SCS Weekly Rundown | September 4th, 2024
Ford Investing Big in Mexico EV Plant
This expansion plans to provide support for electric vehicle unit production.
Ford is in the process of transforming its Irapuato, Mexico, plant to emphasize production on electric drive units for the Mustang Mach-E. The facility will manufacture essential components, such as the electric motor and transaxle, aligning with the broader shift toward electric vehicle production in North America.
Learn more about this new development here.
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Portland's Terminal 6 Needs Urgent Funding
Public and private support are crucial for Oregon's key terminal.
Portland's Terminal 6 is facing severe financial challenges, leading the Port of Portland to urgently seek state funding. The terminal is vital to Oregon's economy but has struggled with ongoing losses and is in search of a private operator. A combination of public and private investment has been proposed to keep the terminal operational and support state shippers.
Read all about this story by clicking here.
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Empty Container Surge: A Sign of Imbalance
Empty container influx highlights challenges in freight dynamics.
The recent surge in empty containers entering Los Angeles underscores significant market imbalances, driven by high demand and container shortages. Heavy consumer goods flows from Asia to the U.S. have made the return of empty containers to Asia costly yet necessary. This imbalance has strained capacity, although recent trends indicate some level of relief.
Dive into the full story, available here.
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Transport Capacity Rises, Price Growth Slows
Expanded capacity meets slowing price growth in August's market.
August saw a substantial 5.8-point increase in transportation capacity, driven by smaller carriers returning as rates improve. While capacity expanded, transportation prices grew more slowly, marking the first month since April without a sequential rise. This shift suggests a wider market recovery, with capacity gains outpacing price increases.
Get all the information this story here.
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