All Business articles – Page 27
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InsightsSupply chain spotlight: 2021 UK air cargo review
2021 proved to be a vital year for the air cargo industry; ongoing sea shipping disruption saw many companies utilise airfreight as a quick and reliable way to transport goods, with airfreight prices soaring to two-and-a-half-times higher than pre-pandemic levels. Alongside soaring demand, Brexit and decarbonisation continued to remain challenges ...
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NewsPhiladelphia secures funding for cargo expansion
Philadelphia International Airport. Copyright: Piotrus, CC BY-SA 3.0 , via Wikimedia CommonsUS Federal Government funding will help Philadelphia International Airport (PHL) roll out its $1.2bn cargo expansion programme.Infrastructure Investment and Jobs Act funding awards for fiscal year 2022 will see the City of Philadelphia Division of Aviation receive $30,721,947 for ...
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NewsSupply chain cash flow made easier
Image source: PixabayPayCargo Capital has secured a substantial lending alliance that will enable freight forwarders and beneficial cargo owners to apply for and receive credit right at the point of paying freight costs.The partnership between PayCargo Capital and Evolve Bank & Trust will immediately fund the “PayCargo Line of Credit”, ...
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Bolloré in talks to sell Africa logistics business
The Bolloré Group is holding talks with container shipping giant MSC over the sale of its African logistics division.The French company said that it had received an offer from MSC to acquire 100% of Bolloré Africa Logistics, comprising all of the Bolloré Group’s transport and logistics activities in Africa, on ...
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NewsAirbus secures another A350F order
Copyright: Airbus S.A.S. 2021 - computer rendering by FIXION - MMS - 2021Airbus’ bulging order book for its A350F production line has secured another customer, with Air France-KLM signing a Letter of Intent (LOI) for four A350Fs and purchase rights for an additional four aircraft.The order, which aims to increase ...
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NewsCSafe Global acquires packaging provider
Softbox Systems is a passive packaging provider for the pharma and cold chain logistics industries. Photo: Softbox SystemsTemperature-controlled container firm CSafe Global has acquired Softbox Systems, a passive packaging provider for the pharma and cold chain logistics industries.Terms of the transaction were not disclosed. The combined company will operate globally ...
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News
Hellman suffers cyber attack data breach
Hellman Worldwide Logistics has confirmed that data from its servers was “extracted” during a recent cyber attack.Following the cyber attack on December 9, Hellman took its systems offline, however, an investigation by the company has now confirmed data was accessed prior to this action.“We are currently investigating what type of ...
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NewsCyber attack victim bounces back
Photo: Hellmann Worldwide LogisticsOperations are “largely running again” for Hellmann Worldwide Logistics following a cyber attack, but a data breach cannot be ruled out.Hellmann Worldwide Logistics confirmed the cyber attack on December 9, though it was unable to confirm whether any data has been leaked. The company has not named ...
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NewsMondiale VGL grows with acquisition
From left to right: George Schirato (Mondiale VGL Director); Louise Rigoni (CAS Director); Mark Callus (CAS Director); and Chris James (Mondiale VGL COO). Copyright: Mondiale VGLAustralasian end-to-end supply chain giant Mondiale VGL has acquired a South Australian-based customs and logistics business.Mondiale VGL, the largest, privately-owned international freight forwarding and logistics ...
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NewsHellmann hit by cyber attack
Hellmann Worldwide Logistics has confirmed a data breach. Photo: Hellmann Worldwide LogisticsHellmann Worldwide Logistics has been hit by a cyber attack that has impacted operations.On December 9, the German logistics services company said external security specialists are working on restoring operations, but it is currently unable to confirm whether any ...
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NewsCool supply chain growth
Gianluca Marcangelo, senior manager cargo transformation at Challenge Group. Photo: Cool Chain AssociationChallenge Group has become a member of the Cool Chain Association (CCA) to drive improvements in the cool supply chain.The temperature-sensitive airfreight specialist will join the CCA’s new technical committee, with the aim of supporting cool supply chain ...
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Insights
Supply chains spotlight: Soaring demand in the skies
With the current disruption to deep sea shipping showing little sign of abating, many companies are looking towards air freight as an alternative, more reliable option for international logistics operations to protect the integrity of global supply chains.As reported in the UK's Daily Telegraph (November 2021), the air cargo sector ...
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NewsGlobal trade bounces back while interest in nearshoring recedes
Trade has bounced back to pre-pandemic levels while interest in the regionalisation of supply chains has receded, according to the latest Global Connectedness Index from DHL Express and NYU Stern School of Business.The overall Global Connectedness Index, which analyses globalisation across trade, capital, information and people, is on track to ...
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Transpacific airfreight rates reach new highs
Airfreight rates on the transpacific trade lane have continued to surge since the start of November as peak season demand kicks off and modal shift from ocean continues.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that last week prices on services from Hong Kong to North America ...
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NewsProfits continue to surge at DHL Global Forwarding
DHL Global Forwarding and Freight saw third-quarter earnings before interest and tax (ebit) more than double on last year while airfreight demand continued to surge.The Deutsche Post-owned forwarder saw third-quarter revenues increase by 53.3% year on year to €5.7bn and ebit was up 140% to €372m.Meanwhile, airfreight volumes in the ...
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NewsLufthansa's cargo business continues at record levels
Lufthansa's logistics division saw revenues and operating profits continue at record levels in the third quarter of the year as industry-wide air cargo capacity continues to be squeezed.The division, which includes Lufthansa Cargo as well as Jettainer, time:matters and an investment in AeroLogic, saw revenues surge 48% year on year ...
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NewsDSV: Supply chain constraints to continue into next year
DSV is expecting supply chain constraints and higher pricing to continue beyond the traditional peak season.Speaking to Air Cargo News, the Denmark-based forwarder's chief operating officer Jens Lund explained that there was no sign of the issues in ocean shipping or airfreight clearing up."The Chinese New Year [starting February 1]... ...
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NewsDSV's Q3 air volumes boosted by Agility GIL takeover
DSV saw its airfreight volumes and revenues grow by double-digit percentage levels during the third quarter of the year on the back of market growth and its Agility GIL takeover.The forwarder saw its third-quarter airfreight revenues increase by 78.7% year on year during the period to DKr18.4bn and volumes were ...
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Maersk set to swoop on Senator International?
Shipping giant AP Moller Maersk is in discussions to takeover Hamburg-based freight forwarder Senator International.Air Cargo News sister publication DVZ reports that the talks are at an advanced stage and a deal could be announced this week.Both companies declined to comment to DVZ.The deal would continue Maersk's push into supply ...
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Frankfurt-Hahn files for bankruptcy with Senator taking steps to secure operations
Flights are continuing at Germany's Frankfurt-Hahn airport despite the facility filing for bankruptcy, but forwarder Senator International has moved some of its operation away as a precaution.Air Cargo News sister title FlightGlobal reports that Jan Markus Plathner from Frankfurt-based Brinkmann & Partner has been appointed as administrator.Financing is being sought ...