Ship shake: Hanjin woes may help float tech, data start-ups

SINGAPORE (Sept 29): The global shipping industry, ravaged by collapsing revenues, defensive mergers and the failure of major player South Korea's Hanjin Shipping Co Ltd, is slowly waking up to the redeeming potential of technology.

While sensor-laden containers, smart ships and 3D printing have grabbed the headlines, the start-ups making the biggest inroads are those working on something more basic - streamlining the interaction between shippers, freight forwarders, and those actually transporting the goods.

"This is way up there on the list of insanely complex systems with enormous impact on the global economy," says Trae Stephens of Founders Fund, which this week led a US$65 million ($88 million) investment round in Flexport, a start-up focusing on providing logistics services and data.

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