DP World, which already invests in Hyperloop One, is a Dubai-based port owner that controls terminals all over the world. It has holdings on major freight routes in Asia, Africa and the Middle East and would gain a lot from a fast-transit network of its own. Much like co-founder Shervin Pishebar said in 2016, Hyperloop One could connect Europe and China to create a "new Silk Road."

There's clearly demand for it, too, since shipping products from China to the west can take several weeks at the present time. Cutting journey times down and saving money would benefit pretty much every manufacturer and exporter in the world. DP World could, theoretically, receive products from China by sea, and then zoom them to Europe in a matter of hours.

.@richardbranson says he's considering name change for Virgin Hyperloop, saying the company is "way ahead" of other companies focused on high speed transportation technology. pic.twitter.com/612c73NgwL — CNBC International (@CNBCi) April 30, 2018

The announcement is pretty dry and procedural, except for one thing that chairman Richard Branson let slip to CNBC. The billionaire said that "wether we actually keep the name Hyperloop is something that we're questioning." It seems like Branson has an eye on distancing the company from other Hyperloop teams, and certainly using the Cargospeed name would play into that narrative.