All Freight Forwarder Articles – Page 30
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News
K+N reports record air volumes and revenues despite weakening market
Kuehne+Nagel has reported record airfreight volumes and revenues for 2022 despite performance weakening in the second half of the year.The world's largest airfreight forwarder reported a full-year air revenue increase of 7.6% year on year to Sfr12.4bn, earnings before interest and tax (ebit) for its air business was up 20.7% ...
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News
First signs of recovery in air cargo?
The air cargo market could be showing the first signs of a possible recovery fuelled by the restart of production at Chinese factories.Data provider TAC Index said that while air cargo rates "continued to edge slightly lower" last week there were indications of the "first shoots of recovery" for some ...
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NewsRoad feeder services getting closer to zero emissions with electric project
Copyright: Hessen Mobil 2019DSV is participating in a research project to test and establish an eHighway that could enable fully electric long-distance road freight.The ELISA eHighway project is being carried out in Frankfurt Germany to establish an electric highway that allows for on-the-go charging of electric vehicles, eliminating downtime spent ...
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News
Expeditors revenues and volumes down
In its fourth-quarter 2022 financial results for the three months ended December 31, Expeditors International posted year-on-year declines in operating income, revenues and volumes as demand normalised after the pandemic – and then fell off in response to economic uncertainty.Operating income for the logistics firm decreased by 47% to $330m ...
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News
Kuehne+Nagel partners with Birmingham-Shuttlesworth Airport
Kuehne+Nagel (K&N) and the Birmingham Airport Authority in the US have partnered to enable K&N to begin operating weekly international cargo flights into Birmingham-Shuttlesworth International Airport in Alabama from April.This is the first time K&N has established a presence at a secondary airport in North America.The logistics company expects to ...
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News
EV Cargo divestiture announced
Cargo Services Group and JL Enterprises are to divest from their investments in EV Cargo Holdings Limited, a Hong-based freight forwarder managed by the private equity company, EmergeVest.Cargo Services Group is a provider of supply chain solutions services as well as one of the major freight forwarders in China and ...
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News
EV Cargo becomes sole shareholder of Allport Netherlands
Hong Kong-headquartered freight forwarder EV Cargo has acquired the remaining 60% of the shares of Allport Netherlands from its joint venture partner.As part of the transaction, EV Cargo will also acquire the remaining shares in EV Cargo Global Forwarding Belgium to become the sole shareholder of this business as well.Formed ...
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NewsUS air cargo sector concerned over stricter screening rules
Brandon Fried, AfA. Source: AfAThe US air cargo sector highlighted some of the concerns it has regarding the implementation of stricter cargo screening rules due to be enforced later this year.From November all cargo must be screened before it is loaded onto a freighter but a panel at US Airforwader ...
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NewsBIFA continues to expand training team
Carri Marais. Source: BifaUK forwarder association Bifa has appointed Carri Marais as trainer – freight and customs procedures as it looks to continue expanding its training team.Marais joins from DB Schenker Road Freight and has more than 25 years of experience in freight forwarding and logistics, including the management of ...
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News
Forwarders locked into “sky high" rates
One air cargo stakeholder is “fearful” of the rates that freight forwarders began to pay to secure capacity during the recent period of high air cargo demand.Speaking exclusively to Air Cargo News, Etihad senior vice president global sales & cargo Martin Drew said a key issue is the length of ...
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NewsGCL accelerates its expansion with automotive acquisition
Source: Global Critical LogisticsGlobal Critical Logistics (GCL) has acquired UK-based Classic Automotive Relocation Services (CARS) as it looks to expand its geographical presence and customer base.CARS is a specialist in the shipment of historic and rare vehicles by road, air, and seafreight, operates a network of specialist storage facilities and ...
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NewsScan Global Logistics outlines benefits of new majority owners
Source: Scan Global LogisticsScan Global Logistics is hoping that its new majority owners will help the company achieve its ambitious growth plans as it strives to reach $5bn in annual revenues.Earlier today, the fast-growing freight forwarding company announced that private equity fund CVC Capital Partners Fund VIII (CVC) had purchased ...
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News
CVC takes majority stake in fast-growing Scan Global Logistics
Fast-growing freight forwarder Scan Global Logistics has a new majority shareholder in the shape of private equity fund CVC Capital Partners Fund VIII (CVC).CVC has acquired the shareholding from an investor group led by AEA Investors Small Business Private Equity (AEA) but details of the transaction were not released.AEA will ...
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InsightsAir cargo outlook: challenging market ahead
It’s been an interesting period for the air cargo industry as volumes have been trending downwards since the first half of last year, while the capacity situation continues to change and rates remain above pre-Covid levels despite recent declines.The fall in volumes reflects high inflation that is affecting consumer spending, ...
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Insights
The changing role of traditional and digital forwarders
The meteoric rise in freight levels during the pandemic created an irrational exuberance for most forwarders, but the party is ending for some, writes Airforwarders Association (AfA) executive director Brandon Fried.As freight forwarders begin to see reduced shipments drop to more realistic levels, some still see high volumes but most ...
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NewsDSV reports on a strong year
Denmark-headquartered supply chain services provider DSV has revealed strong results for 2022, which it said had been driven by “good performance across all our business areas”.Over 2022, its gross profit increased by 33%, while earnings before interest and taxes (EBIT) before accounting for special items rose by 48%.DSV’s Air & ...
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NewsDB Schenker in it for the long-haul with cargo charter network
Source: Air Cargo NewsDB Schenker will continue its air cargo charter operation for the long-term and expects other forwarders to do the same despite recent market weakness.Speaking to more than 400 delegates at a busy World Cargo Summit, DB Schenker global head of airfreight Asok Kumar outlined Covid-related developments that ...
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NewsBIFA Award winners net a trophy
Source: BIFAThe annual BIFA Freight Service Awards took place in London yesterday, with the winners revealed by footballing legend Kevin Keegan.The awards took place at The Brewery in London and attracted a record-breaking audience of 550 people who raised more than £3,500 for international development charity Transaid.The Air Cargo Services ...
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NewsAir Canada and OEC Canada undergo screen test
Air Canada Cargo said it recently shipped an IMAX screen housed in a crate that is one of the largest items it has ever fit into a Boeing B767 freighter.The cargo carrier worked with freight forwarder OEC Canada to fit the 44 ft long, 800 kg crate in the B767, ...
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NewsSave the date: Air Cargo News Awards 2023
This year's Air Cargo News Awards will take place on Thursday, October 12 at the London Syon Park Hilton close to Heathrow Airport.The awards are in their 39th year and honour those companies who have invested in providing great customer service, operational excellence and innovative technologies.This event celebrates excellence in ...