Shipping Net marketplace shuts down

MaritimeDirect.com, an online marketplace for the maritime shipping industry, closed its doors after an attempt to restructure its business model. The company, which had done business for two years, decided to shut down earlier this month after not being able to survive amid the economic downturn. MaritimeDirect said it could not meet the challenges of large-scale e-procurement in the maritime industry and faced difficulty trying to garner adequate financing to move forward. The marketplace provided access to more than 35,000 suppliers and service providers and about 15,000 pages of market information. It also furnished access to information on more than 3,000 ports including port conditions, layout, weather, tides and disbursements.

Jan. 2, 2002 4:43 p.m. PT

MaritimeDirect said it could not meet the challenges of large-scale e-procurement in the maritime industry and faced difficulty trying to garner adequate financing to move forward. The marketplace provided access to more than 35,000 suppliers and service providers and about 15,000 pages of market information. It also furnished access to information on more than 3,000 ports including port conditions, layout, weather, tides and disbursements.