Sydney-based logistics startup Shippit has raised US$22.4 million (A$30 million) in a series B round led by US-based tech investment firm Tiger Global, as it looks to tap new markets in Southeast Asia. The e-commerce and logistics company said it will use the funds for product development and new hires, aiming to add another 100 people to double its staff across Asia Pacific, including 50 software developers. Also read: SingPost, Shippit team up to boost parcel delivery for … [Read more...] about Logistics tech startup Shippit nabs US$22m funding, eyes Southeast Asia growth
E-commerce
Malaysia Airport’s new hub with Alibaba aims to bolster e-commerce, air cargo
The Cainiao Aeropolis eWTP Hub, Malaysia, a joint venture between Malaysia Airports and Alibaba, has officially started operations at Kuala Lumpur International Airport (KUL) and is expected to allow 24-hour delivery within the country. Formerly known as KLIA Aeropolis DFTZ Park, the e-fulfilment hub spans 60 acres (2.6 million sqft) with 1.1 million sqft of warehouse space and is expected to double KUL’s cargo volume to 1.4 million per year by 2029. Operated by Cainiao Smart Logistics … [Read more...] about Malaysia Airport’s new hub with Alibaba aims to bolster e-commerce, air cargo
DSV looks to boost e-commerce service with Prime Cargo purchase
DSV Panalpina is eyeing to ramp up its e-commerce game as the Danish company announced plans to acquire Prime Cargo, owned by Japanese logistics group Mitsui-Soko, including the forwarding company’s business in Denmark, Poland and China. Prime Cargo's expertise within e-commerce is well known and the company operates fully automated warehouses similar to DSV’s Oslo facility. Also read: DSV ramps up innovation at Oslo facility, works with startups on Plug & Play “Prime Cargo in … [Read more...] about DSV looks to boost e-commerce service with Prime Cargo purchase
SingPost eyes stake in Australian 4PL to boost e-commerce push
Singapore Post (SingPost) is looking to purchase a 38 percent stake in Freight Management Holdings (FMH), a fourth-party logistics (4PL) service company based in Victoria, Australia, for US$62 million (A$85.0 million). Its wholly-owned subsidiary SingPost Logistics Holdings on 16 October entered into a conditional sale and purchase agreement with the existing shareholders of FMH, as well as share subscription agreement with the Australian 4PL for the stake purchase, according to a bourse … [Read more...] about SingPost eyes stake in Australian 4PL to boost e-commerce push
Budapest Airport signs cooperation agreement with STO Express and EKOL
Budapest Airport has signed a cooperation agreement with STO Express from China, and EKOL, the European 3PL company with a strong presence in Hungary. The agreement establishes a cargo transportation network to deliver e-commerce products arriving from China to European customers. STO Express will operate scheduled cargo flights to Budapest Airport, which is likely to generate a significant increase not only in total cargo traffic, but also in the field of e-commerce, the main … [Read more...] about Budapest Airport signs cooperation agreement with STO Express and EKOL
DHL simplifies air freight quotations and bookings
DHL Global Forwarding introduces a new online freight quotation and booking service for international air freight transportation. The new service rapidly creates competitive customer quotations based on door-to-door all-in rates and transit information. The quotation and booking service connects to DHL Interactive, the global forwarding’s online customer portal, where it provides shipment tracking and the creation and distribution of customized shipment reports. The new online … [Read more...] about DHL simplifies air freight quotations and bookings