Hong Kong-based CargoX raised $7 million through an initial coin offering to build its smart contract-based house bill of lading solution.
A U.S. District Court in Minnesota sentenced a former Canadian Pacific Railway employee to a year in prison on Tuesday for his deliberate attempt to sabotage the company’s computer system.
Terminals operated by Yildirim Group subsidiary Yilport Holding handled 4.3 million TEUs of containerized cargo in 2017, and the firm expects to move 4.73 million TEUs this year, Yilport said in a statement.
Short-line and regional railroad operator Genesee & Wyoming (G&W) posted a net income of $549.1 million for the year, a 289 percent increase from 2016, according to the company’s latest financial statements.
However, the South Korean ocean carrier recorded a deeper net loss for the year, partly due to a 479.5 billion won loss in the book value of 10 containerships sold to Korea Shipping and Maritime Transportation in March 2017.
E2open had made a $300 million offer for global trade management software provider Amber Road, but the company’s board said the offer wasn’t in shareholders’ best interest
Demand is poised to outstrip supply in all three segments of the international ocean shipping industry in 2018, but risks of an ill-timed “ordering spree” for new ships remain, according to a recent report from credit ratings provider S&P Global Ratings.
The Hoofddorp, Netherlands-based third-party logistics provider will seek an initial public offering that would value the company at $1.5 billion by April, according to a report from the New York Post citing “a source close to the situation.”
The Southern California seaport handled 657,830 TEUs of containers in January, 12.9 percent more than in January 2017, and an all-time high for the month.
Chicago-based freight broker and third-party provider Echo Global Logistics posted a net income of $13.3 million in the fourth quarter of 2017 compared to a $3 million loss the previous year, according to the company’s most recent financial statements.
The containership owner recorded a net income of $22.8 million for the quarter, a sharp increase from a net loss of $446.6 million for the fourth quarter of 2016 when it had encountered headwinds from the aftermath of Hanjin’s insolvency.
Net orders for North American Class 8 trucks in January 2018 jumped 28 percent from the previous month and 116 percent compared with January 2017, according to preliminary data from freight forecaster FTR Transportation Intelligence.
MSC selects Terminal Investment Limited (TiL) CEO, Port of Redwood City executive director retires, the Suddath Companies appoints president of Global Logistics, and the Chartered Institute of Procurement & Supply (CIPS) names group CEO.
Uber CEO Dara Khosrowshahi said that although his company and Waymo parent Alphabet “won’t agree on everything going forward, we agree that Uber’s acquisition of Otto could and should have been handled differently.”
The Taiwanese shipping company revealed Monday that it has entered into an agreement with Shoei Kisen Kaisha to charter 12, 11,000-TEU containerships.
Upon completion of the merger of Japan’s NYK, “K” Line and MOL, the combined Ocean Network Express (ONE) will begin taking slots on three existing services between Asia and the west coast of Latin America.
The latest projection comes as ports covered by the National Retail Federation’s Global Port Tracker handled 1.72 million TEUs of imports in December and 20.5 million TEUs for 2017, year-over-year increases of 8.4 percent and 7.6 percent, respectively.
The South Korean shipbuilder posted a net loss of KRW 572.3 billion for the quarter, compared to a net loss of KRW 351.8 billion for the fourth quarter of 2016.
The United States exported $7.27 billion worth of beef and $6.49 billion worth of pork in 2017, up 15 percent and 9 percent year-over-year, respectively.
The third-party logistics and multi-modal transportation services provider recorded a net income attributable to common stockholders of $3.3 million for its fiscal year 2018 second quarter, which ended Dec. 31, 2017, a 58.6 percent year-over-year increase.
