<div class="phx-topic abstract-wrapper">Chemical companies are beginning to reap the benefits of plant shutdowns, divestments and other rest</div>

Chemical companies are beginning to reap the benefits of plant shutdowns, divestments and other rest

<div>Chemical companies are beginning to reap the benefits of plant shutdowns, divestments and other restructuring activities instituted within the last couple of years and still going on.The strong earnings trend in the chemical industry this year, despite a somewhat sluggish economy, is attributed by industry analysts particularly to reductions in production capacity, although other important factors are involved.Earnings of major chemical companies rose sharply in the first six months of this year. And a stronger than expected demand in the third quarter, which is normally sluggish, also points to higher sales and earnings for this period compared with a year...

Chemical companies are beginning to reap the benefits of plant shutdowns, divestments and other restructuring activities instituted within the last couple of years and still going on. The strong earnings trend in the chemical industry this year, despite a somewhat sluggish economy, is attributed by industry analysts particularly to reductions in production capacity, although other important factors are involved.Earnings of major chemical companies rose sharply in the first six months of this year. And a stronger than expected demand in the third quarter, which is normally sluggish, also points to higher sales and earnings for this period compared with a year earlier, in the opinion of security analysts. Earnings, however, are likely to dip for some companies below second quarter levels. The improving trend for chemicals is expected to continue in the fourth quarter and into 1987. Leonard Bogner, vice president and security analyst at Prudential-Bache Securities, cited several factors which "give cause for a continuation of the favorable case for chemicals, at least through the end of 1987." These include a continued tightening of supply and demand patterns, improved cost/selling price benefits as a result in part of lower petroleum prices, the positive results of restructuring and especially reduced production capacity, a low level of inventories at produced and customer levels and, further down the line, prospective benefits from the lower value of the dollar on international trade. While the demand/supply pattern varies with different product categories, supply and demand overall is in better balance today than it has been for many years. Capacity utilization rates in the chemical industry generally are now in the low to mid-eighties range, but for some big volume chemicals operating rates are much higher. One conspicuous exception to this generally strong situation is the agricultural market, which has suffered from the depressed farm economy. But the big volume commodity plastics - such as low density polyethylene, high density polyethylene, polystyrene, polypropylene and polyvinyl chloride - are especially strong, with operating rates at or over 90 percent. A strong supply/demand situation in the basic petrochemical building blocks like ethylene, styrene and benzene also prevails, industry analysts point out. Leslie C. Ravitz of Salomon Bros. noted that petrochemical prices held up well during the past summer, following a rocky start in June. Particularly bright spots, he said, were ethylene and styrene, which experienced small upticks in prices. Benzene contract prices during the summer were quoted at 75 cents a gallon, but have strengthened substantially recently, with contract prices of Exxon Chemical and other producers rising to 85 cents a gallon. A firming price trend, reflecting a favorable supply and demand situation, also prevails on a significant number of other major chemicals. Recent price advances in acrylic acid and acrylates, for example, reflect such a situation. Richard P. Feldman, product manager at BASF Corp. for acrylic monomer, said the worldwide supply of acrylic acid is tight and the industry is operating at capacity. In chlorine, the combination of strong demand and tight supply spurred two consecutive price boosts this year. Production capacity for chlorine has been reduced. Demand this year has run at high levels, reflecting in large part the big demand and high level of production for polyvinyl chloride, the major end-use for chlorine. The strong demand for polyvinyl chloride, in turn, reflects its substantial use in the housing and construction industry which is a major end-user of PVC and other plastic materials. The strong supply and demand trend this year has enabled producers of many chemicals to keep prices at levels which provide better profit margins. Earlier this year, chemical companies were under pressure from customers to reduce prices because of substantially lower crude oil prices. While chemical prices were reduced to some degree, chemical producers were able to benefit by keeping some percentage of the raw material cost savings. Mr. Bogner estimates that chemical companies were able to retain 10 percent to 15 percent of the material selling price benefits they received during the first half of 1986. Other industry analysts estimate that the lower cost benefits retained was more in the range of 25 percent to 35 percent. Besides the improved benefits from reduced raw material costs, the restructuring programs carried out by many chemical companies in the last couple of years have provided other increased efficiencies in operations which will provide a sustained benefit in the months ahead. These include the elimination of unprofitable or low-profit operations and various cost- reduction programs. The substantial decline in the value of the dollar so far has resulted in no significant improvement in exports or reduction in the growth of chemical imports. However, a number of industry analysts believe the lower dollar will have a favorable impact upon international chemical trade in the year ahead. Mr. Bogner of Prudential-Bache said, "We expect the positive factors - improving export volumes and a moderation in the rate of increase in imports to be visible in 1987." He noted that, meanwhile, a positive impact of the lower dollar on companies' currency trans lations has already bolstered 1986 earnings for American Cyanamid, The Du Pont Co., Hercules and Monsanto. Regardless of the dollar impact, security analysts are projecting sharp increases in earnings for chemical companies for the third quarter. This has come as a surprise to some, because the chemical industry is sensitive to the trend in the economy which has generally been sluggish this year, with some notable soft spots. But chemical companies have been able to lift net income substantially on a modest increase in sales because of their restructuring efforts, including reductions in production capacity, elimination of unprofitable or less profitable operations and significant cost-reduction programs. Garo Armen, first vice president-research, Dean Witter Reynolds, said that for the major chemical companies he follows - including Dow Chemical, Du Pont, Monsanto, American Cyanamid, Hercules and Air Products and Chemicals - he expects earnings to rise an average of 60 percent over third quarter earnings last year. He is looking for a third quarter earnings rise for Monsanto and Dow of over 100 percent. He pegs Monsanto per-share earnings at $1.10, and Dow and Hercules at 95 cents each. There are some noteworthy exceptions to the strong third quarter earnings trend. In view ofthe general sluggishness in the economy and the pronounced weakness in some areas, it is not surprising that third quarter results for some companies are relatively poor. The third quarter results are particularly bleak in agricultural chemicals or for those companies with a high percentage of their business in agricultural chemicals, including pesticides and fertilizers. George Krug, senior industry analyst at Merrill Lynch, describes the agricultural chemical sector of the industry as a disaster area. His estimate of an average increase in third quarter earnings for the companies he follows is 17.7 percent. This reflects in large part the negative impact of such major agricultural chemical producers as International Minerals & Chemical Corp. and the Williams Cos. Mr. Krug said the agricultural chemical business will remain weak because of reduced acreage plantings. An exception to this trend will be those agricultural chemical producers which have exciting new pesticide products such as Du Pont and American Cyanamid.

