojeda believes technology has been instrumental in making cross-border logistics more efficient, providing visibility and end-to-end tracking for customers.
As the freight market continues to evolve, Uber Freight is well-positioned to capitalise on the nearshoring trend and growing demand for cross-border logistics services in Mexico.
Sea:
- Over the last two weeks China/East Asia to North America West Coast spot rates have decreased by 8.7% from $5,759/FEU to $5,256/FEU according to Freightos data.
- China/East Asia to North America East Coast spot rates have fallen over the last two weeks, decreasing by 12% to $5,933/FEU.
- Global container spot prices have fallen over the last two weeks, and are now sitting at $3,413/FEU, a 10.1% decrease over the last two weeks and a 218% increase from spot rates this time in 2023 according to the Freightos Baltic Index (FBX)
Air:
- Global Air Freight spot rates currently sit at $2.62, as rates continue to fluctuate according to the Freightos Air Freight Index (FAX)
- Europe to Northern America spot rates currently sit at $1.79 (100-3000kg), says FAX, increasing by 3.3%
- Europe to Asia, Greater China spot rates currently sit at $1.23(100-3000kg), says FAX, decreasing by 2.4%
That’s all for this week’s update…
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