The funds will mostly be spent on further development of its platform for shippers, including investment in AI.
Ports in Europe and Asia, especially Rotterdam, Antwerp, Singapore and Shanghai, have been grappling with congestion-related issues such berthing and cargo delays for several months.
The nearly two-year project to complete Bayport’s Wharf 7 will allow the terminal to handle more ships as work on widening the Houston Ship Channel continues.