Transportation: Page 426

South Korean Government Signals $91 M to Support Hanjin Shipping

Government officials in Seoul said that more than $90 million of public funds could be available to the stricken company if it could also raise money from other sources.

Hanjin GateofLongBeach 57cecd987b097

Kroger Commits to 100% Cage-Free Eggs, Launches Private Label Line

A Kroger-branded line of eggs that quietly hit shelves nationwide this week will make them more affordable to a wider range of consumers.

poultry backyard 54b54eac50d30

Northern Transportation Faces Bankruptcy

Northern Transportation, which delivered construction material to the Distant Early Warning system during the Cold War and the first drilling rig to Alaska’s Prudhoe Bay in 1963, is sinking in debt and faces the end of court-ordered bankruptcy protection.

Owned by an Inuvialuit corporation, the company owes $130 million, most of it to a consortium of Canadian banks.

Ocean Ports & Carriers

Hyundai Merchant Marine to Acquire Hanjin Shipping’s Assets

The creditors and financial authorities opted for the receivership of Hanjin Shipping and the acquisition of Hanjin’s core assets by Hyundai Merchant Marine, with the idea to achieve a merger between the two national flag carriers at a minimum cost.

The financial authorities and creditors are estimating that Hyundai Merchant Marine will have to spend 300 billion won to 400 billion won on the key asset acquisition.

Ocean Ports & Carriers

Port Of Charleston Welcomes its Largest Container Ship

The Yangshan, which measures 1,140 feet long and 148 feet wide, can transport up to 10,700 twenty-foot equivalent units (TEU).

The Yangshan’s milestone visit comes on the heels of the arrival of two new cranes last month, boosting big-ship handling capabilities at SCPA’s Wando Welch Terminal.

GE Transportation Acquires ShipXpress

ShipXpress Inc.

The agreement extends GE Transportation’s portfolio of solutions into the logistics value chain, giving it new offerings for shippers, and expanding its ability to deliver information and transaction services for railroad customers around the world.

GE Transportation, a producer of rail and transportation-related products and offerings, has acquired ShipXpress, a provider of cloud-based software solutions that enable transportation, industrial, and commodities businesses to efficiently operate with supply chain partners.

Ocean Ports & Carriers

Hanjin Shipping Vessels Stranded at Ports as Bankruptcy Fallout Unravels

A number of vessels have been halted outside of port entrances. Two Hanjin ships scheduled to call Wednesday in LA/Long Beach are now at anchor offshore and no longer plan to berth.

The Hanjin Rome was arrested in Singapore following a court petition late Monday, and shipowner PIL has reportedly refused to allow the Hanjin Mexico (above) to continue its commercial voyage due to unpaid charter fees; the Mexico was drifting off Ulsan as of Wednesday evening.

C.H. Robinson to Acquire APC Logistics

C.H. Robinson Worldwide, Inc.

The two companies have had a long-standing exclusive agent relationship for business in Australia and New Zealand.

The acquisition is expected to be accretive in 2016 and 2017 and will be financed through cash and funds drawn from C.H. Robinson’s existing revolving credit facility.

How Instacart is Changing Grocery Stores: An Inside Look

Instacart’s shoppers — who pick up all the items that customers order online, then pay for and pack them before delivery — breeze through Instacart-only express lanes at stores like Costco, Whole Foods and regional groceries like Mollie Stone’s.

Eventually, Instacart wants to offer a “bypass checkout” feature to its personal shoppers, and eventually to anyone who uses the Instacart app. This would let shoppers simply skip the register and instead scan and pay for items from their own phones.

Emerson Acquires Locus Traxx and PakSense

These investments in cargo solutions allow Emerson to provide consistent and safe control of food and other temperature-sensitive goods.

Emerson is a partner with shipping companies, trucking lines and refrigerated container manufacturers, providing technology and services to ensure the integrity of cold chain assets.

Ocean Ports & Carriers

Hanjin Shipping Co. Files for Receivership, Ports Deny its Vessels

A bankruptcy for Hanjin Shipping would be the largest ever for a container shipper in terms of capacity, according to consultancy Alphaliner, exceeding the 1986 collapse of United States Lines.

Hanjin Shipping announced the filing for receivership and a request to the court to freeze its assets, which the Seoul Central District Court planned to grant, a judge told Reuters, declining to be named.

Freight Marketplace Operator Freightos Acquires WebCargoNet

WebCargoNet maintains a database of global air-freight rates, allowing Freightos to list a wider variety of routes and modes of transportation in its marketplace.

Freightos claims inefficiencies in the freight shipping business amounts to about 26 percent of all containers shipped annually and about 30 percent of all trucks on the road being empty.

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