USMCA | Jotup

Freight Technologies, Inc. Reports Financial Results for Fiscal Year 2023

Retrieved on:

Jeudi, mai 9, 2024

AI, USMCA, Transport, B2B, Bank statement, COVID-19, Video game

Fr8Tech recorded annual revenue for fiscal 2023 of $17.1 million vs. annual revenue of $25.9 million in 2022, a year-over-year decline of 34%.

Key Points:

Fr8Tech recorded annual revenue for fiscal 2023 of $17.1 million vs. annual revenue of $25.9 million in 2022, a year-over-year decline of 34%.
The Company was also able to grow its Fr8Fleet dedicated services by 48% to $3.6 million for the year.
We also continued to invest in Fr8App to make it more intuitive and powerful for our users and extend its capabilities.
CFO of Fr8Tech, Don Quinby, noted: "While 2023 was a challenging year for our topline, there are some notable highlights.

Kelley Drye Continues to Bolster International Trade Policy Team with Addition of Former Deputy United States Trade Representative, Jayme White

Retrieved on:

Mardi, mai 7, 2024

WASHINGTON, May 7, 2024 /PRNewswire/ -- Kelley Drye & Warren LLP is pleased to announce that former Deputy United States Trade Representative Jayme White will join the firm as a senior international trade advisor, effective May 13th, working in the firm's nationally recognized International Trade practice group.

Key Points:

WASHINGTON, May 7, 2024 /PRNewswire/ -- Kelley Drye & Warren LLP is pleased to announce that former Deputy United States Trade Representative Jayme White will join the firm as a senior international trade advisor, effective May 13th, working in the firm's nationally recognized International Trade practice group.
He was responsible for leading USTR's activities on significant labor and environmental issues and broadly represented the United States in many different trade fora, domestically and overseas.
Kelley Drye's leading International Trade practice operates at the intersection of trade law and public policy to advocate for clients where trade policy is debated and established—in the halls of Congress and before Executive Branch agencies.
In February of this year, former Assistant United States Trade Representative for Labor Affairs, Joshua Kagan, joined the firm .

Mexico’s Tariff Announcement a Key First Step for Fair Trade in USMCA Region

Retrieved on:

Jeudi, avril 25, 2024

Aluminium, The Aluminum Association, IMMEX, USMCA, Government, Drug

While we continue to assess how these tariffs might impact regional trade flows, we look forward to further aligning the action with the United States Section 232 aluminum tariff regime.

Key Points:

While we continue to assess how these tariffs might impact regional trade flows, we look forward to further aligning the action with the United States Section 232 aluminum tariff regime.
A coordinated regional strategy will better insulate North America from heavily state subsidized and illegally traded metal from China, as well as more recently discounted Russian metal.
We also continue to encourage governments across the region to ramp up trade monitoring systems to quickly identify transshipped and otherwise unfairly traded aluminum.
The Aluminum Association has long advocated for trade enforcement that targets bad actors in the marketplace while maintaining open trade with partners who play by the rules.

Freight Technologies, Inc. Reports 30% Year-over-Year Revenue Growth and Strong Fr8Fleet Volumes for Q1 2024

Retrieved on:

Lundi, avril 22, 2024

OTR, CFO, AI, USMCA, B2B

Fr8Tech achieved healthy revenue growth of 30% in Q1 2024 over the prior year with approximately $4.3 million in quarterly revenue.

Key Points:

Fr8Tech achieved healthy revenue growth of 30% in Q1 2024 over the prior year with approximately $4.3 million in quarterly revenue.
This included a 278% year-over-year volume growth within the Fr8Fleet business to approximately 3,400 completed shipments.
Q1 is typically the slowest quarter of the year for freight activity, yet the Company was able to secure Fr8Fleet volume growth of 25% sequentially over Q4 2023.
The Company’s growth trajectory continues, not just with Fr8Fleet, but also with spot and cross-border shipments.

Fr8App Selected by Grupo Solave for Cross-Border Logistics Services

Retrieved on:

Mercredi, avril 17, 2024

Blue agave, B2B, Tequila, USMCA

HOUSTON, April 17, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, announces its appointment as Solave's logistics solutions provider for cross-border operations.

Key Points:

HOUSTON, April 17, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, announces its appointment as Solave's logistics solutions provider for cross-border operations.
Solave, recognized for its leadership in the Blue Agave market with achievements such as becoming a global leader in Agave Syrup production, a frontrunner in cultivating Blue Agave plants in Mexico, and a reputable Tequila producer for notable brands, aims to benefit from optimized logistics and supply chain efficiency through Fr8App’s platform.
"We are thrilled to take on the role of logistics solutions provider for Solave, applying our advanced platform and extensive network to meet their specific logistics needs," stated Javier Selgas, CEO of Fr8App.
“Tequila is one of the most popular spirits in the world, and sales are expected to grow approximately 6% annually over the coming decade.

