Flexport, the shipping logistics company that launched in San Francisco just four years ago, is set to close a $110m Series C funding round. The investment values the company at $910m post money, says Wesley Chan, managing director at Menlo Park VC firm Felicis Ventures, an early investor in Flexport. The new round will bring the total capital invested to $204m.
The U.K.'s Freight Transport Association (FTA) welcomed Prime Minister Teresa May's call last week for a transition period as a key priority for Brexit negotiations. But, as May's Tories grip on power continues to erode against an ascendant Labor party, the prime minister's pragmatic turn might be too little, too late, and the future of U.K.-E.U. trade remains unclear.
The International Union of Marine Insurance has called for better fire-fighting systems on board container ships, citing its concern that current provisions are insufficient given the growing size of container vessels and a recent spate of fires on board ships.
Despite some typically cautious warnings that the current growth cycle may be nearing a peak, industry-wide freight tonne kilometer (FTK) growth is at its strongest pace since 2010 - and global business and consumer confidence levels point to solid improvement at least through the third quarter, IATA said in its Q3 2017 "Cargo Chartbook."
Shanghai International Shipping Institute recently published its Global Port Development Report for the second quarter of 2017, saying that cargo throughputs at major ports around the world continued to rise.
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