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Cross-Border Growth Opportunities - Q2 2024
SWAN Cross-Border Update Welcome,

Summer is days away and cross-border activity continues its rapid growth. In this edition of Cross-Border Trucking Growth Opportunities, I share industry news and updates from our partners that may help you grow your business while saving time and money in the process.

In 2023, trade volume between the United States and Mexico reached a record $798.8 billion, surpassing China and transforming Mexico into the United States' main partner, highlighting the fundamental role of nearshoring.

Trucks transported 71% of the trade flow between Mexico and the US while rail and ships moved 12% each, air 3% and pipelines 2%. Laredo, Otay Mesa and El Paso are the highest volume cargo hubs but the throne belongs to Laredo with 10,000 northbound heavy vehicles passing through every day.

For a detailed look at US-MX trade stats by state, industry and more, a Latinometrics article in collaboration with the US-Mexico Foundation and General Motors - click here for stats and more.

Some of Mexico's main exports include computers, food and beverages. Dominant import products include refined petroleum, integrated circuits and office machine parts. If you transport commodities like these, we have specialized programs to best protect you and your business, including transporting automobiles and crude oil products.

You may be surprised to learn vehicles make up Mexico's largest export category! North American Class 8 truck orders increased 50% year-over-year during May with 23,200 units sold (also an increase over March).

Kenworth Mexico built the first EV at their factory in Mexicali, Baja California, after a $50 million investment by PACCAR. Kenworth is working to build units specialized for Mexican roads due to differences in mountains, heights and temperatures.

In the last year alone we have seen the ever-growing importance of using AI dashcams and electronic logging devices (ELD) in fleets. Here are the most valuable benefits:

Providing Evidence for Accidents: Dashcam videos are your strongest asset in proving who is at fault. The devices protecting your driver and cargo are a marginal cost against the liability and potential loss of business.

Insurance Savings: Providing evidence from dashcam footage has revolutionized how claims are handled, making them smoother and quicker to process. The transparency and fairness helps protect drivers' motor vehicle records, leading to lower rates and preventing fraudulent claims.

Driver Training: Most dashcam providers offer driver training programs and methods to implement how drivers interact with the road. They can be tailored to each driver's weak points to enhance their behavior and while incidentally lower company costs.

We have seen many of our clients have success with SAMSARA - they developed an integrated platform helping you manage your cameras, sensors and workflows so your whole organization operates as one. Solutions like these and more can help lower your policy premiums thanks to credits applied by insurance carriers. Email me or visit Samsara directly for more information.

Many of our cross-border trucking clients are showing greater interest in working in the ports and drayage - a form of trucking service that connects different modes of shipping (intermodal), such as ocean freight or air freight.

UIIA coverage is a requirement for carriers to be able to enter ports and railyards. If you're interested in becoming compliant and how best to capitalize on these opportunities, schedule a call with me.

Schedule a Call

With a growing need in cross-border drivers the same, we are excited to announce our exclusive Occupational Accident program covering B1 drivers in the US. From accidents resulting in bodily injury and sickness to covering flights and family travel, your B1 drivers would be covered. Schedule a call for details.

Ensuring your fleet of vehicles, cargo and drivers are compliant and covered can help you maximize time on the road and be less impacted by inspections and avoidable delays. Our direct access for insurance solutions includes:

• Commercial Auto
• Cargo
• Physical Damage
• General Liabilty
• Excess Liability
• Trailer Interchange
• Occupational Accident

We are constantly expanding upon business-building resources to help you grow your cross-border fleet and bookings while controlling and lowering costs. Should you have any questions about your coverage or fleet, email me or schedule a call to leverage my team and myself to best help you and your business.

Until then, we wish you prosperity as our industry continues to grow.

Sincerely,
Kevin Mealey
Kevin Mealey
Cross-Border Transportation Specialist
SWAN Insurance
Call: (858) 766-6303 | Email: kevin@swan-ins.com | Connect: LinkedIn | CA #4115839
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