South America news

Nowports goals to be provide chain ally for Latam commerce

Nowports goals to be provide chain ally for Latam commerce 

When Alfonso De los Ríos co-founded digital freight forwarder Nowports, the purpose was to influence Latin America’s commerce business utilizing cutting-edge expertise.

De los Ríos, 23, mentioned he had develop into excited by how commerce affected the event and economies of nations within the area.

“Once we determined to begin Nowports, it wasn’t an excessive amount of about logistics or commerce, it was extra concerning the influence that commerce had in Latin America,” De los Ríos, additionally Nowports’ CEO, advised FreightWaves. “We had been amazed how we may change any business that was the identical for greater than 70 years. One of many driving forces for us is to enter markets which have been underserved for lots of years and add expertise to it.”

De los Ríos co-founded Nowports in 2018 with Maximiliano Casal, the corporate’s COO. Nowports lately secured $150 million in a Sequence C spherical, serving to the Monterrey, Mexico-based firm land a $1.1 billion valuation.

The most recent funding spherical propelled Nowports into unicorn standing (a startup with a price of over $1 billion), serving to it develop into some of the precious startups within the nation. Different Mexican unicorns embrace Bitso, Clara, Konfio, Merama, Kavak and Stori. Nowports is the one Mexican unicorn startup not positioned in Mexico Metropolis.

De los Rios mentioned serving to Nowports obtain unicorn standing has been “superb.”

“It comes with an important duty as a result of we’re the primary exterior Mexico Metropolis. It’s our duty to indicate that corporations in smaller cities can revolutionize an business and create international options,” De los Ríos mentioned. “Final yr, Monterrey was one of many cities with probably the most corporations in Y Combinator, [a California-based technology startup accelerator], so I feel that’s a superb signal.”

Nowports founders Maximiliano Casal and Alfonso De los Ríos. (Picture: Nowports)

Nowports digitizes actions comparable to communications, paperwork, customs compliance and financing, utilizing blockchain — a digital database for storing information of worth and transactions — to attach shippers to carriers.

The goal is to streamline the import and export processes of Latin American corporations by bettering visibility for suppliers, delivery corporations, finish prospects, customs brokers and terminals.

“Our purpose is to develop into like a blockchain working system, not solely of Latin America, however of all rising markets,” De los Ríos mentioned.

Nowports has operations in Mexico, Chile, Colombia, Brazil, Peru, Uruguay and Panama. De los Ríos mentioned the corporate is repeatedly in search of alternatives to develop geographically, in addition to increasing providers.

“We’re increasing abroad and we hope {that a} huge a part of our options aren’t solely offering your shipments visibility and transparency, however offering monetary providers to corporations,” De los Ríos mentioned.

Current international occasions may additionally support the expansion of Latin American commerce, as extra corporations are both relocating or increasing current operations in North and South America, De los Ríos mentioned.

“Once we speak about overseas funding, a lot of the huge corporations which might be interested by coming to Latin America to provide their very own merchandise are coming right here for extra safety, a extra steady political standing, and many others.,”  De los Ríos mentioned.

“Once we are speaking about an organization shifting from Asia to Latin America, I feel there’s undoubtedly a development as a result of we’re seeing huge firms shifting to locations in Mexico just like the Bajío area [central Mexico], which has an enormous automotive manufacturing cluster. I feel the long run is shiny for Latin America. It’s not simply because we’re attracting extra manufacturing away from Asia, but in addition as a result of Latin America total is exporting extra merchandise abroad to Asia, to Europe, and many others.”

US information labor criticism in opposition to auto components plant in Mexico

The Workplace of america Commerce Consultant (USTR) filed a labor criticism Thursday in opposition to a U.S.-owned auto components plant in Mexico.

The request to probe the manufacturing unit, owned by Michigan-based VU Manufacturing, got here after complaints the corporate had interfered in staff’ capacity to decide on their union, in keeping with a launch.

The Mexican plant, often known as Manufacturas VU, is within the metropolis of Piedras Negras, throughout the U.S.-Mexico border from Eagle Move, Texas. Troy, Michigan-based VU Manufacturing makes inside auto components for doorways, seats and sprint consoles.

USTR’s request was made in response to a petition filed by two Mexican labor organizations and marks the fifth time america has used the Fast Response Labor Mechanism (RRLM) within the United States-Mexico-Canada Settlement that was ratified in 2020. 

“Employees deserve the correct to freely set up for the union of their alternative,” U.S. Commerce Consultant Katherine Tai mentioned in a launch. “We stay up for working with the Authorities of Mexico to promptly tackle this problem, as we now have executed in prior situations.”

Tesla suppliers have devoted lane at US-Mexico border bridge

Electrical automobile maker Tesla reportedly has an unique business lane for its automotive suppliers at a U.S.-Mexico border crossing close to Laredo, Texas, in keeping with Bloomberg.

The Tesla lane is on the Mexico facet of the Colombia Solidarity Worldwide Bridge, which connects Laredo to the Mexican state of Nuevo León. The bridge has a complete of eight lanes. One of many lanes now has the “Tesla” brand over it.

“What we wish is a crossing that’s rather more expedited and environment friendly,” Nuevo León’s economic system minister, Iván Rivas, advised Bloomberg. “And perhaps there will probably be a lane for different corporations sooner or later like there’s for Tesla.”

Rivas didn’t present any particulars of what number of each day shipments or vehicles Tesla strikes throughout the U.S.-Mexico border. Tesla didn’t instantly reply to a request for remark from FreightWaves.

Tesla (NASDAQ: TSLA) has lately made offers with six automotive suppliers in Mexico to produce electrical automobile components and supplies to the corporate’s new manufacturing facility in Austin, Texas.

The Colombia Solidarity Worldwide Bridge is considered one of two bridges used for business commerce in Laredo, the opposite being the World Commerce Bridge. As many as 8,000 business tractor-trailers a day cross each bridges, carrying all the things from automobiles, auto components and produce to electronics and medical gear.

Laredo CBP seizes $4.3M value of meth from tractor-trailer

U.S. Customs and Border Safety (CBP) lately found greater than 200 kilos of methamphetamine in a tractor-trailer in Laredo, Texas.

On Monday, CBP officers searched a tractor-trailer arriving from Mexico on the World Commerce Bridge cargo facility. The truck was hauling a cargo of water-based rubber. 

Officers found 5 containers holding 216 kilos of alleged methamphetamine throughout the cargo. The narcotics had an estimated avenue worth of $4.3 million.

Click on for extra FreightWaves articles by Noi Mahoney.

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