The freight rate marketplace and management software provider's venture capital investment has now topped $50 million as it seeks to digitize the freight rate environment.
The Seattle-based e-commerce giant’s acquisition of SOUQ.com, the largest online retail and marketplace platform in the Arab world, is expected to close some time in 2017.
Future safety gains in the freight transportation industry “are being held back by government red tape that stifles innovation and improvement,” according to a new report from the Competitive Enterprise Institute.
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Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.
Analysts have speculated ZIM could be the next firm swept up in the wave of consolidation in the ocean shipping industry, but the Israeli carrier has outright rejected the idea it is looking to sell its global operations.
The London-based shipping research and consulting firm said expenses have been cut to the bone in the past two years, so increases would not be unexpected.