RESTRUCTURING BOOSTS CHEMICALS

<div class="phx-topic abstract-wrapper">Automobile carriers have benefitted from falling charter rates to meet growing outbound vehicle moves from Asia. </div>

Automobile carriers have benefitted from falling charter rates to meet growing outbound vehicle moves from Asia.

Feature image

<div class="phx-topic">Significantly reduced tariffs on US vehicle imports haven’t hurt the car carrier market which continued to see record exports from Asia in the second quarter, shipping executives said. Vehicle carrier operators including Wallenius Wilhelmsen and Höegh Autoliners have benefited from falls in vessel charter rates, enabling them to lease vessels for short periods at more competitive rates to handle the surge in Asian vehicle exports, they said. Andreas Enger, Höegh Autoliners chief executive, said clarity over US tariffs on vehicle imports including a significant reduction to 15% from at least 25% “has stabilized the market” compared with the uncertainty seen in the first quarter. “It has created a situation where the disruption of near-term trade flows is small or virtually non-existent,” Enger told an online interim results briefing Friday. But while tariffs have been agreed no date has yet been announced for when they will be implemented on imports from South Korea, Japan and the European Union. Consequently, he added, “it would be naïve to believe that higher tariffs, higher fees and higher cost of transportation will not impact the market longer-term. But right now, we are at the situation where things have stabilized and we have strong current performance and have a strong outlook,” Enger said. He said revisions to the US Trade Representative port fee proposals for car carriers - which were switched June 6 from a vessel capacity levy to a tonnage tax - have also benefited operators. That reduced Höegh Autoliners annual bill from an estimated $70 million to about $30 million, Enger said. While operators continue to fight the proposal, Enger said Höegh is working on capacity planning and management of trades and customers to mitigate the impact. That came as Wallenius Wilhelmsen and Höegh saw a strong rebound in vehicle exports from Asia in the second quarter. Wilhelmsen said volumes were up 13% to around 14 million cubic meters in Q2 from the first quarter although at a similar level to the second quarter last year in an interim results briefing on Aug. 12. Höegh said its export volumes from Asia rose 5% quarter-over-quarter to a record 2 million cubic meters in Q2 but 47% from 1.4 million cubic meters in the second quarter last year. <h3>Export imbalance increasing </h3>Both Höegh and Wilhelmsen reiterated the widening imbalance in vehicle exports from Asia with those from Europe and the US in the first half which is creating a shortage of capacity from Asia. Both carriers said they have taken advantage of the fall in car carrier charter rates, caused by the influx of new ships, to hire vessels either for a single voyage or up to three months to enable them to meet the demand surge. The cost a one-year charter of a 6,500-CEU (car equivalent unit) vessel fell from $115,000 per day in January 2024 to $45,000 per day this month, British shipbroker Clarksons said on a commentary on Aug. 15. Both companies expected third quarter earnings to match those of the two previous quarters. But they are more cautious about prospects next year even though long-term contracts, including at least $300 million worth of new deals signed recently, meant they have more than 80% of their shipping capacity covered in 2026. “We still think this year will be a strong year but it’s too early to call 2026,” Kristoffersen said. Wilhelmsen saw second quarter net profit climb 28% to $403 million compared with $315 million in the same period in the year prior although this included a $135 million gain from the sale of its MIRRAT vehicle logistics business in Australia. Excluding this gain, net profit would have been up 8% to $268 million. Revenue was unchanged at $1.35 billion of which shipping contributed $1 billion. Höegh Autoliners also posted a strong second quarter with net profit of $123 million on revenues of $367 million. While net profit was down from $174 million in Q2 last year that included a $39 million tax gain. Revenue was $341 million in the second quarter last year. Contact Keith Wallis at <a href="keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Significantly reduced tariffs on US vehicle imports haven’t hurt the car carrier market which continued to see record exports from Asia in the second quarter, shipping executives said. Vehicle carrier operators including Wallenius Wilhelmsen and Höegh Autoliners have benefited from falls in vessel charter rates, enabling them to lease vessels for short periods at more competitive rates to handle the surge in Asian vehicle exports, they said. Andreas Enger, Höegh Autoliners chief executive, said clarity over US tariffs on vehicle imports including a significant reduction to 15% from at least 25% “has stabilized the market” compared with the uncertainty seen in the first quarter. “It has created a situation where the disruption of near-term trade flows is small or virtually non-existent,” Enger told an online interim results briefing Friday. But while tariffs have been agreed no date has yet been announced for when they will be implemented on imports from South Korea, Japan and the European Union. Consequently, he added, “it would be naïve to believe that higher tariffs, higher fees and higher cost of transportation will not impact the market longer-term. But right now, we are at the situation where things have stabilized and we have strong current performance and have a strong outlook,” Enger said. He said revisions to the US Trade Representative port fee proposals for car carriers - which were switched June 6 from a vessel capacity levy to a tonnage tax - have also benefited operators. That reduced Höegh Autoliners annual bill from an estimated $70 million to about $30 million, Enger said. While operators continue to fight the proposal, Enger said Höegh is working on capacity planning and management of trades and customers to mitigate the impact. That came as Wallenius Wilhelmsen and Höegh saw a strong rebound in vehicle exports from Asia in the second quarter. Wilhelmsen said volumes were up 13% to around 14 million cubic meters in Q2 from the first quarter although at a similar level to the second quarter last year in an interim results briefing on Aug. 12. Höegh said its export volumes from Asia rose 5% quarter-over-quarter to a record 2 million cubic meters in Q2 but 47% from 1.4 million cubic meters in the second quarter last year. Export imbalance increasing Both Höegh and Wilhelmsen reiterated the widening imbalance in vehicle exports from Asia with those from Europe and the US in the first half which is creating a shortage of capacity from Asia. Both carriers said they have taken advantage of the fall in car carrier charter rates, caused by the influx of new ships, to hire vessels either for a single voyage or up to three months to enable them to meet the demand surge. The cost a one-year charter of a 6,500-CEU (car equivalent unit) vessel fell from $115,000 per day in January 2024 to $45,000 per day this month, British shipbroker Clarksons said on a commentary on Aug. 15. Both companies expected third quarter earnings to match those of the two previous quarters. But they are more cautious about prospects next year even though long-term contracts, including at least $300 million worth of new deals signed recently, meant they have more than 80% of their shipping capacity covered in 2026. “We still think this year will be a strong year but it’s too early to call 2026,” Kristoffersen said. Wilhelmsen saw second quarter net profit climb 28% to $403 million compared with $315 million in the same period in the year prior although this included a $135 million gain from the sale of its MIRRAT vehicle logistics business in Australia. Excluding this gain, net profit would have been up 8% to $268 million. Revenue was unchanged at $1.35 billion of which shipping contributed $1 billion. Höegh Autoliners also posted a strong second quarter with net profit of $123 million on revenues of $367 million. While net profit was down from $174 million in Q2 last year that included a $39 million tax gain. Revenue was $341 million in the second quarter last year. Contact Keith Wallis at keithwallis@hotmail.com .

