COPENHAGEN, July 6 (Reuters) - Maersk said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services. Maersk since 2016 has sold its oil and gas business and focussed on its container and logistics business for customers … [Read more...]
Maersk Acquires U.S. Customs House Broker Vandegrift
A.P. Moller-Maersk has acquired US-based Customs House Broker, Vandegrift Inc., underscoring the shipping giant's focus on the logistics sector in 2019. The deal marks Maersk's first acquisition of the year. Maersk says Customs House Brokerage is a key component in its strategy to become an integrated container logistics company, providing end-to-end solutions to … [Read more...]
Biggest Indian Cargo Company Wants to Build an Uber for Shipping
By P R Sanjai (Bloomberg) -- Allcargo Logistics Ltd. is emulating Uber Technologies Inc. to boost its business of sharing marine containers. A unit of the Mumbai-based Allcargo, ECU Worldwide, which aggregates orders from clients, plans to use Uber’s model to make it easier for clients to book marine freight. Allcargo, which reported a drop in profit in four of the past … [Read more...]
CMA CGM Looking to Expand Logistic Business with Investment in CEVA Logistics
CMA CGM, the world's third largest container shipping company by TEU capacity, will acquire 25% stake in supply chain management company CEVA Logistics as the French shipping giant looks to grow its presence in the logistics sector. CMA CGM announced Friday that it has committed to subscribe for mandatory convertible securities of CEVA in an estimated amount between 380 and … [Read more...]
TEU Tokens and Blockchain Could Shape the Future of Container Shipping
By Sam Whelan (The Loadstar) - Blockchain initiative 300cubits has created a new type of cryptocurrency to solve liner shipping’s US$23bn “booking shortfall” conundrum. Named TEU, the de-facto industry currency is distributed as tokens on the Ethereum network and will be tradeable on various global cryptocurrency exchanges. 300cubits claims the tokens will help to … [Read more...]