The San Francisco-based freight forwarder, which has now raised a total of $94 million to fund global expansion, said it is constructing a new operating system for global trade that will unite the world in a seamless web of commerce.
In addition, the Baltic Exchange has named Mark Jackson its new chief executive officer, who is replacing the current CEO Jeremy Penn.
Transportation planners and industry executives briefed House lawmakers last week on progress made so far with implementing freight provisions of the FAST Act.
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Price, port coverage and transit times are traditionally the primary determinants in choosing a container carrier or service loop, but with vessels stopping at fewer ports and sailing slower than ever before, it's fair to wonder if this is still the case.
Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."
A survey conducted by American Shipper revealed that 40 percent of participants believe the most likely outcome of Hanjin’s predicament is that its assets will be liquidated and acquired by multiple carriers.