Ro/ro cargo

US tariff deals on vehicle imports stabilizing car carrier market: Höegh

<div class="phx-topic abstract-wrapper">The joint BNSF/CSX services come as rivals Union Pacific and Norfolk Southern have agreed to an $85 billion deal that would create the first transcontinental railroad, if approved by federal regulators.</div>

The joint BNSF/CSX services come as rivals Union Pacific and Norfolk Southern have agreed to an $85 billion deal that would create the first transcontinental railroad, if approved by federal regulators.

<div class="phx-topic">BNSF Railway and CSX Transportation are adding new joint intermodal routes linking the US West Coast to the Southeast, a competitive counterpunch to Union Pacific and Norfolk Southern (NS) as they seek federal approval for their <a href="https://www.joc.com/article/up-looks-to-create-first-coast-to-coast-railroad-with-85-billion-ns-deal-6052288">proposed merger</a>. BNSF and CSX said Friday they will launch bi-directional trains from Southern California to Charlotte, North Carolina, and to Jacksonville, Florida, supplementing their existing joint service to Atlanta. They also announced a new service that will connect Phoenix and Atlanta, opening an intermodal option in a lane long dominated by truckload carriers. The three new trains will travel via BNSF to the jointly-operated BNSF/CSX Fairburn terminal in Georgia, where CSX will take over and haul the cargo to Charlotte and Jacksonville. “This collaboration between BNSF and CSX demonstrates the power of partnership, delivering greater flexibility, efficiency and value for our customers,” Jon Gabriel, BNSF’s group vice president of consumer products, which includes intermodal, said in a statement. In addition, the two railroads announced new international intermodal trains connecting Kansas City with the Port of New York and New Jersey and the Port of Virginia. That comes after Virginia recently saw <a href="https://www.joc.com/article/norfolk-southern-to-drop-international-intermodal-service-on-many-usec-lanes-5993642">NS pulling out</a> of rail service to Memphis. Ocean containers will be routed on CSX to Chicago, then onto Kansas City via BNSF. The joint BNSF/CSX services come as their rivals, UP and NS, have agreed to a deal that would create the first transcontinental railroad, if approved by federal regulators. UP and NS are expected to file their formal application in early 2026; a decision by regulators could come in mid-2027. The proposed UP-NS coupling has drawn notice in the investor community, with activist investor Ancora Holdings writing a scathing letter to CSX on Aug. 6 urging it to pursue its own merger or face a proxy battle. Ancora, which has mounted unsuccessful battles against C.H. Robinson Worldwide and Norfolk Southern, attacked CSX CEO Joe Hinrichs and his management team, calling them “junior varsity executives.” “The [CSX] board needs to announce in the near term that it is working with identified third-party advisors to explore a range of merger options,” Ancora wrote in the letter, shared with the media this week. “Shareholders cannot afford more missteps as CSX plays catch-up in the rail consolidation race.” <h3>Single-line services </h3>BNSF and CSX have operated a direct intermodal service between Southern California and CSX’s Fairburn terminal for nearly two decades, bypassing busy interchanges in Chicago, Memphis and New Orleans, which often add a day or more to transit times. The service functions more like a single-line railroad, with only crew changes along the way. Replicating that model to Charlotte and Jacksonville with a switchover in Atlanta may serve as an important lever to show that an official BNSF-CSX merger is unnecessary. There are significant growth opportunities on the Charlotte and Jacksonville lanes. A total of more than 150,000 domestic intermodal containers move bi-directionally each year between Southern California and Atlanta, according to a Journal of Commerce analysis of data from the US Surface Transportation Board. About 80,000 containers move each year between Southern California and Charlotte, and approximately 55,000 between Southern California and Jacksonville. Those volumes highlight the growth potential in the new lanes, although Union Pacific and Norfolk Southern hold a transit time advantage from Southern California to Atlanta and Jacksonville using the Meridian Speedway through Mississippi, which runs faster than the BNSF-CSX service. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>.</div>

