Business – Page 13
-
News
Reports: DSV outlines job and investment plans if it lands DB Schenker
DSV has reportedly outlined how it would protect jobs and invest in DB Schenker following a leading German union expressing concern over job losses if the Danish forwarder is successful in its takeover bid.Last week German trade union Ver.di is said to have written to the Deutsche Bahn board suggesting ...
-
News
Canada joins the US in implementing stricter requirements for European air cargo shipments
Canada has joined the US in the sudden implementation of stricter security requirements for Europe- and CIS-based air cargo shippers importing goods into the country. Following the announcement of the new requirements, Air Canada Cargo warned shippers that they face an embargo unless they can meet the new requirements. The ...
-
NewsScan Global seals deal for Blu Logistics Brasil
Scan-Global-Logisitcs.jpg Photo Scan Global Logistics Scan Global Logistics (SGL) has completed the acquisition of freight forwarder Blu Logistics Brasil Transportes Internacionais LTDA to extend its business in Latin America. The Danish forwarder announced in July that it had signed an agreement to buy the forwarder, which last ...
-
NewsDP World acquires Cargo Services Far East
Photo: DP WorldDP World has completed the acquisition of Hong Kong-headquartered Cargo Services Far East Ltd to expand into retail and fashion logistics and grow its airfreight business.Logistics service provider, Cargo Services employs over 2,500 people in Greater China and across Asia, Europe, South Africa and the US.Founded in 1989, ...
-
News
Leading German union backs CVC bid for DB Schenker
Leading German trade union Ver.di has reportedly given its backing to the CVC-led private equity consortium bidding to take over DB Schenker over fears of job losses should DSV be successful.According to Bloomberg, research from the union has indicated that more jobs would be lost at the forwarder because the ...
-
InsightsWhy the EU-China tariff tensions are more than just a trade dispute
Mike Parra. Photo: DHLTariff tension between the European Union and China has flared up again, but global trade needs to be protected during any negotiations to safeguard economic growth amongst other reasons.Europe and China find themselves once again in the midst of a tariff dispute. This is not the first ...
-
News
Reports: DSV and CVC bid €14bn for DB Schenker
DSV and a private equity consortium led by CVC have reportedly individually put in binding bids of around €14bn for DB Schenker.This is according to people familiar with the matter, Bloomberg has reported as the race to buy Deutsche Bahn’s freight forwarding subsidiary has narrowed to just the two bidders ...
-
News
Alaska promises Hawaiian a warm welcome as merger clears hurdle
Alaska Airlines’ acquisition of Hawaiian Airlines has cleared a major hurdle after the Seattle-based carrier said on August 20 that the time period for the US Department of Justice to review the $1.9bn deal had expired, and no objections appeared to have been made.A US judge had earlier this month ...
-
News
Freightos acquires Shipsta
Online booking and rate firm Freightos has acquired multimodal tender procurement platform Shipsta to expand its spot pricing, quoting, and booking capabilities.Headquartered in Luxembourg, Shipsta supports companies' freight procurement by streamlining tender management and procurement processes across air, ocean, road, and rail, enabling companies to solicit tenders from freight forwarders ...
-
NewsTurkish Cargo receives IATA Smart Facility certificate
Photo: Turkish CargoTurkish Cargo has received IATA's Smart Facility Operational Capacity Certification for its SMARTIST facility at Istanbul Airport.This certification confirms that Turkish Cargo’s operational procedures comply with IATA regulations (IATA Cargo Handling Manual, Dangerous Goods Regulations, ULD Regulations, Temperature Control Regulations, Live Animals Regulations and Perishable Cargo Regulations).The certification ...
-
NewsCargojet invests in more 767s as Q2 revenue climbs 10%
Cargojet has affirmed its focus on growing 767 freighter operations with the acquisition of two more passenger aircraft for future conversion.The Canadian cargo airline confirmed it had two 767s currently undergoing conversion, but said it had also invested in two more of the type."Cargojet currently has two B767 passenger-to-freighter conversions ...
-
News
Hyundai Glovis confirms Asiana cargo stake
Hyundai Glovis has confirmed it will invest in a consortium led by Air Incheon as part of plans to acquire Asiana Airlines’ cargo business.Earlier this month, Republic of Korea (ROK)-based logistics company Hyundai Glovis said it was considering investing in an acquisition consortium set up by Air Incheon after the ...
-
NewsEtihad cargo revenue up 10% in first half
Photo: EtihadEtihad Airways' cargo revenue increased by approximately 10% in the first half of this year compared to the same period of 2023.The Abu Dhabi-headquartered airline's cargo revenue was AED1.9bn ($507m) compared to AED1.7bn ($462) year on year.The increase in revenue was "primarily driven by increased demand and increased belly ...
-
NewsBangladesh air cargo spot rates peak
Air cargo spot rates from Bangladesh to Europe have risen to their highest level this year amidst political unrest in the country that has resulted in disruption to air cargo operations.Data from WorldACD shows that in the week from Monday July 29 to Sunday August 4 (week 31), spot rates ...
-
NewsATSG sees Q2 revenues and profits decline as 767Fs are returned
Freighter lessor and operator ATSG saw both profits and revenues decline in the second quarter of the year as a result of returned freighter aircraft.The company saw second-quarter revenues fall 7.7% year on year to $488.4m, earnings from continuing operations before income taxes were down 78.4% to $10.7m and net ...
-
News
Expeditors: Buy rates put pressure on profits in erratic Q2
Expeditors saw its profits decline in the second quarter of the year despite increases in airfreight revenues and volumes.The Seattle-headquartered forwarder saw second-quarter airfreight volumes increase by 15% and air revenues improve by 14.5% to $860.3m. However, airfreight expenses rose by 22.9% compared with last year.There was a similar trend ...
-
News
Korean signs Asiana cargo sale agreement with Air Incheon
Korean Air has today signed a "basic business sale agreement" with Air Incheon for Asiana Airlines' cargo business.The agreement follows June's announcement that Air Incheon had been named as the preferred bidder for the sale of Asiana's cargo business as part of Korean Air’s acquisition of Asiana Airlines."The transaction amount ...
-
News
Cathay Pacific reports increases in cargo revenues and traffic in H1
Cathay Cargo saw its revenues and cargo traffic increase in the first half of the year as it benefitted from rising demand for e-commerce shipments and extra belly capacity.The cargo business saw first-half revenue increase 1.5% year on year to HK$10.9bn, while cargo traffic was up 4.6% to 4.1bn cargo ...
-
News
Air Incheon gains support for Asiana cargo bid
Air Incheon's plan to acquire Asiana Airlines’ cargo business is gaining momentum with reports that Hyundai Glovis may invest in a consortium led by the airline.Republic of Korea (ROK)-based logistics company Hyundai Glovis said it is considering an investment after Air Incheon was named as the preferred bidder for Asiana ...
-
News
IAG Cargo revenues improve in Q2
IAG Cargo has registered a year-on-year improvement in cargo revenues for the first time since the first quarter of 2022.The cargo business of the IAG Group saw its second-quarter cargo revenues increase by 1.1% compared with last year to €283m.Since 2022 the air cargo market has been affected by the ...