The freight broker and third-party logistics provider also said Wednesday it has completed the integration of truckload-oriented freight broker Command Transportation, LLC, which it acquired in June 2015 for $420 million.
The railroad transportation equipment manufacturer posted net earnings of $183.2 million in fiscal 2016, ended Aug. 31, a 5 percent decrease from the previous fiscal year, even as revenues reached a record $2.68 billion.
The Northwest Seaport Alliance will release two new mobile applications, DrayQ and DrayLink, in early November as part of an effort to speed cargo flow through the ports of Seattle and Tacoma and along local freight corridors.
Registration takes less than 1 minute.
The commission said it has “reasonable grounds” to suspect the carriers engaged in collusive practices to fix incremental cargo rates from Asia to South Africa.
The latest round of funding for freight forwarder Flexport shows early stage venture capital groups are nowhere near burned out on logistics technology startups.
The South Korean carrier said certain providers have been charging its customers more than what it would have charged to transport cargo and has tried to intervene, taking its concern up with the Federal Maritime Commission.