BNSF Railway and CSX Transportation are adding new joint intermodal routes linking the US West Coast to the Southeast, a competitive counterpunch to Union Pacific and Norfolk Southern (NS) as they seek federal approval for their proposed merger . BNSF and CSX said Friday they will launch bi-directional trains from Southern California to Charlotte, North Carolina, and to Jacksonville, Florida, supplementing their existing joint service to Atlanta. They also announced a new service that will connect Phoenix and Atlanta, opening an intermodal option in a lane long dominated by truckload carriers. The three new trains will travel via BNSF to the jointly-operated BNSF/CSX Fairburn terminal in Georgia, where CSX will take over and haul the cargo to Charlotte and Jacksonville. “This collaboration between BNSF and CSX demonstrates the power of partnership, delivering greater flexibility, efficiency and value for our customers,” Jon Gabriel, BNSF’s group vice president of consumer products, which includes intermodal, said in a statement. In addition, the two railroads announced new international intermodal trains connecting Kansas City with the Port of New York and New Jersey and the Port of Virginia. That comes after Virginia recently saw NS pulling out of rail service to Memphis. Ocean containers will be routed on CSX to Chicago, then onto Kansas City via BNSF. The joint BNSF/CSX services come as their rivals, UP and NS, have agreed to a deal that would create the first transcontinental railroad, if approved by federal regulators. UP and NS are expected to file their formal application in early 2026; a decision by regulators could come in mid-2027. The proposed UP-NS coupling has drawn notice in the investor community, with activist investor Ancora Holdings writing a scathing letter to CSX on Aug. 6 urging it to pursue its own merger or face a proxy battle. Ancora, which has mounted unsuccessful battles against C.H. Robinson Worldwide and Norfolk Southern, attacked CSX CEO Joe Hinrichs and his management team, calling them “junior varsity executives.” “The [CSX] board needs to announce in the near term that it is working with identified third-party advisors to explore a range of merger options,” Ancora wrote in the letter, shared with the media this week. “Shareholders cannot afford more missteps as CSX plays catch-up in the rail consolidation race.” Single-line services BNSF and CSX have operated a direct intermodal service between Southern California and CSX’s Fairburn terminal for nearly two decades, bypassing busy interchanges in Chicago, Memphis and New Orleans, which often add a day or more to transit times. The service functions more like a single-line railroad, with only crew changes along the way. Replicating that model to Charlotte and Jacksonville with a switchover in Atlanta may serve as an important lever to show that an official BNSF-CSX merger is unnecessary. There are significant growth opportunities on the Charlotte and Jacksonville lanes. A total of more than 150,000 domestic intermodal containers move bi-directionally each year between Southern California and Atlanta, according to a Journal of Commerce analysis of data from the US Surface Transportation Board. About 80,000 containers move each year between Southern California and Charlotte, and approximately 55,000 between Southern California and Jacksonville. Those volumes highlight the growth potential in the new lanes, although Union Pacific and Norfolk Southern hold a transit time advantage from Southern California to Atlanta and Jacksonville using the Meridian Speedway through Mississippi, which runs faster than the BNSF-CSX service. Contact Ari Ashe at ari.ashe@spglobal.com .

North-American rail

Rail News

BNSF, CSX unveil new joint intermodal lanes in aftermath of UP-NS merger

<div class="phx-topic abstract-wrapper">Tariff-related surges in US-bound freight from Mexico have abated, but truck volumes in July partially recovered from a second-quarter decline, according to new data. </div>

Tariff-related surges in US-bound freight from Mexico have abated, but truck volumes in July partially recovered from a second-quarter decline, according to new data.

<div class="phx-topic">Soft freight demand and uncertainty over US tariffs are dampening cross-border truck trade with Mexico, with total northbound truck crossings climbing just 0.3% year over year in July after declining 2.2% on an annualized basis <a href="https://www.joc.com/article/us-shippers-ride-ebb-and-flow-of-mexican-cross-border-freight-demand-6022699">in the second quarter</a>. Data from the US Bureau of Transportation Statistics (BTS) shows that northbound truck traffic at the three largest US border crossings — Laredo and El Paso/Ysleta in Texas, and Otay Mesa in Southern California — fell 3.2% in July from the same month in 2024. Sequentially, each of those border crossings made volume gains in July from June, but only the combined El Paso and Ysleta crossings showed an annualized increase, with northbound crossings rising 1.8% year over year in July and 3.4% in the second quarter. Laredo, the largest US land port of entry, saw northbound traffic rise 1.6% to 253,425 trucks in July from June, but volume was still lower than in March, when US-bound trucks from Mexico surged 14.3% from February after a tariff deadline was extended. On an annualized basis, Laredo’s truck count was down 2.8% in July after falling 3.1% in the second quarter and 1.8% in the first quarter. For the first half of 2025, northbound truck volume through Laredo dropped 2.5% year over year to 1.49 million trucks. The overall trend is linked to generally soft demand in the US and the dissipation of tariff-related freight surges from Mexico as freight pulled forward ahead of changing tariff deadlines fills warehouses and saturates supply chains, logistics executives said. “As much as companies would like to pull forward major inventories, there just isn’t enough slack in supply chains to make any major moves,” Jordan Dewart, president of Redwood Mexico, a division of Redwood Logistics, told the Journal of Commerce. Combined, the eight largest US-Mexico border crossings — which handled 91.4% of US-bound truck traffic from Mexico in July — saw northbound trucks rise 0.8% last month from a year earlier after 2.1% annualized decline in the second quarter, according to BTS data. <h3>‘Panic-pushing’ freight </h3>The data for July and the first half of 2025 reflects a market skewed by the threat of <a href="https://www.joc.com/article/tariff-related-disruption-spreading-as-us-shippers-pause-plans-5989017">high tariffs on US imports</a>. US tariffs on goods from Mexico were announced in February and were supposed to take effect in March but <a href="https://www.joc.com/article/disrupted-cross-border-freight-shipping-braces-for-us-tariffs-5974787">have been postponed several times</a>. The US has imposed a 25% tariff on imports from Mexico not compliant with the US-Mexico-Canada Trade Agreement since April. S&amp;P Global Market Intelligence estimates a 14.7% effective US tariff rate on Mexican imports for 2025, falling to 11% next year. On July 31, the White House paused 30% tariffs on Mexico’s non-trade agreement-compliant exports to the US until Oct. 29. That gave US importers sourcing in Mexico a breather but didn’t clear the smoke of uncertainty still blanketing US-Mexico trade. “I’d almost say that uncertainty is the new norm, and people have been panic-pushing inventory downstream,” Frank McGuigan, executive chairman of Transport Capacity Services (TCS), a cross-border logistics provider, told the Journal of Commerce. McGuigan, the former CEO of Transplace and former president and COO of Uber Freight, founded TCS last year. Uber Freight acquired Transplace in 2021. Ben Enriquez, another Uber Freight and Transplace Veteran, was named CEO of TCS on Tuesday. “Many of our customers are in a waiting mode,” Enriquez told the Journal of Commerce. “Freight is still flowing, but everyone is still waiting for the next announcement [from the White House].” “If I’m in procurement, I’m planning for multiple scenarios,” he said. <h3>Bilateral trade rising </h3>Six of the eight largest US-Mexico truck crossings saw northbound truck counts drop between 0.8% (Nogales) and 12.8% (Otay Mesa) from a year earlier in the second quarter. But July saw gains in Brownsville, Nogales, El Paso/Ysleta and Eagle Pass. Eagle Pass, Texas, broke the mold with a 51.7% increase in US-bound trucks in the quarter, followed by a 73.7% annualized gain in July. The number of trucks crossing the border in one direction doesn’t directly reflect the value of US-Mexico trade by truck. Additional BTS data shows the value of that trade, in both directions, rising 6.3% to $318 billion in the first six months of 2025. The value of bilateral cross-border trade by truck rose 6.2% year over year in July to $53.5 billion, according to the BTS. That value soared 14.6% to $55.6 billion in March after the White House extended a tariff deadline — the same period in which truck numbers swelled. Third-party logistics companies, including TCS, Echo Global Logistics, Redwood, and C.H. Robinson Worldwide, have ramped up investment in Mexico and along the US-Mexico border. J.B. Hunt Transport Services is expanding its cross-border intermodal service. “Companies are trying to figure out how to up their production in Mexico,” said Troy Ryley, president of Echo’s Mexico unit. “We have a furniture client who wants to triple their production out of Mexico because most of their freight is from Asia.” Echo on Wednesday said it has received certification as a third-party logistics provider in the Department of Homeland Security’s Customs-Trade Partnership Against Terrorism (CTPAT) program. Security is a top priority for cross-border shippers, Echo said. Truckload carrier Landstar System bucked the investment trend by putting its intra-Mexico truckload subsidiary, Landstar Metro, up for sale, as per an Aug. 13 Securities and Exchange Commission filing. Landstar purchased the Mexican trucking company in 2017. The sale won’t affect Landstar’s cross-border US-Mexico operations, the company said. Still, cross-border business with both Mexico and Canada underperformed Landstar’s domestic US business in the second quarter, the company said in its earnings report. Current sluggishness and tariff-related ebbs and spikes won’t dampen long-term prospects for investment and trade with Mexico, TCS’ McGuigan said. Long term, “there will continue to be a shift [in manufacturing] from Asia to this hemisphere,” he said. Contact William B. Cassidy at <a href="mailto://bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