Everstream Analytics Releases the 2024 Election Year Impact Report

Retrieved on:

Mardi, avril 16, 2024

Everstream Analytics , the global supply chain predictive insights and risk analytics company, today unveiled the Election Year Impact Report , which offers an in-depth analysis on how the 2024 global elections will create new supply chain risks associated with global trade, commodity supplies and cyberattacks.

Key Points:

Everstream Analytics , the global supply chain predictive insights and risk analytics company, today unveiled the Election Year Impact Report , which offers an in-depth analysis on how the 2024 global elections will create new supply chain risks associated with global trade, commodity supplies and cyberattacks.
The 2024 Election Year Impact Report, based on Everstream’s proprietary risk intelligence, warns of potential supply chain disruptions associated with this year’s record number of elections.
Of note,
The mining sector is one to watch ahead of the 2024 elections, particularly in Mexico (June 2, 2024) and the United States (November 5, 2024.)
For the full breakdown of insights and analysis, download a copy of the 2024 Election Year Impact Report, here .

Aluminum Extruders Council Responds to The Aluminum Association’s Call for the Establishment of a North American Aluminum Trade Committee

Retrieved on:

Mercredi, avril 10, 2024

Natural Resources, Other Manufacturing, Manufacturing, Mining, Minerals, Aluminium, United, The Aluminum Association, USMCA, AEC, Letter

The Aluminum Association does not represent the U.S. aluminum industry as a whole.

Key Points:

The Aluminum Association does not represent the U.S. aluminum industry as a whole.
In particular, the Aluminum Extruders Council (AEC), a U.S. association of aluminum extruders comprising the overwhelming majority of the U.S. extrusions industry, is an entirely separate entity from The Aluminum Association that signed the joint letter.
The AEC and the associations that signed the letter have different positions on certain issues, including trade remedies and enforcement.
As a result, to the extent that a North American Aluminum Trade Committee is formed, the AEC, and likely other representatives of the domestic aluminum industry, must be provided an opportunity to directly participate and represent itself and the interests of its U.S. members.

Freight Technologies, Inc. Preliminary Results for Q4 2023 Show Strong Revenue Growth

Retrieved on:

Lundi, mars 25, 2024

B2B, YTD, Growth, USMCA, AI, CFO, Video game

Fr8Tech marks its third consecutive quarter of notable revenue growth in Q4 2023 achieving approximately $5 million in quarterly revenue, reflecting 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022.

Key Points:

Fr8Tech marks its third consecutive quarter of notable revenue growth in Q4 2023 achieving approximately $5 million in quarterly revenue, reflecting 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022.
The YTD gross margin percentage rose to 9.3%, showcasing a more than 50-basis point improvement over the prior year-to-date results in 2022.
Don Quinby, CFO of Fr8Tech, said: "The company continued to demonstrate strong execution in its core offerings for cross-border shipping and dedicated fleet services with the third straight quarter of revenue growth.
The market has recovered from its lows in late 2022 and early 2023, and we are back on a growth trajectory.

Fr8App’s Innovative Platform Transforms Cross-Border Shipping for Riisa

Retrieved on:

Mercredi, mars 20, 2024

B2B, USMCA, Warehouse

During this time, Fr8App has facilitated Riisa’s cross-border exportations, enabling them to move their products with ease and efficiency.

Key Points:

During this time, Fr8App has facilitated Riisa’s cross-border exportations, enabling them to move their products with ease and efficiency.
Alejandro Ayala from Riisa said: "Through Fr8App we have been able to streamline our logistics operations, save time and money, and ensure that our products arrive on time and in perfect condition.
Javier Selgas, CEO of Fr8Tech said: “Our Fr8App platform is the perfect tool for companies looking to optimize their cross-border logistics operations and reduce logistics costs.
Fr8Tech is committed to continuing to provide the best possible logistics solutions to Riisa and all of its clients.”
Fr8App continues to redefine the logistics landscape, empowering businesses like Riisa with cutting-edge solutions that enhance operational efficiency and elevate the overall shipping experience.

Fr8App Awarded Key Routes with Envases Universales

Retrieved on:

Lundi, février 26, 2024

Transport, B2B, USMCA

Fr8App was awarded key routes through Envases’ annual 2024 RFQ, underscoring Fr8App’s commitment to delivering exceptional transportation services and its capability to meet the evolving needs of its clients.

Key Points:

Fr8App was awarded key routes through Envases’ annual 2024 RFQ, underscoring Fr8App’s commitment to delivering exceptional transportation services and its capability to meet the evolving needs of its clients.
Over the duration of the commitment, Fr8App, through its advanced technology and experienced team, will be responsible for transporting more than 1,600 loads, ensuring the timely and secure delivery of Envases Universales’ goods.
“This collaboration not only speaks to our capabilities but also to the trust Envases Universales has in our ability to deliver exceptional service.
If Envases Universales experiences lower than expected customer demand or production output, the amount of the awarded routes may be adjusted accordingly.