In this edition: FreezPak chooses a new warehouse location, DP World expands globally and fruit coating as packaging replacement.
Los Angeles-based Virgin Hyperloop, formerly Virgin Hyperloop One, has raised more than $400 million in private capital since its founding in 2014.
DP World announced it has acquired Auburn Hills, Michigan-based supply chain solutions provider syncreon at an enterprise value of $1.2 billion.
Ongoing labor dispute has “paralyzed” port operations.
“This outperformance once again demonstrates that we are in the right locations, and a focus on origin and destination cargo will continue to deliver the right balance between growth and resilience,” Sultan Ahmed Bin Sulayem says.
The new class of container ships is part of HMM’s quest to achieve net-zero carbon emissions by 2050.
Global market uncertainty weighed down Canada’s largest container port in second half of 2019.
Purchase of Canadian port operations part of global strategy “to connect directly with customers to offer logistics solutions and remove inefficiencies in the supply chain to accelerate trade.”
DP World has been awarded a contract that will result in expansion of a container terminal in Jeddah, Saudi Arabia.
Fourth-largest ports operator sees tepid volume growth, but logistics provides offset.
A Chicago startup has proposed using crane rails to move containers in and out of terminals to ease congestion in the era of mega-ships.
PSA International Pte Ltd said it has completed the acquisition of Halterm Container Terminal in Halifax, Nova Scotia, from a fund managed by Macquarie Infrastructure and Real Assets.
A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route.
Developing markets offer high growth, but high risk, as dispute between east African nation and Dubai firm forces Chinese ports operator to refinance loan.
International terminal mega-operator, DP World, has announced a solid set of results for 2018. Revenues, earnings before interest taxation depreciation and amortization (EBITDA), and net profit all substantially increased last year compared to 2017. Acquisitions and increased box volumes drove revenues and profits. DP World has announced investment plans for 2019.
DP World (NASDAQ Dubai: DPW) announced that it will repurchase P&O Ferries from Dubai World according to a DP World press release. The acquisition will be worth BGP (British pound sterling) 322 million or $421 million. (All values will be converted to U.S. dollars.)
Longshoremen working for DP World Australia (DPWA) are fired up over an alleged threat to their income protection insurance. That benefit was granted to them by the company three years ago in the last round of negotiations for a collective employment contract known as an “enterprise agreement”.
The early summer truck strike continues to impact Brazil, Narvar raises $30 million in funding, GreyOrange picks Atlanta for its US headquarters, and more in today’s pickup…
World’s fifth largest ports operator steps up its logistics services with acquisition of short-sea and intermodal operator Unifeeder.
Dubai Ports World’s Thames wing, DP World London Gateway, has unveiled its latest tool called “Where’s My Container” (WMC), an app created to help stakeholders in the logistics space track their freight.
