SoftBank’s Vision Fund led the Series D round, which Flexport will use to improve technology, open offices and warehouses and hire employees with operational expertise.
But The Wall Street Journal is reporting the CEO had been under pressure for months to step down.
JAXPORT leaders at the annual State of the Port address report work may be completed two years ahead of the original schedule.
The company held a “Papa-Mama” seminar Thursday about the merits for men to participate in housework and child care.
Widespread jitters in the Australian political and business communities that China may have banned imports of Australian coal now appear to be unfounded. Customs clearance delays at Dalian are happening owing to entirely “normal” reasons and coal cargo can be re-routed around a given port anyway, coal mining and coal transport executives have explained to FreightWaves.
Up-and-coming freight forwarder aims to flip script in how to reach customers and Japanese fund is on board for that.
Restructuring of the global economy means that manufacturers are shifting their production centres nearer to the markets they serve, in a process that Maersk calls reshoring or near-shoring, and poses a risk to the liner industry’s future revenues.
The company says freight rates are higher as it begins contract negotiations with North American shippers.
C.K. Yoo is credited with helping HMM navigate a difficult period and last April was offered a three-year contract extension.
But world’s largest shipping company sees high number of risks going into 2019 with container demand expected to be down from 2018.
The ship, which was damaged by a container fire in early January, currently is at a yard in the Bahamas.
The strategic move positions the company to “more effectively provide economical shipping options for its clients throughout the Midwest and Northeast.”
A study finds year-over-year growth of 8.2 percent for freight traffic and 3.6 percent for number of vessels that transited the waterway.
Sydney-headquartered multi-modal logistics operator Qube has announced “solid” company earnings today. ASX-listed Qube revealed a small 5 percent increase in revenues and a large 36 percent increase in profits.
Flinders Ports, South Australia, had a mixed bag of containerised cargo throughput results in 2018 compared to 2017, new data analysis shows. Overall containerised throughput – which includes imports, exports, empties and boxes in various configurations – was essentially flat.
Class 1 railroad plans ongoing projects at intermodal facility which is near major shippers and new warehouse space.
DP World (NASDAQ Dubai: DPW) announced that it will repurchase P&O Ferries from Dubai World according to a DP World press release. The acquisition will be worth BGP (British pound sterling) 322 million or $421 million. (All values will be converted to U.S. dollars.)
Analyst predicts a slowdown in U.S. containerized imports and continuing shift to to East Coast ports.
Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.
TFI International agrees to $7.2 million purchase of the Atlanta-based express delivery service’s assets, including its Guardian Medical Logistics unit.
The Taiwanese liner carrier has until May to decide on an option for four slightly larger containerships from Japan Marine United Corp.
Largest ocean freight forwarder sees fuel bills increasing as much as 50 percent based on current price spreads.
The call will be a part of the company’s Pacific Express 3 service, which will create the “first direct connection” between the Vietnam market and central Florida.
Technology-driven logistics company names CFO; air cargo handler strengthens global network.
A solid quarter, year despite decelerating sequential net revenue.
Congress is handing out $93 million in federal grants for improvements at the nation’s top 15 container ports.
Cargo thefts fell 19 percent in 2018 compared to the year before, according to SensiGuard. Plus, the EU cuts a deal on truck emissions and another trucker protest is planned for this week.
Maritime groups tell California legislators not to give special treatment to Oakland Athletics.
Individuals knowing of a reason why an applicant should not receive a license should contact the Office of Transportation Intermediaries.
FMC reviews 23 OTI license applications
The U.S. Federal Maritime Commission has received 23 ocean transportation intermediary license applications and changes for review. The FMC received non-vessel-operating common carrier license applications from A.T.I. North Point, New […]
Ocean carrier sees debt upgrade thanks to hitting cost synergy targets and fleet’s better fuel efficiency will help save operating expenses.
With the acquisition, J.B. Hunt’s Final Mile division has grown to 100 locations and 3.1 million square feet of warehouses and facilities space.
Port Tampa Bay, Evergreen, Rand Logistics, American Airlines Cargo, Regions Bank, A&R Logistics and Los Angeles Customs Brokers & Freight Forwarders Association.