Soft freight demand and uncertainty over US tariffs are dampening cross-border truck trade with Mexico, with total northbound truck crossings climbing just 0.3% year over year in July after declining 2.2% on an annualized basis in the second quarter . Data from the US Bureau of Transportation Statistics (BTS) shows that northbound truck traffic at the three largest US border crossings — Laredo and El Paso/Ysleta in Texas, and Otay Mesa in Southern California — fell 3.2% in July from the same month in 2024. Sequentially, each of those border crossings made volume gains in July from June, but only the combined El Paso and Ysleta crossings showed an annualized increase, with northbound crossings rising 1.8% year over year in July and 3.4% in the second quarter. Laredo, the largest US land port of entry, saw northbound traffic rise 1.6% to 253,425 trucks in July from June, but volume was still lower than in March, when US-bound trucks from Mexico surged 14.3% from February after a tariff deadline was extended. On an annualized basis, Laredo’s truck count was down 2.8% in July after falling 3.1% in the second quarter and 1.8% in the first quarter. For the first half of 2025, northbound truck volume through Laredo dropped 2.5% year over year to 1.49 million trucks. The overall trend is linked to generally soft demand in the US and the dissipation of tariff-related freight surges from Mexico as freight pulled forward ahead of changing tariff deadlines fills warehouses and saturates supply chains, logistics executives said. “As much as companies would like to pull forward major inventories, there just isn’t enough slack in supply chains to make any major moves,” Jordan Dewart, president of Redwood Mexico, a division of Redwood Logistics, told the Journal of Commerce. Combined, the eight largest US-Mexico border crossings — which handled 91.4% of US-bound truck traffic from Mexico in July — saw northbound trucks rise 0.8% last month from a year earlier after 2.1% annualized decline in the second quarter, according to BTS data. ‘Panic-pushing’ freight The data for July and the first half of 2025 reflects a market skewed by the threat of high tariffs on US imports . US tariffs on goods from Mexico were announced in February and were supposed to take effect in March but have been postponed several times . The US has imposed a 25% tariff on imports from Mexico not compliant with the US-Mexico-Canada Trade Agreement since April. S&P Global Market Intelligence estimates a 14.7% effective US tariff rate on Mexican imports for 2025, falling to 11% next year. On July 31, the White House paused 30% tariffs on Mexico’s non-trade agreement-compliant exports to the US until Oct. 29. That gave US importers sourcing in Mexico a breather but didn’t clear the smoke of uncertainty still blanketing US-Mexico trade. “I’d almost say that uncertainty is the new norm, and people have been panic-pushing inventory downstream,” Frank McGuigan, executive chairman of Transport Capacity Services (TCS), a cross-border logistics provider, told the Journal of Commerce. McGuigan, the former CEO of Transplace and former president and COO of Uber Freight, founded TCS last year. Uber Freight acquired Transplace in 2021. Ben Enriquez, another Uber Freight and Transplace Veteran, was named CEO of TCS on Tuesday. “Many of our customers are in a waiting mode,” Enriquez told the Journal of Commerce. “Freight is still flowing, but everyone is still waiting for the next announcement [from the White House].” “If I’m in procurement, I’m planning for multiple scenarios,” he said. Bilateral trade rising Six of the eight largest US-Mexico truck crossings saw northbound truck counts drop between 0.8% (Nogales) and 12.8% (Otay Mesa) from a year earlier in the second quarter. But July saw gains in Brownsville, Nogales, El Paso/Ysleta and Eagle Pass. Eagle Pass, Texas, broke the mold with a 51.7% increase in US-bound trucks in the quarter, followed by a 73.7% annualized gain in July. The number of trucks crossing the border in one direction doesn’t directly reflect the value of US-Mexico trade by truck. Additional BTS data shows the value of that trade, in both directions, rising 6.3% to $318 billion in the first six months of 2025. The value of bilateral cross-border trade by truck rose 6.2% year over year in July to $53.5 billion, according to the BTS. That value soared 14.6% to $55.6 billion in March after the White House extended a tariff deadline — the same period in which truck numbers swelled. Third-party logistics companies, including TCS, Echo Global Logistics, Redwood, and C.H. Robinson Worldwide, have ramped up investment in Mexico and along the US-Mexico border. J.B. Hunt Transport Services is expanding its cross-border intermodal service. “Companies are trying to figure out how to up their production in Mexico,” said Troy Ryley, president of Echo’s Mexico unit. “We have a furniture client who wants to triple their production out of Mexico because most of their freight is from Asia.” Echo on Wednesday said it has received certification as a third-party logistics provider in the Department of Homeland Security’s Customs-Trade Partnership Against Terrorism (CTPAT) program. Security is a top priority for cross-border shippers, Echo said. Truckload carrier Landstar System bucked the investment trend by putting its intra-Mexico truckload subsidiary, Landstar Metro, up for sale, as per an Aug. 13 Securities and Exchange Commission filing. Landstar purchased the Mexican trucking company in 2017. The sale won’t affect Landstar’s cross-border US-Mexico operations, the company said. Still, cross-border business with both Mexico and Canada underperformed Landstar’s domestic US business in the second quarter, the company said in its earnings report. Current sluggishness and tariff-related ebbs and spikes won’t dampen long-term prospects for investment and trade with Mexico, TCS’ McGuigan said. Long term, “there will continue to be a shift [in manufacturing] from Asia to this hemisphere,” he said. Contact William B. Cassidy at bill.cassidy@spglobal.com .

