WiseTech's Shares Fall Over 15% After Entering Strategic Partnership with Australian Container Logistics Firm

MT Newswires Live

08/27

WiseTech Global's (ASX:WTC) shares fell over 15% in early trading on Wednesday after the firm said late on Tuesday that it entered a strategic partnership with ACFS Port Logistics to begin the rollout and commercialization of its Container Transport Optimization platform across Australia.

ACFS will implement the platform to optimize container movements across its operations and infrastructure. It will digitize and optimize key processes in container transport, including booking, dispatch, runsheet management, digital tracking and validation, and clearance workflows.

The platform applies optimization algorithms against data sets to maximize container transport efficiency, increase equipment utilization, as well as reduce costs and environmental impact.

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