High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Scott Borgerson has resigned from his role as CEO of CargoMetrics, the shipping data analytics company he founded in 2010, gCaptain has learned.
Privately-held CargoMetrics has confirmed that Borgerson did in fact resign as CEO and from company’s board in late July to “ensure his presence would not become a distraction from the work he believes in so deeply,” the company said in a statement to gCaptain.
CargoMetrics’ President and Chief Operating Officer Jes Scully has been appointed CEO of the company and he has also been named to the company’s Board, the company said.
Boston-based CargoMetrics Technologies was founded by Borgerson in 2010 as data-driven investment company that uses proprietary software to provide real-time insight into the global shipping industry. The company has long been considered a front-runner in the space of big data in shipping and has attracted investments from tech bigwigs such as Eric Schmidt, former CEO and executive chairman of Google, and hedge fund investor Paul Tudor Jones. In 2017, the company entered into an equity agreement with Maersk Tankers, giving the A.P. Moller-Maersk unit access to CargoMetrics’ data and software.
With Scully now at the helm, CargoMetrics says it is continuing its expansion in earnest.
“At CargoMetrics, we continue to be innovative leaders in tracking and analyzing global seaborne trade, providing valuable, predictive insight to those in the shipping and financial markets,” CargoMetrics’ statement said. “At this exciting time in our 12-year-old company’s evolution, long-time President and Chief Operating Officer Jes Scully has been appointed CEO and has been named to the CargoMetrics Board. There is no individual more qualified than Jes to lead our exceptional interdisciplinary team of software engineers, data scientists, mathematicians, and maritime experts as CargoMetrics realize its vast potential.”
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