Trucking News

Truckload

Surface

US-Mexico truck crossings rose marginally in July amid sluggish demand

<div class="phx-topic abstract-wrapper">Truck Parking Club commissioned a report to quantify the truck parking problem facing drivers and what costs trickle down to the rest of the industry. </div>

Truck Parking Club commissioned a report to quantify the truck parking problem facing drivers and what costs trickle down to the rest of the industry.

<div class="phx-topic">Truck Parking Club and veteran trucking analyst Noel Perry estimate that the US truckload industry incurs unexpected costs of more than $100 billion annually due to inefficiencies caused by a lack of adequate parking for drivers. Their report published this week, <a href="https://truckparkingclub.com/research">North American Logistics Basics: Heavy Duty Truck Parking</a>, takes a stab at calculating the scope of the problem, primarily by categorizing the types of stops drivers make and the facilities they use to park and comparing that with the number of commercial parking spots available to drivers. The report found there is a massive shortfall in available spots. Out of approximately 23.4 million spaces at 4.5 million locations, which include truck stops, rest stops, carrier yards, shipper yards, retail stores and restaurants, only approximately 638,000 spaces are publicly available and appropriate for truck parking. That accounts for just 30% of the required capacity. “So, about seven of 10 en route truckers who need a place to rest use informal spaces,” the report said. Truck Parking Club, which operates a marketplace between carriers and facilities looking to monetize available parking spaces, commissioned the study to get a handle on the challenge facing the industry. A lack of guaranteed parking space for drivers causes them to incur costs, the report asserts — from driving in a different direction to secure a space to not fully using their hours of service for fear of not finding a space when their driving time expires — that carriers either have to absorb the costs or pass them along to broker or shipper customers. The report also describes how available time slots, and not actual parking spaces, are the metric most important to drivers, as a slot refers to a window of time that a parking space is available. “When trucks need 14.5 million parking slots every working day, even small inefficiencies add up to big numbers,” the report said. “Frequently, truckers have to venture off route to find parking, especially for rest stops. If a driver generates 15 miles of circuity for each rest stop, the annual cost to the carrier is $13,047.” With the average driver incurring those circuity costs one-third of the time when searching for rest parking, the annual cost to the industry for rest stop circuity is $37.7 billion, the report estimates. <h3>Relevance for shippers </h3>The report delves into details around why specific facilities are better equipped than others to accommodate parking and the different types of stops drivers make, which can vary in length from a few minutes to a few days. The truck parking issue also has direct relevance for shippers, as many operate private fleets or depend on dedicated fleets that serve their needs directly. Truck Parking Club executives told the Journal of Commerce in July that some fleets think strategically about ensuring drivers have parking available to them but most essentially hand that responsibility off to the driver. Truck Parking Club landed an investment in July from CAT Scale, North America’s largest truck scale weighing network, to <a href="https://www.joc.com/article/parking-platform-uses-business-growth-to-target-truckload-fleet-inefficiency-6046754">build out the list of locations in its marketplace</a>. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>.</div>

Truck Parking Club and veteran trucking analyst Noel Perry estimate that the US truckload industry incurs unexpected costs of more than $100 billion annually due to inefficiencies caused by a lack of adequate parking for drivers. Their report published this week, North American Logistics Basics: Heavy Duty Truck Parking , takes a stab at calculating the scope of the problem, primarily by categorizing the types of stops drivers make and the facilities they use to park and comparing that with the number of commercial parking spots available to drivers. The report found there is a massive shortfall in available spots. Out of approximately 23.4 million spaces at 4.5 million locations, which include truck stops, rest stops, carrier yards, shipper yards, retail stores and restaurants, only approximately 638,000 spaces are publicly available and appropriate for truck parking. That accounts for just 30% of the required capacity. “So, about seven of 10 en route truckers who need a place to rest use informal spaces,” the report said. Truck Parking Club, which operates a marketplace between carriers and facilities looking to monetize available parking spaces, commissioned the study to get a handle on the challenge facing the industry. A lack of guaranteed parking space for drivers causes them to incur costs, the report asserts — from driving in a different direction to secure a space to not fully using their hours of service for fear of not finding a space when their driving time expires — that carriers either have to absorb the costs or pass them along to broker or shipper customers. The report also describes how available time slots, and not actual parking spaces, are the metric most important to drivers, as a slot refers to a window of time that a parking space is available. “When trucks need 14.5 million parking slots every working day, even small inefficiencies add up to big numbers,” the report said. “Frequently, truckers have to venture off route to find parking, especially for rest stops. If a driver generates 15 miles of circuity for each rest stop, the annual cost to the carrier is $13,047.” With the average driver incurring those circuity costs one-third of the time when searching for rest parking, the annual cost to the industry for rest stop circuity is $37.7 billion, the report estimates. Relevance for shippers The report delves into details around why specific facilities are better equipped than others to accommodate parking and the different types of stops drivers make, which can vary in length from a few minutes to a few days. The truck parking issue also has direct relevance for shippers, as many operate private fleets or depend on dedicated fleets that serve their needs directly. Truck Parking Club executives told the Journal of Commerce in July that some fleets think strategically about ensuring drivers have parking available to them but most essentially hand that responsibility off to the driver. Truck Parking Club landed an investment in July from CAT Scale, North America’s largest truck scale weighing network, to build out the list of locations in its marketplace . Contact Eric Johnson at eric.johnson@spglobal.com .

