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.
Citing the ongoing economic slowdown in China and waning U.S. imports, the World Trade Organization on Tuesday slashed its 2016 global trade forecast to 1.7 percent from a previous projection of 2.7 percent growth this year.
For the port’s 2016 fiscal year, the Paul W. Conley Container Terminal handled 247,329 TEUs, a 12 percent increase from the 2015 fiscal year.
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Third-party logistics providers like Expeditors International of Washington have traditionally benefitted from disruptions in direct shipper/carrier relationships, according to a recent client note from William Blair Equity Research.
The world’s two largest container shipping carriers, Maersk Line and MSC, are beefing up their presence on the transpacific trade in the wake of Hanjin Shipping filing for receivership in Korea last week.
Carriers may seek to "turn the table" on shippers who drove hard bargains, but an upturn in rates may be short-lived.