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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Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
Ocean carrier CMA CGM of France, Germany’s Hapag-Lloyd and Hamburg Sud, and MOL of Japan issued general rate increases on various trades.
A bankruptcy court in Newark, N.J. will hear requests for modifications as Hanjin Shipping’s biggest shareholder, Korean Air Lines, has postponed a decision to provide cash to the carrier.