All Business Articles – Page 58
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News
TIACA looks forward to ACF in Toronto
The latest (August) issue of TIACAtalks, a newsletter produced by The International Air Cargo Association, has offered a look forward to the trade body’s forthcoming big biennial exhibition, Air Cargo Forum (ACF).This year’s ACF, to be held in Toronto in October, promises to be “one of the most dynamic and ...
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CH Robinson expects peak season capacity constraints
Freight forwarder CH Robinson has declared the current air and ocean freight markets represent something of a ‘perfect storm’ and once again expects capacity constraints during the peak season.The peak shipping season has heated up early, the forwarder noted. Rates are up on the spot market, and air and ocean ...
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Rhenus opens new New Zealand subsidiary as it continues expansion
Freight forwarder Rhenus Logistics has continued its network expansion with the launch of a subsidiary based in Auckland, New Zealand.Rhenus Logistics NZ officially opened on August 20 and will provide a comprehensive international and domestic 4PL and 5PL solution for businesses in the region.The operation will also provide a customs ...
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SIA and Cainiao linking up for cargo services
Singapore Airlines (SIA) and Cainiao Network, the logistics arm of Chinese e-tailing giant Alibaba Group, will work closely to "enhance international air cargo services".The link-up, part of a wider passenger-led "comprehensive strategic collaboration" will see SIA joining Cainiao Network’s broader efforts in building "a global smart logistics network that delivers ...
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Bloomberg: Cerberus considers Swissport deal following WFS takeover
Reports from news wire Bloomberg suggest that investment fund Cerberus is considering a move for ground handler Swissport following on from its takeover of WFS in June.The report, which can be found here, said that the current owner, Chinese conglomerate HNA, is considering selling a majority stake in the handler, ...
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Southern Air pilots agree to interim agreement but demand further improvements
Southern Air pilots have ratified an agreement for interim enhancements to the collective bargaining agreement covering pilots, but union representatives are demanding further improvements.The interim agreement increases pay rates for Southern Air pilots to the same wage scales as provided to pilots of sister airline Atlas Air.It also provides for ...
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NewsIAG cargo revenues climb in Q2 despite traffic decline
IAG Cargo saw revenues climb during the second quarter despite a decline in traffic during the period.The airline group saw total second-quarter cargo revenues increase by 3.7% year on year to reach €281m, while traffic declined by 0.3% to 1.4bn cargo tonne kms (CTK).Cargo volumes were flat at 173,000 tonnes ...
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DSV air cargo volumes up 12% in Q2
Denmark-based logistics operator DSV recorded an 11% increase in airfreight volumes to 336,300 tonnes during the first half of 2018, driven mainly by a "strong performance" in EMEA and Americas exports.The rise in DSV's half year air cargo throughput outpaced an overall market benchmark of 5% growth in the same ...
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NewsLufthansa Cargo sees revenues and profits rise in Q2
Higher pricing in the airfreight market helped propel profits at Lufthansa’s cargo business during the second quarter of the year.The German airline’s logistics division, which includes Lufthansa Cargo as well as Jettainer, time:matters and its equity investment in AeroLogic, saw total second-quarter revenues increase by 12.1% year on year to ...
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CEVA continues to improve despite drop in airfreight volumes
CEVA Logistics saw its airfreight volumes decline during the second quarter as a result of the end of old customer contracts and ahead of the start of new ones.The latest financial results from CEVA show that total air cargo volumes declined by 1.3% year on year to 120,200 tonnes despite ...
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Singapore Airlines sees cargo revenues rise in Q1 despite traffic decline
Singapore Airlines saw its cargo revenues jump during its financial first quarter, despite a drop in demand.Between April and June, the Asian airline saw cargo revenues increase by S$30m, or 6%, on the back of a yield increase of 9%, a reflection of the overall market trend.The improvement in yields ...
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Panalpina swoops on another perishables forwarder while profits rise in Q2
Panalpina has again expanded its perishables network with the acquisition of a majority stake in South African firm Skyservices, while it has also announced its results for the second quarter.The Switzerland-headquartered forwarder said the acquisition of Skyservices gives it a presence in Johannesburg and Cape Town. Details of the deal ...
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CMA CGM obtains regulatory green light for 24.9% stake in CEVA
CMA-CGM, the world's third largest container shipping group, has obtained all regulatory approvals to complete its 24.99% shareholder investment in supply chain specialist CEVA Logistics.CMA CGM made a strategic investment in convertible securities issued by CEVA in a concurrent private placement at the time of CEVA's initial public offering (IPO) ...
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NewsAirbus expects freighter fleet to increase by 65% over the next 20 years
Airbus expects the world’s freighter fleet to grow by more than 50% over the next 20 years, fuelled by demand in North America and Asia Pacific (see charts below).The aircraft manufacturer today released its biennial market forecast, with its figures showing that the number of freighter aircraft will grow from ...
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Trade expected to accelerate in Q3 despite tariff concerns
Global trade growth is expected to accelerate during the third quarter of the year, despite increasing tension over tariffs.The latest DHL Global Trade Barometer index for the coming three months increased to 67 points in June, compared with 66 points in March.Any index value over 50 points indicates that respondents ...
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NewsAir cargo braces for the impact of trade tariffs
The introduction of trade tariffs is set to hit the air cargo industry, despite the possibility of an initial boost.Reports have suggested that the various trade tariffs that have been introduced over the last few months could result in a rush to transport goods before they come into force, with ...
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Russian cargo airlines file flight information to comply with US ruling
Russian cargo carriers have filed information on their flights to and from the US with the Department of Transportation (DoT), in compliance with a new ruling by Washington.In late May, the DoT told three Russian airlines to file detailed information about any services operating in the country, in apparent response ...
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ECS Group sold as it looks to fund future acquisitions
Cargo sales agent ECS has been acquired by investment firm Naxicap Partners to help continue the GSSA's acquisition strategy.Naxicap said that in a market ripe for consolidation, offering a strong pool of build-up opportunities, the company intends to pursue an active strategy of acquisitions, "generating significant commercial synergies", while continuing ...
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IATA: April sees fuel prices pick up and load factors decline
The latest Airlines Financial Monitor from IATA indicates that cargo load factors have dropped back to levels last seen at the start of 2017.Across the air cargo industry, the freight load factor fell 0.5% in April compared to the same month of 2017.Capacity (available freight tonne-km, AFTK) increased 5.1% year ...
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Finlogistics acquisition doubles Leman’s Finland footprint
Danish-based logistics company Leman has acquired Finland-based FL Services Finlogistics, doubling its presence in the country.Based in Kerava, 35km north of Helsinki as well as in Kotka, Finlogistics offers airfreight, sea freight and logistics solutions. It has ten employees and a turnover of €9m.Leman Group chief executive Thomas Krøyer said ...