Business – Page 73
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NewsAirfreight rates reduction reflects peak season close
Airfreight rates slid in December following a rise in November, reflecting a decline in demand as peak season came to a close.The latest East-West airfreight price index from consultant Drewry’s Sea and Air Shipper Insight report showed that prices reached $2.74 per kg in December last year, down from $3.02 ...
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UPS Q4 revenues boosted by Amazon gains
UPS saw fourth-quarter revenues soar on the back of Amazon volume growth, but pensions charges pushed the company to a loss.The express giant reported a 3.6% year-on-year increase in revenues for its fiscal fourth quarter to $20.6bn, operating profit was up by 6.4% to $2.1bn but it reported a $106m ...
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Global Transport Solutions launches 2020 buy and build strategy with Airsped
Global Transport Solutions Holding (GTS) has completed the first of four planned acquisitions in 2020 after buying Airsped Logistics, a 3PL logistics service provider in Norway.Netherlands-based GTS is the holding company of Singapore-headquartered Marinetrans Group and Best Global Logistics Group of Netherlands.GTS confirmed that it is working on three other ...
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NewsANA's international cargo revenues fall 20.9% in nine months
US-China trade tensions contributed to a 20.9% dive in All Nippon Airways' (ANA) international cargo revenues to ¥20.6bn ($190m) during the nine months ended December 2019, as domestic cargo revenue fell 7.7% (year on year) to ¥1.6bn in the same period.The Japanese carrier said: “The Japanese economy saw increasing weakness ...
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NewsAvia Solutions to buy freighter operator Bluebird Nordic
Avia Solutions Group, which owns UK broker Chapman Freeborn and freighter operator Magma Aviation, is to acquire 100% of cargo carrier Bluebird Nordic and so step into the narrow-body ACMI cargo business.According to the Cirium database, Iceland-headquartered Bluebird Nordic, founded in 1999, operates one B737-300SF and four B737-400SFs.Gediminas Ziemelis, founder ...
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NewsATC Aviation expands east European GSSA network with Brainway buy
L-R: Ingo Zimmer and Günter PeplATC Aviation Services Group has acquired Austrian cargo general sales and services agent (GSSA) Brainway and its subsidiaries in Croatia, Czech Republic, Hungary, Poland, Romania, Slovenia and Slovakia.Brainway and its subsidiaries will join ATC, the Germany-based GSSA, from the beginning of February.Among the airlines represented ...
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Former air cargo executive pleads guilty in US cargo cartel case
Maria Christina Ullings, the former senior vice president of cargo sales and marketing for Martinair Cargo, has been jailed in the US after pleading guilty for her alleged role in the cargo price-fixing cartel that ran from around 2001 to 2006.According to the US Department of Justice (DoJ), Ullings was ...
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Leipzig/Halle bucks the trend with fifteenth year of cargo growth
Leipzig/Halle Airport has increased its cargo volumes for the fifteenth consecutive year and more than tenfold since 2007.In 2019, Europe’s fifth-largest and Germany's second-largest air cargo hub handled 1.2m tonnes, representing a year-on-year growth of 1.4%.Overall, airports in Europe are expected to record a decline in cargo volumes last year.In ...
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Cargolux and Atlas Air predict a subdued airfreight market in 2020
The cargo freight market is likely to remain weak this year, industry leaders believe, as it remains hampered by overcapacity and weak growth in several regions around the world.“We see 2020 not improving significantly… There will be some capacity coming out of the market, so there is some balance coming, ...
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NewsPeli BioThermal extends reach in Australia
Temperature-controlled packaging business Peli BioThermal has announced that Wilpak Group International will provide sales and support from its headquarters in Melbourne, Australia.Effective immediately, this change in operations is part of Peli BioThermal's expansion into Australia and New Zealand, as well as the expansion of the global partnership between Peli BioThermal ...
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Logistics industry continues to view US-China trade war as biggest threat
The logistics industry continues to see the trade war between the US and China as the biggest threat to global economic growth, despite the two countries recently signing phase one of a trade agreement.A survey of 330 logistics and supply chain professionals, carried out by logistics firm Agility and consultancy ...
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SEKO and AGWorld enter partnership to facilitate links amid trade war
SEKO Logistics and Air & Ground World Transport (AGWorld) have entered a partnership that will generate opportunities for shippers doing business between Asia and the US.The collaboration will help shippers to ease the impact of the US-China trade war on their global operations.As part of SEKO and AGWorld's partnership, they ...
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NewsTigers Logistics opens smart Sydney hub to support e-commerce growth
Tigers Logistics has opened a new hub in Yennora in Sydney, Australia, to support domestic and international e-commerce growth.The new facility is part of Tigers’ two-year strategy involving investments into e-commerce and B2B verticals, and global expansion.The warehouse is fitted with Tigers’ automated transport sortation system and SmartHub:Connect technologies, which ...
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Oman Air announces growth plans as country seeks to drive revenues from airfreight sector
Oman Air has announced plans to increase its cargo-handling capacity at Muscat International Airport when the construction of its new airfreight unit is complete.The carrier reportedly disclosed information about its plans to the Oman News Agency (ONA).The Times of Oman revealed that during a discussion with the ONA, Mohammed bin ...
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Kuehne+Nagel headquarters Asia Pacific region in Singapore
Logistics provider Kuehne+Nagel has announced that it is focusing its attention on growth in the Asia Pacific region, following the success of growth and acquisitions in Europe and North America.With immediate effect, Kuehne+Nagel's Asia Pacific operations, run by 10,000 of its personnel in the region, will be headquartered in Singapore. ...
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XPO Logistics considers selling business units
XPO Logistics is considering the sale or spin off of one or more of its business units as it believes its shares are trading below expectation.The logistics company said yesterday that its board has authorised a strategic review of the business."We continue to trade at well below the sum of ...
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China-US phase one deal welcomed as a first step towards an agreement
China and the US last night signed the first phase of a trade deal that has been welcomed by US companies and business groups, but they urged the two countries to begin the second round of negotiations and remove all tariffs.China has pledged to increase US imports over 2017 levels ...
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CEVA Logistics re-organises senior management team
CEVA Logistics has re-organised its senior management team nine months after its takeover by shipping line CMA CGM.The company said that chief executive Nicolas Sartini, who took the role in June last year, will be replaced by Mathieu Friedberg who was previously senior vice president commercial and agencies network at ...
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NewsNagel-Group sells its airfreight business
Source: Nagel-GroupFood logistics firm Nagel-Group has sold its airfreight business to KOTRA-Logistics as it looks to concentrate on its core competencies.Nagel Airfreight was founded in 1987 and has about 40 employees at three German locations: Frankfurt, Berlin, and Bremerhaven.The airfreight business specialises in the distribution of fresh fish, an area ...
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A tough end to the year for cargo at Europe's major airlines
The end of year traffic figures from European airlines sum up what a tough year 2019 was for the air cargo business.Figures just released by Lufthansa show that cargo carried by its various airline businesses in 2019 was down by 2.1% year on year to 10.7bn revenue cargo tonne kms ...