Transport, Trade and Regulation News

Logistics Technology News

Truck parking a $100 billion inefficiency issue for US truckload industry: report

<div class="phx-topic abstract-wrapper">Fiori joined NYK Line (North America) in 1990 as executive vice president with a mandate to grow the newly formed liner agency and position it closer to US-based BCOs.</div>

Fiori joined NYK Line (North America) in 1990 as executive vice president with a mandate to grow the newly formed liner agency and position it closer to US-based BCOs.

<div class="phx-topic">Dodd W. Fiori, a larger-than-life figure in an earlier container shipping era who led the US agency of NYK Line, died Aug. 16. He was 82. At the height of his career in the 1990s, Fiori was executive vice president of Japanese carrier NYK Line (North America) Inc., a job in which he personified the high-profile, influential and charismatic US leader of foreign ocean carriers. It’s a role that has largely disappeared as carrier headquarters have assumed greater control over their far-flung operations. Fiori joined NYK Line (North America) in 1990 as executive vice president after stints at Seatrain and APL. The job came with a mandate to grow the newly formed North American liner agency with a view toward being closer to US beneficial cargo owners (BCOs) and independent from the traditional centralized headquarters, top-down management style typical of ocean carriers at the time. When Fiori arrived at NYK, the carrier, whose liner business was consolidated into Ocean Network Express (ONE) in 2017, along with those of two other major Japanese carriers, was investing in and adding capacity in the trans-Pacific with a focus on capturing rapidly growing manufacturing output in Japan, Taiwan, South Korea and, later, China. It was a heady time, with independent or non-conference carriers such as Evergreen Marine, Hanjin, Hyundai Merchant Marine and Yang Ming rapidly gaining market share at the expense of the traditionally dominant US-flag carriers American President Lines and Sea-Land Service Inc., which were operating in the Asia-North America Eastbound Rate Agreement (ANERA) and its westbound counterpart the TWRA, both of which disbanded in 1999. Fiori later served as president of the freight consolidation and handling unit of Pacer Global Logistics, a unit of Pacer International. “His larger-than-life personality and sense of humor put him in the forefront of US-based executives, never shy to give opinions and criticism but also acknowledging loyalty and good performance,” said Mike Divirgilio, who worked under Fiori at NYK. According to Divirgilio, in the late 90s as the liner industry was under pressure that eventually led to the collapse of the conference system and the 1998 Ocean Shipping Reform Act, Fiori, in order to protect carriers’ anti-trust immunity, was one of the key influencers seeking to project a positive image and the necessity of what the liner industry meant to US foreign trade. This led to the creation of the World Shipping Council in 2000 as the advocate for liner carriers. Contact Peter Tirschwell at <a href="mailto:peter.tirschwell@spglobal.com">peter.tirschwell@spglobal.com</a>. </div>

Dodd W. Fiori, a larger-than-life figure in an earlier container shipping era who led the US agency of NYK Line, died Aug. 16. He was 82. At the height of his career in the 1990s, Fiori was executive vice president of Japanese carrier NYK Line (North America) Inc., a job in which he personified the high-profile, influential and charismatic US leader of foreign ocean carriers. It’s a role that has largely disappeared as carrier headquarters have assumed greater control over their far-flung operations. Fiori joined NYK Line (North America) in 1990 as executive vice president after stints at Seatrain and APL. The job came with a mandate to grow the newly formed North American liner agency with a view toward being closer to US beneficial cargo owners (BCOs) and independent from the traditional centralized headquarters, top-down management style typical of ocean carriers at the time. When Fiori arrived at NYK, the carrier, whose liner business was consolidated into Ocean Network Express (ONE) in 2017, along with those of two other major Japanese carriers, was investing in and adding capacity in the trans-Pacific with a focus on capturing rapidly growing manufacturing output in Japan, Taiwan, South Korea and, later, China. It was a heady time, with independent or non-conference carriers such as Evergreen Marine, Hanjin, Hyundai Merchant Marine and Yang Ming rapidly gaining market share at the expense of the traditionally dominant US-flag carriers American President Lines and Sea-Land Service Inc., which were operating in the Asia-North America Eastbound Rate Agreement (ANERA) and its westbound counterpart the TWRA, both of which disbanded in 1999. Fiori later served as president of the freight consolidation and handling unit of Pacer Global Logistics, a unit of Pacer International. “His larger-than-life personality and sense of humor put him in the forefront of US-based executives, never shy to give opinions and criticism but also acknowledging loyalty and good performance,” said Mike Divirgilio, who worked under Fiori at NYK. According to Divirgilio, in the late 90s as the liner industry was under pressure that eventually led to the collapse of the conference system and the 1998 Ocean Shipping Reform Act, Fiori, in order to protect carriers’ anti-trust immunity, was one of the key influencers seeking to project a positive image and the necessity of what the liner industry meant to US foreign trade. This led to the creation of the World Shipping Council in 2000 as the advocate for liner carriers. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .

Container Shipping News

Container lines

Maritime

Dodd Fiori, ex-NYK North America executive, dead at 82

Use code TPM26GW995 at checkout to save $500 on first year of a Gold subscription and 20% on a TPM26 registration!

Subscribe Now - FT/Anonymous to Gold - Wide Box

SAVE ON A GOLD SUBSCRIPTION AND TPM26

Use code GTW695 at checkout and save $800 on first year of an annual Gold subscription!

Upgrade Subscription - Gold Trials

Become a Gold Subscriber and Save!

Use code TPMGW595 at checkout to save $900 on first year of a Gold subscription and 20% on a TPM26 registration!

Upgrade Subscription - S/SP to Gold - Wide Box

UPGRADE TO GOLD FOR JUST $595

Arm your team with the most trusted information portal for the international container shipping industry.

Group Subscriptions - Wide Box

Get into a group subscription today

Access Journal of Commerce content for 30 days

Free Trial - Wide Box

START A FREE TRIAL TODAY

Use code STS20 at checkout to save 20% on a Silver or Silver Plus annual subscription! 