More than two-thirds of the Class I railroad’s $3.57 billion plan is going toward railroad maintenance.
A remotely operated subsea vehicle was used to inspect the hull’s submerged areas on a MOL Marine-operated cable-laying ship.
An Australian court has refused permission for the creation of a coking-coal mine in New South Wales on the grounds that it would adversely contribute to greenhouse gas (GHG) emissions and would set back the fight against climate change. Legal scholars are hailing the decision as a “hugely significant” ruling.
Michael Khouri discusses the FMC’s role as a regulatory agency in the ever-changing container shipping industry and what’s on his agenda for the remainder of 2019.
Year-over-year contract rates are projected to increase and overall rates are expected to remain mostly flat this year.
Vasquez, the new administrator, will take office in September; Espino de Marotta, who led the canal’s expansion program, will take office in January 2020.
Ports of Virgiana and Charleston put up strong numbers to start 2019, but regional Fed warns that slowdwon could be approaching.
V.Group has acquired Global Marine Travel (GMT) from Inchcape Shipping Services according to a V.Group press release. The acquisition will increase the scale of V.Group’s operations to offer global 24/7 travel services.
Containerized import volumes increased 9 percent last month over January 2018 totals.
Card carrying Conservative at North European ferry operator appeals directly to the British Shipping and Transport ministers, Nusrat Ghani and Chris Grayling respectively, in a bid to capture overspill freight from competitors following Brexit.
A 25 percent tariff on $200 billion worth of Chinese goods destined for the U.S. may get delayed again, but supply chain uncertainty persists.
Swiss freight forwarder looks to the Middle East for opportunity with deal for one-time provider of logistics services to U.S. military.
The Swiss forwarding company Panalpina and Kuwait-based Agility talk “partnership opportunities” while the Danish firm DSV makes an all-cash offer for Panalpina.
Longshoremen working for DP World Australia (DPWA) are fired up over an alleged threat to their income protection insurance. That benefit was granted to them by the company three years ago in the last round of negotiations for a collective employment contract known as an “enterprise agreement”.
FedEx shares also tumble over speculation that Amazon may handle more logistics work in house.
Customs and Border Protection said shipments on board the Yantian Express were in the process of being released prior to arrival in the U.S.
Interorient Marine Services will pay a $2 million fine to the U.S. government for attempting to conceal oily discharges into the Gulf of Mexico.
The record-setting stow took place at the PSA Singapore terminal on the ultra large containership’s westbound departure to North Europe.
Every three years each of the stevedore companies enter into a protracted and bitter dispute with the local longshoremen’s representative body, the Maritime Union of Australia. This short article explains how and why.
Wharfies are eyeing strikes at DP World Australia in pursuit of better terms and conditions in their next collective employment contract. Asian maritime shipping schedules and landside Australian logistics timetables could be thrown into disarray.
Maersk’s deal with New Jersey-based PBF Logistics secures 10% of the line’s IMO 2020 compliant fuel supply.
Rise in expansion and efficiency projects comes after strong year of growth in company’s intermodal business.
Philadelphia-area company will supply fuel equal to about 10 percent of Maersk’s needs
World’s largest container lessor says customer demand was supported by solid trade growth and increased reliance by carriers on leased containers.
Heads of less than container load and finance and a maritime director are appointed.
Never-ending peak season may finally be peaking as shippers rush in goods; shipowners tallying up the cost of scrubbers.
The European Union has solidified its position to create a technology platform that will allow ocean carriers to report standard data to port authorities.
Joint control over the airline by Air France-KLM, Delta and the Virgin Group will not impede air cargo competition on the continent, the European Commission said.
The Schulte Group has acquired a majority stake in TecHullClean Ltd. (THC). Schulte said in a press release that the acquisition will expand the range of its underwater ship inspection, repair and maintenance (IRM) solutions.
Maersk says it will expand the technology behind its customs house brokerage business as well as developing its integrated logistics business.
Customs house brokerage is a “sticky” service, and that’s what makes it attractive.
Backed by CI Capital, the Chicago-based company already has made two acquisitions this year.
Leading dry bulk operator lists out upsets in iron ore and soybean trade as shipping rates slide on weak China demand.
