Singapore and Tanjung Pelepas, side by side on the strait
The company starts with its headquarters (HQ) at its home port. It gets one more hub every 15 company levels (15, 30, 45, 60, 75, 90: 7 locations in all). A hub is founded from any port's popup ("Build a hub here", click again to confirm) and is permanent.
Each HQ/hub levels from 0 to 40 on the XP of every delivery unloaded at its port (the same XP the company gets), and of every full load shipped out of it by a ship that arrived empty (a one-way route out of the hub: the hub gets the XP the load will earn where it's delivered, when it's loaded; the company and ship still get theirs on delivery). Level L to L+1 costs (5 + 0.7 x L) minutes of a quarter of a full fleet's XP at the current company level, so a hub taking about a quarter of the fleet's deliveries maxes out in about 12.5 hours.
Each level is an upgrade point, spent in the port popup on four paths of up to 10 points each. Each point also costs money: $2M for a path's first point, then $500k more for each point already in that path ($2.5M, $3M... $6.5M for the 10th; $42.5M for a full path). The buttons show the price and grey out when you can't afford it; the Finances tab totals it as "Hub upgrades". They boost every ship docking there: Ship XP +5% per point (ship XP only, not company or hub XP), Fuel & repairs -3% price, Port stops -5% time (unloading, repairs and refueling all speed up), Pay +2% on deliveries unloaded there. The HQ's bonuses are 1.5x a hub's.
Every delivery unloaded at an HQ or hub also earns the company extra XP, free with the hub's level: +10%, plus 10% more for every 10 hub levels (+20% at level 10... +50% at level 40). The HQ's is 1.5x (+15% up to +75%). The hub's own XP and the ship's aren't boosted by it. The Hubs cards and port popup show it, e.g. "Company XP +30% on deliveries here (+40% at level 30)".
On the map, the HQ and hubs have a ring in the company color around their port (heavier for the HQ; gray on the Route Assignment map). A small red dot sits just up and to the right of any HQ or hub with an upgrade you can buy now. The Hubs tab shows a black dot while a hub has an upgrade you can buy (a point and the money) or a new hub can be founded.
New ships launch at the HQ or any hub, chosen when buying; recovery boats are then re-based across the hubs (see Lost ships and recovery boats).
Industry: every HQ and hub has room for 3 commodity buildings, on the quay behind the marina's basin, on the side across the channel from the HQ building (+y), in a row of equal square plots nearest the basin. One plot opens at each of hub levels 10, 20 and 30. Each building is one commodity's; a hub can't have two of the same, but the same one can be built at other hubs. Each costs a flat $15M (Finances "Hub upgrades") and can be pulled down (confirmed) for half back, freeing the plot. At its port, for its owner's ships only, its commodity costs 20% less to buy and sells for 20% more, and every delivery of it loaded or unloaded there earns 50% more company and ship XP. Built from the Hubs tab (each card's Industry section) or by clicking a plot on the map (an industry popup with the same section): an open plot shows "Build ($15M)", which opens a picker of every commodity's building (ones already there greyed); a built one shows its boosts and "Pull down". On the map an open, empty plot of this player's own hub is marked out with a dashed line; built ones show their art with a shadow, at any company's hub. In multiplayer they're host commands. Saved with each hub.