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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Members of California’s congressional delegation asked the federal government to get involved in the Hanjin insolvency, and Rep. Loretta Sanchez said Hanjin’s stranded ships may have goods needed to keep U.S. assembly lines running.
Mumbai-based Allcargo Logistics now operates the largest number of offices of any less-than-containerload consolidator in the world, with 300 offices across 160 countries.
Judge John Sherwood of the U.S. Bankruptcy Court for the District of New Jersey moved to recognize receivership proceedings in South Korea for the now insolvent ocean carrier Hanjin Shipping.