All Business Articles – Page 19
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UK's logistics sector positive on Trans-Pacific Partnership trade deal
The UK's freight and logistics sector has welcomed news that the UK has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade deal although they say it won't be a "game changer".The CPTPP covers 500m people across Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore ...
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Record profits at DB Schenker help Deutsche Bahn back to black
Rail and logistics giant Deutsche Bahn (DB) was back in the black last year thanks to a record performance at its forwarding subsidiary DB Schenker.The forwarder, which DB is considering putting up for sale, last year reported earnings before interest and tax (ebit) of €1.8bn - an increase of almost ...
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Alibaba to split off its Cainiao logistics unit
Alibaba's logistics unit, Cainiao, is one of six units that will be split off from the main company as part of the firm's biggest restructuring in its 24-year history.In stock exchange fillings, the e-commerce giant said that the company would split into six groups each to be managed by its ...
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NewsDachser Air and Sea Logistics business growth down in 2022
Photo: DachserDachser's Air and Sea Logistics business growth slowed year on year due to increased capacity in air and sea freight and disruption to business in China.The division recorded a 16.7% increase in revenue in 2022 (€2.4bn) over the previous year (€2.1bn).However, the logistics provider noted the number of shipments ...
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NewsDSV targets semiconductor market with double acquisition
Source: DSVDSV is acquiring US logistics firms S&M Moving Systems West and Global Diversity Logistics as it looks to grow its presence in the semiconductor industry.The Danish forwarder said the deal would also align with its new Phoenix-Mesa Gateway Airport operations and support DSV's growing cross-border services to Latin America.Financial ...
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NewsSwissport to acquire majority stake in Düsseldorf Airport’s cargo handling unit
Photo: SwissportSwissport will acquire a majority stake in Düsseldorf Airport’s cargo handling unit.The cargo handler said it would take a 74.9% shareholding in Flughafen Düsseldorf Cargo GmbH.With this transaction, Swissport and Düsseldorf Airport will enter a long-term partnership to merge their existing air cargo handling businesses at the airport and ...
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FedEx raises expectation as cost cutting continues
FedEx saw fiscal third-quarter revenues and profits fall on last year but the company beat expectations and has raised its outlook as its cost-cutting measures continue.For the quarter ending February 28, the parcels giant reported a 5.9% year-on-year revenue decrease to $22.bn, operating income was down 24.5% to $1bn and ...
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DP DHL outlines criteria for any DB Schenker bid
Shortly after Deutsche Post (DP) DHL announced another set of record full-year results, the parcel and logistics giant's outgoing chief executive, Frank Appel, was asked about a report in German business title Manager Magazin that suggested the company could be preparing a bid for DB Schenker.The article said that DP ...
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Atlas Air expects takeover to complete in days
The takeover of freighter operator Atlas Air Worldwide Holdings is expected to complete in the coming days after the company gained the necessary approvals.In a stock exchange filing, the New York-headquartered firm said that as of March 14 "all regulatory conditions to closing set forth in the merger agreement were ...
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Three banks selected for DB Schenker sale
Deutsche Bahn has appointed three banks as it moves forward with the sale of its freight forwarding subsidiary DB Schenker, according to Reuters' sources.The report said that the rail group has chosen Goldman Sachs, Morgan Stanley and Deutsche Bank for the sale.Final details on the sale are still being decided, ...
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DHL Global Forwarding reports record airfreight revenues
DHL Global Forwarding reported record airfreight revenues last year but performance weakened as the year progressed.The world's second-largest airfreight forwarder saw airfreight revenues increase 18.7% year on year in 2022 to €10.4bn while air gross profits improved 48.5% to €2bn. These improvements came despite a 9.3% decline in volumes to ...
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Cathay Cargo sees revenues weaken in 2022
Cathay Pacific saw its cargo revenues decline by double-digit percentage levels last year as Covid restrictions affected operations.The airline reported a 16.6% fall in cargo revenues to HK$26.9bn in 2022 while cargo revenue tonne kms (CRTK) fell 29.8% year on year to 5.7bn and capacity was down 19% to 8.2bn ...
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ANA to take over Nippon Cargo Airlines
NYK has entered into an agreement to transfer all shares in B747 freighter operator Nippon Cargo Airlines (NCA) to All Nippon Airways Holdings (ANA).The shipping group said that it had made the decision due to the ongoing cost of running the cargo airline."The continuous introduction of new aircraft to expand ...
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Lufthansa Cargo not expecting overcapacity on Asia-Europe
Lufthansa Cargo is not expecting cargo capacity to flood the Asia-Europe trade over the coming year due to the extra distance airlines will need to travel to avoid Russian airspace and as older tonnage leaves the market.Speaking on the day the cargo business announced record operating profits for the third ...
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NewsLufthansa Cargo reports third year of record operating profits
Lufthansa Cargo reported record revenues and operating profits last year despite volumes being flat on 2021 levels.Lufthansa's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters, HeyWorld and a 50% stake in AeroLogic, last year saw revenues increase by 22% year on year to €4.6bn while earnings before interest and tax ...
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NewsAir cargo capacity rises above pre-pandemic level while industry faces risk of zero growth
Air cargo capacity is continuing to climb and rose above the pre-pandemic level for the first time in four years, according to the latest market analysis from CLIVE Data Services.Global air cargo capacity increased for the eleventh consecutive month in February, up 11% on the same period last year.Meanwhile, global ...
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K+N reports record air volumes and revenues despite weakening market
Kuehne+Nagel has reported record airfreight volumes and revenues for 2022 despite performance weakening in the second half of the year.The world's largest airfreight forwarder reported a full-year air revenue increase of 7.6% year on year to Sfr12.4bn, earnings before interest and tax (ebit) for its air business was up 20.7% ...
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ATSG reports record revenues but predicts block hour decline in 2023
Freighter aircraft lessor ATSG reported record revenues in 2022 but is expecting its block hours to decline this year.The Wilmington, Ohio headquartered firm last year saw its revenues increase 18% year on year to $2bn, adjusted earnings before interest, tax, depreciation and amortisation (ebitda) increased 18% to $641m but net ...
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IAG Cargo sees volumes grow in 2022 despite revenue drop off
IAG Cargo saw its cargo revenues decline last year despite a slight pick up in volumes as bellyhold operations returned following the Covid pandemic.The cargo division, which offers capacity on British Airways, Iberia and Aer Lingus, saw cargo revenues for the full year decline by 3.5% year on year to ...
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Expeditors revenues and volumes down
In its fourth-quarter 2022 financial results for the three months ended December 31, Expeditors International posted year-on-year declines in operating income, revenues and volumes as demand normalised after the pandemic – and then fell off in response to economic uncertainty.Operating income for the logistics firm decreased by 47% to $330m ...