San Francisco startup Flexport Inc. raised $65 million in venture capital to expand U.S. and global operations, the company announced Sept. 26.
September 29, 2016Logistics News
For the commercial transportation business, moving things from point A to point B is job one. This coverage explores all of those movements at a global level and focuses on everything from global trade, ocean shipping, and port activity to intermodal business, rail operations and the greater supply chain.
Flexport Raises $65 Million in Venture Capital to Expand Operations
DHL Acquires UK Mail for $315.5 Million
Deutsche Post DHL Group has agreed to acquire UK Mail Group on Sept. 28 for 242.7 million pounds ($315.5 million), enhancing the company’s presence in the e-commerce market in Great Britain.
September 29, 2016Shipping Technology Startups May Get Boost From Hanjin Woes
SINGAPORE — The global shipping industry, ravaged by collapsing revenues, defensive mergers and the failure of major player Hanjin Shipping Co. slowly is waking up to the redeeming potential of technology.
September 29, 2016Houston Port Credited for Being 'Creative' to Move Hanjin Cargo
Port of Houston Authority officials acted quickly to deliver stranded cargo after Hanjin Shipping Co. sought bankruptcy protection, offering to move and release the containers for a reduced fee.
September 29, 2016South Korean Court Considering Sale of Hanjin Shipping
The South Korean court overseeing Hanjin Shipping Co.’s receivership is considering a sale process for the entire container line, a month after the debt-laden company’s filing roiled supply chains worldwide.
September 29, 2016Appeals Court Rejects XPO Bid to Invalidate Texas Union Vote
The 5th Circuit Court of Appeals has rejected XPO Logistics’ bid to throw out an unfavorable union representation vote at Laredo, Texas, during 2014.
September 28, 2016Maersk Raided in South African Shipping Collusion Probe
South Africa’s Competition Commission searched the premises of six shipping companies, including AP Moeller-Maersk A/S, as part of an investigation into allegations that they colluded to fix incremental cargo rates between Asia and South Africa.
September 28, 2016Consumer Confidence Hits Nine-Year High on Job Optimism
Consumer confidence rose in September to the highest level since before the last recession on optimism about the labor market, according to a report from the New York-based Conference Board on Sept. 27.
September 27, 2016Maersk May Target Hanjin, Hyundai in New Acquisition Strategy
A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd.
September 26, 2016Hyundai Merchant Said to Be Looking at Buying Hanjin Assets
Hyundai Merchant Marine Co., South Korea’s second-largest container line, surged in Seoul trading after the company was said to be looking at some assets of troubled rival Hanjin Shipping Co. for a possible acquisition.
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