Cargo Theft Risks, Port Cargo Down, STB Blocks UP-NS Filing

This week in logistics, in Mexico, cargo theft may have fallen 21.5% in official data, but private trackers show risks still concentrated in key industrial corridors and high-velocity goods. At the ports, 2025 ended with an 8.8% drop in total maritime cargo even as containers stayed resilient and cruise traffic surged 12%, reshaping the outlook for operators heading into 2026. 

In the United States, FedEx pushed its Freight spin-off further down the runway, while regulators threw an early procedural roadblock at the proposed UP-Norfolk Southern mega-merger, calling the filing incomplete and setting a June 22, 2026 refile deadline. 

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Cargo Theft in Mexico Fell 21.5% in 2025, but Risks Persist

Cargo theft remained a major risk for Mexican logistics in 2025. SESNSP reported a 21.49% annual drop, but private data shows hotspots clustering around industrial hubs in the State of Mexico and Puebla, with food and beverages the top target (27%).

Mexican Port Cargo Fell 8.8% in 2025 as Cruises Rose 12%

Mexico’s ports closed 2025 with softer cargo but stronger tourism, maritime tonnage fell 8.8% to 248.7 million t as petroleum and mineral bulk declined, while containers rose 1.6% to 9.5 million TEUs and cruise passengers jumped 12% to 11.2 million.

FedEx Advances FedEx Freight Spin-Off

FedEx Corp. has taken a formal step toward separating its less-than-truckload (LTL) business, announcing the filing of a Form 10 registration statement with the US Securities and Exchange Commission (SEC) for the planned spin-off of FedEx Freight. The company says the separation remains on track for completion on June 1, 2026, subject to final approval by the FedEx board and other customary conditions. 

STB Rejects UP-NS Merger Filing as Incomplete

The STB rejected UP and Norfolk Southern’s merger filing as incomplete, citing missing full-system impact and market-share projections plus incomplete deal documentation, while giving the railroads until June 22, 2026 to refile amid growing shipper, labor, and political backlash.

GMXT Moves Forward With BMV Delisting After CNBV Notice

GMXT received CNBV authorization on Jan. 15, 2026 to cancel its share registration in the RNV, clearing a key hurdle to delisting from the BMV, and activated an irrevocable trust to buy any remaining minority shares after its 2025 tender offer.

J&T, SF Holding Seal Strategic Cross-Shareholding Deal

J&T Global Express and SF Holding agreed to a US$1 billion cross-shareholding to build a “smart logistics ecosystem,” with SF taking 10% of J&T and J&T taking 4.29% of SF, pending shareholder, listing, and regulatory approvals as they target faster cross-border e-commerce delivery.