Subscribe Now - FT/Anonymous to S/SP - Wide Box

SUBSCRIBE AND SAVE

At SSA Marine Mexico, we firmly believe that business development must go hand in hand with social and environmental well-being. Our vision is not solely focused on operating efficiently, but also on creating a meaningful and positive impact in the communities where we are present. Since 1995, we have reaffirmed this commitment through tangible actions that reflect our core values of responsibility, solidarity, and sustainability. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584535914_Photo%201.jpg" alt="" class="joc_admin__inline-image-inherit"> A Year of Major Achievements Over the past year, we allocated more than $107,000 USD to the implementation of 60 social and environmental projects, positively impacting over 7,800 people across various regions of Mexico. Each initiative was designed with a holistic approach, addressing key areas that contribute to long-term community development. Education: Laying the Foundation for the Future Education is one of the most powerful tools to promote social mobility and equitable development. At SSA Marine Mexico, we support academic initiatives that inspire and empower the next generation of leaders. One of our most impactful partnerships was with the University of Colima, where we sponsored the “Reto Camp” program. This initiative encourages university students to develop innovative solutions in the fields of sustainability, logistics, and port operations, offering them mentorship, tools, and real-world challenges to solve. In addition, we donated microscopes, school supplies, and educational materials to institutions in underserved communities, helping to improve the learning environment and provide students with the resources they need to succeed. Health and Sports: Promoting Wellness We believe that healthy communities are strong communities. We have supported several local sporting events and provided direct assistance to talented athletes, enabling them to pursue their passions and represent their regions with pride. Beyond sports, we also strengthened our collaboration with critical emergency response organizations such as the Mexican Red Cross and Civil Protection. Our contributions helped enhance their readiness and capabilities in times of crisis, ensuring better outcomes for those affected by emergencies. Supporting Vulnerable Groups: Reaching Those Who Need It Most A core part of our social responsibility efforts is directed toward supporting vulnerable populations. We have contributed to a range of initiatives focused on children, migrants, and at-risk families. These efforts included donations to orphanages and shelters, as well as support for the National Institute of Migration and grassroots organizations dedicated to protecting and empowering people facing adversity. By standing with those in need, we reinforce our commitment to inclusion and social justice, values that are central to our identity as a responsible company. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584944645_Photo%202.png" alt="" class="joc_admin__inline-image-inherit">Culture: Strengthening Community Identity Cultural identity is a key element in building resilient and united communities. At SSA Marine Mexico, we actively participate in the organization and sponsorship of cultural events that celebrate local traditions and foster civic pride. Working alongside port authorities and municipal governments, we helped bring music, art, and heritage to the forefront, creating spaces for community engagement and intercultural dialogue. Environment: Investing in the Planet Our commitment to sustainability goes beyond operations—it’s a philosophy that drives every decision we make. We have partnered with environmental institutions to carry out reforestation campaigns, beach cleanups, and conservation efforts. In collaboration with the Institute for the Environment, we supported initiatives aimed at decarbonization, biodiversity protection, and environmental education. By involving our employees and local volunteers in these actions, we also foster a culture of environmental stewardship throughout our organization and our surrounding communities. Innovation for a Sustainable Future Sustainability is not just about doing good—it’s also about doing things better. In 2024, we invested $22 million USD in the acquisition of 11 state-of-the-art E-RTG cranes. These electric rubber-tired gantry cranes represent a significant technological advancement in port equipment. Seven of them are already operating on clean electric energy, resulting in a reduction of nearly 4,000 tons of CO₂ emissions and improving operational efficiency by 7%. The remaining four cranes are fully compatible with future electrification, underscoring our long-term strategy to modernize our operations in an environmentally responsible way. This investment is part of a broader innovation roadmap that includes digitalization, automation, and cleaner energy sources—all designed to ensure that our ports continue to grow without compromising the health of our planet. Building a Better Tomorrow, Together At SSA Marine Mexico, we understand that sustainability is a shared and ongoing responsibility. True impact requires collaboration across sectors, long-term vision, and unwavering commitment. That is why we continue to work hand-in-hand with local authorities, non-profit organizations, universities, and our own employees to create solutions that are both scalable and sustainable. Our journey is far from over. In the years ahead, we will continue to deepen our community engagement, explore cleaner technologies, and strengthen the social fabric of the regions where we operate. Each initiative, no matter the size, is a step toward building a future where business success goes hand-in-hand with human and environmental prosperity. We are proud of what we have achieved in 2024, but we are even more excited about what lies ahead. SSA Marine Mexico — Moving the World, Caring for People and Planet. LINK: https://www.ssamarine.mx/

Photo 2.png

SSA Marine Mexico: True Commitment to Sustainability

SAVE ON A GOLD SUBSCRIPTION: Use code TPM26GW995 to save $500 on an annual Gold subscription and 20% on a TPM26 registration!

Subscribe Now - FT/Anonymous to Gold - Offer Box

UPGRADE TO GOLD AND SAVE: Use code GTW695 at checkout and save $800 on first year of a Gold subscription!

Upgrade Subscription

SUBSCRIBE AND SAVE: Use code STSW20 to save 20% on first year of a Silver or Silver Plus annual subscription!


Subscribe Now - FT/Anonymous to S/SP - Offer Box

GET INTO A GROUP SUBSCRIPTION: Arm your team with unlimited Journal of Commerce content

Group Subscriptions - Offer Box

Group Subscriptions

UPGRADE TO GOLD AND SAVE: Use code TPMGW595 at checkout to save $900 on first year of a Gold subscription and 20% on TPM26! 

Upgrade Subscription - S/SP to Gold - Offer Box

START A FREE TRIAL: Access Journal of Commerce content for 30 days

Free Trial - Offer Box

Free Trial

Monthly publication providing an editorial deep dive into global supply chain news

Journal of Commerce Magazine - Rectangle Box

Journal of Commerce Magazine

An in-depth analysis of transport trends in the multipurpose and heavy-lift fleet segment

Breakbulk Report - Rectangle Box

Breakbulk Quarterly

Customers scoring their intermodal partners to identify the best service providers

Latest News

More News & Analysis

US tariff deals on vehicle imports stabilizing car carrier market: Höegh

BNSF, CSX unveil new joint intermodal lanes in aftermath of UP-NS merger

US-Mexico truck crossings rose marginally in July amid sluggish demand