All Business Articles – Page 23
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News
Forwarder deugro sells its Russian business
Project forwarder deugro has sold its Russian business following the outbreak of war in Ukraine.The company said that the deal was completed on September 5 and the sale was a buyout by former local management."This concludes deugro’s intent of divesting its interests in Russia since the advent of the war ...
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Freight data platform Xeneta raises funding to expand
Sea and airfreight data provider Xeneta has raised $80m in funding that will be used to expand its commercial team and invest in developing the platform.Xeneta, which acquired airfreight data firm CLIVE Data Services in January, said the investment was led by private equity advisory form Apaz, with participation from ...
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REPORTS: Deutsche Bahn to sell DB Schenker
The German federal government and Deutsche Bahn have agreed to sell the state-owned rail operator's freight forwarding subsidiary DB Schenker, according to news agency Reuters.Quoting sources at both Deutsche Bahn and the government, Reuters said that the sale would be approved as early as this year.The sale could take then ...
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Growing EV Cargo acquires 75% of Air Express Cargo
Freight forwarder EV Cargo has purchased a 75% stake in Spain-based Air Express Cargo as it looks to expand its presence in Europe.Air Express Cargo was formed in 2004 and operates out of offices in Madrid, Barcelona and Valencia, providing air and sea forwarding and customs brokerage services on behalf ...
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NewsIs air cargo set for a better-than-expected peak season?
The air cargo demand figures for August could signal a better-than-expected end to the year, according to data provider CLIVE Data Services.The latest figures from Xeneta-owned CLIVE show that in August air cargo demand was 5% down on a year earlier, a more modest decline than the 8% and 9% ...
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InsightsShepherd looks ahead as IAG Cargo builds back
David Shepherd returned to IAG Cargo after a two-year stint at Aer Lingus at an important time for the business.When David Shepherd returned to IAG Cargo in August last year as managing diretor, the cargo market was still red hot as it contended with soaring demand on the back of ...
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InsightsAcquisition hungry Worldwide Flight Services targets global growth
Worldwide Flight Services’s (WFS) Craig Smyth speaks to Damian Brett about the air cargo logistics company’s growth plans, while it also tackles recruitment and schedule volatility.Cargo handler Worldwide Flight Services (WFS) has set itself some ambitious growth targets for the coming years.WFS chief executive Craig Smyth tells Air Cargo News ...
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Insights
Putzger perspective: Air cargo's descent to normal
Economic turmoil is emerging worldwide and both airfreight rates and demand are feeling the strain, writes Ian Putzger.The music is still playing, but the party is drawing to a close. Now the question is if a hangover lies ahead.According to CLIVE Data Services (now part of Xenata), airfreight volumes and ...
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Airfreight rates to grind lower despite high inventories
Airfreight rates are expected to "grind directionally lower" or remain stable compared with current levels despite figures showing high inventory levels.Writing in his monthly column in the Baltic Exchange newsletter, senior analyst at investment bank Stifel Bruce Chan pointed to US Census Bureau figures that showed inventory levels continued to ...
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NewsEtihad Cargo implements new CRM system
Etihad Cargo Contact Centre. Source: Etihad CargoEtihad Cargo has implemented a new customer relationship management (CRM) system as the latest step in its digitalisation drive.The cargo business said that it would now use the Microsoft Dynamics 365-driven Pulse CRM system, which will provide customer service agents with more customer-focused data.The ...
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Deadline extended for air cargo sustainability awards
The deadline to submit entries to the fourth edition of TIACA's Air Cargo Sustainability Awards has been extended to September 12.The competition aims to recognise "outstanding businesses and industry initiatives leading the way to a more sustainable air cargo industry".The awards are divided into two categories: The Start-Up and Small ...
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News
Maersk continues push into logistics with latest takeover
Shipping giant AP Moller Maersk has completed the acquisition of e-commerce supply chain firm LF Logistics in a deal with an enterprise value of $3.6bn.Hong Kong-headquartered LF Logistics employs 10,000 people, operates an extensive Pan-Asian network across 223 warehouses and specialises in B2B and B2C distribution solutions within retail, wholesale, ...
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NewsBolloré Logistics completes acquisition of Lynair Logistics
Pictured (L-R): David Guarnera (State Manager of Victoria and South Australia, Bolloré Logistics Australia), Thibault Janssens (CEO of Bolloré Logistics, Pacific Region), Augustin Paul (Managing Director of Lynair Logistics), Cameron Galloway, Sales Director of Lynair Logistics. Photo: Bollore acquisition. Photo Bollore LogisticsBolloré Logistics has completed its 100% acquisition of Lynair ...
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NewsHellmann becomes sole shareholder of Peruvian joint venture
Source: Hellmann Worldwide LogisticsHellmann Worldwide Logistics now owns 100% of shares in the Peruvian joint venture (JV) Hellmann Worldwide Logistics S.A.C.The German logistics company previously owned 50% of shares in the JV, but through the purchase of the remaining 50% of shares, which were held by president of the board ...
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News
Volga-Dnepr Group ownership transferred to management
Volga-Dnepr Group founder Alexey Isaykin (Alexei Isaikin) has transferred ownership of the company to management.The exact structure of the group has not been clarified by the company, nor has the reasoning behind the decision.Two of the carriers associated with the group have had their aircraft stuck on the ground due ...
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NewsAerCap predicts "sustained" air cargo demand as it reports robust Q2 results
Aengus Kelly. Photo: AerCapAircraft leasing company AerCap has said it expects "sustained" air cargo demand despite a challenging economic landscape and the easing of global port congestion that is expected to enable maritime to claw back market share later in the year.Speaking during AerCap's second quarter 2022 earnings call transcript ...
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Freightos sees strong platform growth in Q2 2022
New business from airlines investing in digitalisation has helped global freight booking and payment platform Freightos achieve strong growth in the second quarter of 2022.Freightos recorded 150,000 platform transactions, resulting in growth of 163% year-over-year in the second quarter.Gross Booking Value (GBV) was $155m – up 137% year over year, ...
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NewsSEKO Logistics acquires US 3PL and fulfilment services provider
One of Pixior's US facilities. Photo: PixiorSEKO Logistics has acquired California-based 3PL and fulfilment services provider Pixior.With seven locations along the west coast, and one location in Connecticut, Pixior provides e-commerce fulfilment and retail services, with an emphasis on serving high-end fashion brands.SEKO said the acquisition of Pixior brings key ...
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Cargo expansion helps Titan Airways to narrow losses
The delivery of new cargo aircraft helped UK-based freighter operator Titan Airways to narrow its losses and record revenues for the last financial year.For the 2021/2022 financial year running to March, the company reported record revenues of £121.1m, an increase of 110.1%, gross profits improved to £4.6m from a loss ...
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NewsUPS expands in healthcare with Bomi acquisition
Source: UPSUPS plans to acquire healthcare logistics provider Bomi Group to expand its temperature-controlled facilities.The transaction will add temperature-controlled facilities in 14 countries - measuring 390,000 sq m - and nearly 3,000 employees."The acquisition will play a key role in the delivery of next-generation pharmaceutical and biologic treatments that increasingly ...