Business – Page 104
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News
Vladimir Zubkov of TIACA
Co-operation is a word that is bandied around a lot in the cargo transport arena, perhaps because there are so many different parties involved in the industry, each with varying priorities.It is therefore unsurprising that the new secretary general of TIACA − an organisation that was created to bring together ...
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IATA calls for cargo transformation
At the 73rd IATA General Meeting and World Air Transport Summit in Cancun, Mexico, a resolution has been adopted to “accelerate the modernisation and transformation of the air cargo industry” through a customer-centric approach.Measures covered by the resolution include digitisation of the supply chain for instant information sharing to improve ...
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WCS17: Air cargo digital disruption takes centre stage
The digitisation of air cargo is a hot topic at the moment and day two of IATA’s World Cargo Symposium began with a call for software providers to push carriers and forwarders to speed up their adoption of digital technology.To start the digitisation session, Mercator chief executive Cormac Whelan said ...
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Freightos raises $25m for further growth
Hong Kong registered online booking portal Freightos has raised $25m in funding from a group of investors led by GE Ventures.The logistics technology company has announced the completion of a $25m Series B extension round which, it said, would bring the company’s total funding to $50m.The funds will be used ...
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European court annuls 2013 decision to block UPS-TNT deal
Europe's General Court has annulled the January 2013 decision by the European Commission to refused authorisation of the merger between UPS and TNT, on the grounds of a “procedural irregularity” by the European regulator.TNT was later acquired by Federal Express, the arch rival to UPS in the global express small ...
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SEGRO swoops for Heathrow's "jewels in the crown" airside cargo property
Industrial warehouse developer SEGRO has paid £365m to acquire 100% control of Airport Property Partnership (APP), whose "jewels in the crown" assets include the majority of Heathrow Airport’s airside cargo facilities.SEGRO has bought the 50% interest in the APP joint venture that it did not already own from partner Aviva ...
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K+N to add to pharma offering with company acquisitions
Global logistics services provider Kuehne + Nagel (K+N) has said that it continues to prioritise its pharma and healthcare offerings “across all business units and all regions worldwide”.To that end, it has confirmed that it is to acquire two specialised pharma logistics companies.In Turkey, K+N has entered into an agreement ...
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Avolon snaps up CIT Group’s aviation leasing business
Avolon Holdings, the Ireland-based international aircraft leasing company, has announced the completion of its acquisition of the aircraft leasing business of CIT Group Inc.The deal doubles Avolon’s size and creates the world’s third largest aircraft leasing platform.Avolon now serves 149 customers in 62 countries.The combined business had an owned fleet ...
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Dachser acquires majority interest in Irish partner, Johnston Logistics
Dachser has become the majority shareholder in its Irish partner, Johnston Logistics, allowing German supply chain operator Dachser to expand and strengthen its logistics network in northwest Europe.Michael Schilling, chief operating officer of road logistics at family-owned Dachser, said: “Our customers in Ireland benefit from uniform services and quality standards, ...
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DSV airfreight outpaces market on UTi acquisition
DSV recorded improvements in profits, revenues and airfreight demand during the first quarter of the year as it continued to benefit from its acquisition of UTi and market growth.The Copenhagen-headquartered freight forwarder saw first-quarter airfreight demand improve by 20% year on year to 147,439 tonnes. The forwarder estimates that the ...
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Panalpina snaps up Danish and Kenyan forwarders
Panalpina has announced two acquisitions: a Danish logistics operator with a seafreight focus and a Kenya-based perishables specialist in the export of flowers and vegetables.The Switzerland-headquartered logistics giant will acquire the family-owned Kenyan forwarder Air Connection, subject to conditions.The deal comes two years after Panalpina increased its presence in Kenyan ...
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UPS to acquire Ireland-based Nightline Logistics
UPS has entered into a definitive purchase agreement to acquire Nightline Logistics Group, an express delivery and logistics companies in Ireland.Nightline is a privately held company. Terms of the acquisition were not disclosed and the deal is subject to customary closing conditions, including regulatory approval.“Operating for more than 40 years ...
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Handler touches down in the US
Middle East-owned handler dnata has broken into the US market with its purchase from Lynx Holdings to acquire its AirLogistix USA cargo operations at Houston George Bush Intercontinental Airport.The 30,000 sq ft facility includes the airport’s only dedicated perishable cargo handling centre for products such as pharmaceuticals, fruits, vegetables, fish ...
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Focus: Illegal wildlife trafficking - Killing by numbers
When poachers hunt, they kill in large numbers: entire elephant herds for the ivory and whole families of chimpanzees to get the babies. In the traffickers’ murderous business model, mass killing is more efficient and increases their profits.The trade in illegal wildlife is estimated to be worth at least $19bn ...
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time:matters maintains the pace
time:matters, the Neu-Isenburg, Germany-headquartered specialist in time-critical logistics, has revealed that it enjoyed a 9% year on year increase in revenue in 2016.It made revenue of just under €70m.In so doing, the company said that it had “maintained its positive overall performance of recent years and exceeded its sales growth ...
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NewsIAG Cargo traffic up on shipping disruption but revenues slide
IAG Cargo saw revenues decline in the first quarter of the year due to challenging market conditions but it registered an improvement in traffic partly driven by container shipping disruption.The cargo arm of IAG, which owns British Airways, Iberia and Aer Lingus, recorded a 2.3% year-on-year decrease in first-quarter cargo ...
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Atlas looks forward to a strong peak after a "flying start" to 2017
Atlas Air Worldwide Holdings got “off to an exciting start in 2017” as it announced 2017 improved income from continuing operations, but it registered a net loss.During the first quarter income from continuing operations, net of taxes, total $8.3m compared with $7.7m in the year-ago quarter, operating revenues increased by ...
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NewsApril freight growth tails off but IATA remains upbeat
Global air freight tonne kilometres (FTKs) rose 8.5% in April 2017 compared to last year, said IATA in its latest figures.While this was down from March’s 13.4% year-on-year growth, it is well above the average annual growth rate of 3.5% over the past five years.Meanwhile, growth in freight capacity, measured ...
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Jan de Rijk Logistics reports improved results in 2016
European trucker Jan de Rijk Logistics recorded a near 10% rise in its 2016 operating result and remains “modestly optimistic” for 2017 despite challenges from labour costs, capacity shortages and regulatory changes.The road feeder services and logistics specialist booked a total combined turnover of €208m in 2016, and an operating ...
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Qatar Airways calls on ICAO to lift "illegal" airspace ban
Qatar Airways Group chief executive Akbar Al Baker has called on the International Civil Aviation Organization (ICAO) to lift what it describes as the illegal airspace ban it faces in Saudi Arabia, the United Arab Emirates, Bahrain and Egypt.In a statement issued earlier today, the airline said 90% of its ...