From sales to science, a slew of appointments take place in the U.S. and U.K.
Friday 15 February will be the day that some ships departing British ports, for six-week journeys across the globe, will need to know whether Britain is subject to a no-deal Brexit or is continuing as a member of the European Union and therefore which what documents to carry with them.
Deal for intermodal brokerage and logistics firm comes amid strong growth in Pacific Northwest market.
Maersk makes a move for Vandergrift Inc. as it steps up its efforts to become a genuine door-to-door operator.
Container shipping line Maersk will move 16 containers on river Ganges (National Waterway-1) from Varanasi to Kolkata in India on February 12, marking the entry of commercial shipping players in India’s nascent inland water transport network.
Maersk said its purchase will increase its North American customs staff from 80 to 250.
European ocean carrier needed approval from continent’s governing anti-trust body before taking offer to public shareholders.
The New Jersey-based less-than-truckload carrier plans for an “orderly wind-down of its operations.”
But Hyundai Merchant Marine saw growing revenue and a smaller operating loss in the fourth quarter.
NS invokes precision scheduled railroading as its seeks to match peer performance and lower its operating ratio.
The offer is for 30 Swiss francs per share, which values the Swiss company at 1.67 billion francs.
The global 3PL’s current chief operating officer will succeed John Wiehoff, who will retain his role as chairman of the board.
After more than five years of negotiations, the pact includes an immediate 17.72 percent pay raise, the union says.
The container is 100 percent recyclable and is touted to need repairs less often than one with a wooden floor.
Shippabo has created its own version of a fixed-rate contract, which helps small and mid-sized shippers gain access to direct-to-carrier contracts, allowing them to cut their shipping costs and secure reliable capacity.
The two firms will create a multimodal logistics company with more than $1 billion in freight under management.
The commission concluded the acquisition would not raise competition concerns.
United Nations report says trade is flowing to countries not involved in the dispute; Asia-to-Europe boxship trade is oversupplied.
The company’s Latin American container handling grew 23 percent year-over-year.
The first-of-its-kind retrofitting will have the battery sufficiency to allow the Hagland Shipping AS vessel to sail in and out of harbor on electric power for about 30 minutes.
A noticeable change in the pattern of trade is underway at Australia’s second biggest box port, Sydney’s Port Botany. Botany handled more boxes in the last calendar year than in 2017 – but those boxes arrived and departed on fewer, although larger, container ships.
Overcapacity and low utilization rates have plagued the Asia to Europe trades for some years, and with a further 1.1 million TEU capacity set to be delivered between now and the end of 2020, the supply and demand ratio is expected to affect freight rates up to the end of 2022.
The Airforwarders Association has found that direct participation by smaller forwarders in the Air Cargo Advanced Screening program remains minimal.
The International Air Transportation Association expects a slightly higher figure — 3.7 percent growth — in 2019.
Hawaii’s only Public Utilities Commission-regulated inter-island water carrier anticipates filing for another rate case in 2019, company president says.
The Food and Drug Administration has started accepting applications to develop a system to identify and trace certain drugs as they’re distributed within the U.S.
Cost of all-water transit could rise as higher price, low-sulfur fuel comes into play; Maersk offers a peak in the fridge.
Pacific carrier appoints VP, manufacturer hires sales chief, Hong Kong-based company expands focus and port authority gets new head of communications.
NYK Bulk & Projects Carrier’s order is for 25 bulk carriers, and BW LPG will have 12 LPG carriers retrofitted.
Queensland’s Port of Brisbane handled just under 1.4 million twenty foot equivalent unit (TEU) shipping containers in the last calendar year. Just under 29 per cent of all boxes handled were empty, according to the port’s trade statistics.
Lots of ideas for federal funding of infrastructure at Capitol Hill hearing, but the “pay-for” question still looms.
Reefer technology is changing fast and the internet of things is helping to accelerate changes to the industry. Maersk has launched an upgrade to its reefer container management system that includes the virtual sailor, captain Peter.
CEO Jens Bjørn Andersen tells analysts consolidation makes sense in an “extremely fragmented” 3PL industry.
