All Business Articles – Page 31
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NewsCLIVE: The only way is up for air cargo load factors
Air cargo load factors began their peak season rise in September and are expected to continue to increase for the rest of the peak.The latest figures from CLIVE Data Services show that the global dynamic load factor, which draws from both weight and space, reached 68% in the last week ...
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Chinese supply chains face disruption as energy shortage bites
Chinese supply chains are being affected by factory shut downs as a power shortage has caused several companies to temporarily stop production.Many regions in the country have been affected by blackouts as the supply of energy is rationed. This has affected both homes and businesses.Risk analyst Everstream Analytics warned that ...
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Qatar Cargo sees volumes increase despite pandemic
Qatar Airways Cargo reported a 4.6% in cargo volumes in the fiscal year ending March 31 despite the loss of much of its bellyhold network due to the pandemic.The cargo division of Qatar Airways handled a total of 2,727,986 tonnes of cargo in the 2020/21 fiscal year to maintain its ...
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NewsWFS expands North American presence with Pinnacle Logistics deal
Source: WFSGround handler Worldwide Flight Services (WFS) has acquired Pinnacle Logistics as it looks to expand its presence in North America.Fort Worth-based Pinnacle is focussed on specialist express cargo handling for e-commerce customers and has a handling presence at Dallas Fort Worth, Houston, Austin, San Antonio, Allentown (PA), Minneapolis and ...
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Atlas Air pilots hit out at new five-year contract
Atlas Air pilots have criticised the new five-year collective bargaining agreement (CBA) announced earlier this week saying it makes the airline a place to train, not for a career.The new contract will merge the pilots of Atlas Air and Southern Air, which was by Atlas acquired in 2016, onto a ...
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Hong Kong-US air cargo rates index reaches new high for the year
Air cargo prices on services from Hong Kong to North America surged to a new high for the year last week as the peak season kicks in and Golden Week approaches.According to the Baltic Exchange Air Freight Index (BAI), average rates on the route reached $9.70 per kg last week, ...
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DSV drops Panalpina from company name
DSV has decided to drop Panalpina from its company name two years after its acquisition of the Switzerland-based forwarder.The forwarder said the decision to drop the DSV Panalpina name in favour of DSV was approved by shareholders at an extraordinary general meeting earlier today."Since 2019, DSV Panalpina A/S has been ...
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Scan Global to acquire Orbis as it continues rapid expansion
Scan Global Logistics (SGL) has entered into a binding agreement to acquire New Zealand forwarder Orbis Global Logistics as it targets a top 15 spot in the air cargo market.SGL said the deal, which is set to be completed on October 5, will "significantly strengthen its position in the Pacific ...
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Air cargo rates up in August as peak season looms
Air cargo rates on major east-west trade lanes began to pick up in August as the industry faced supply chain disruption due to lockdowns in China and the peak season looms (see dashboard below).The latest figures from the Baltic Exchange Air Freight Index (BAI) show that in August average prices ...
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NewsAstral Aviation interlines with Airlink Cargo South Africa
Image source: Astral AviationKenya-headquartered freighter operator Astral Aviation and Airlink Cargo South Africa have signed a broad interline agreement to connect their networks.The companies said the commercial partnership could help to boost airfreight and logistics in Africa, as well as providing better access to the Sub-Saharan market through the their ...
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ACS reports record sales as cargo charters soar
Air Charter Service (ACS) reported record sales last year as demand soared at the broker's cargo division as a result of Covid-19.The company, which has just reported its latest annual financial results, saw sales reach $1.2bn for the financial year ending January 31 with all three division - private jets, ...
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NewsBaxter Freight aims for expansion after strong first half
Source: Baxter FreightBaxter Freight will continue its recent recruitment drive after reporting an increase in revenues at the half-year point.The Nottingham UK-based logistics firm saw revenues reach £12.9m in the first half, up from £7.7m a year ago. For the full year, the company expects revenues to reach £28m against ...
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Urban Outfitters turns to airfreight as Vietnam lockdown impacts supply chains
Fashion retailer Urban Outfitters has turned to airfreight to offset ocean supply chain disruptions and keep its products on shelves in Europe and the US.Currently, the company is experiencing difficulties getting its products from Vietnam, the manufacturing origin, to inventories in Europe and the US.Vietnam is in a strict lockdown ...
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China Southern Cargo gains AOC
China Southern Cargo has received its AOC as the parent group spins off its freighter operating business.The new C hina Southern Cargo business received its AOC from the Civil Aviation Administration of Central South China earlier this month, the carrier said via its official Weibo account.The new division will be ...
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No plans to sell DB Schenker as DSV rumours resurface
DB Schenker has said there are no current plans to sell the company as rumours of DSV Panalpina's interest in the Deutsche Bahn-owned forwarder resurfaced.Earlier this week, DSV Panalpina chief financial officer Jens Lund told Danish publication Shipping Watch that the company would be interested in holding talks with state-owned ...
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DP DHL to acquire ocean freight forwarder JF Hillebrand
Deutsche Post DHL Group (DP DHL) has revealed plans to acquire ocean freight forwarding expert JF Hillebrand Group and its subsidiaries at an equity value of around €1.5bn.The move follows the company recently admitting that it is taking an "opportunistic approach" to freight forwarding acquisitions, despite the spate of takeovers ...
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SpiceJet to transfer cargo and logistics business to SpiceXpress
India-based carrier SpiceJet has announced plans to transfer its cargo and logistics business to its subsidiary company SpiceXpress.SpiceXpress will operate as a separate entity upon transfer of business on October 1, 2021.The transfer, which will occur on a slump sale basis, includes "all related assets and liabilities, including, know-how, trademark, ...
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DSV Panalpina targets growth after completing Agility GIL deal
DSV Panalpina has completed the takeover of the logistics arm of Agility - Global Integrated Logistics (GIL) — in a deal with an enterprise value of around $4.8bn.The all-share deal will see Agility gain 8% of the total shares in the combined entity making it DSV Panalpina's second largest shareholder.The ...
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Thai AirAsia parent widens second-quarter operating loss
Thai AirAsia parent company Asia Aviation widened its second-quarter operating loss — with revenue decline outpacing cost reduction efforts — as the low-cost carrier eyes alternative revenue streams in e-commerce and cargo.For the quarter ended June 30, Asia Aviation posted a Bt2.8bn ($84m) operating loss, widening from the Bt1.8bn loss ...
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DHL to stick with an opportunistic approach to acquisitions
Deutsche Post (DP) DHL will maintain an opportunistic approach to freight forwarding acquisitions despite the spate of takeovers recently announced by some of the company's peers.Speaking after the delivery and logistics giant last week revealed its half year results, DP DHL chief executive Frank Appel was asked whether the company ...