All Business articles – Page 57
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News
DP DHL's Appel: Walls are not the solution
Deutsche Post DHL chief executive Frank Appel is confident that trade will continue to grow despite recent protectionist rhetoric.Speaking at the company’s annual general meeting, Appel was optimistic about the economic environment, saying that global trade would continue to grow despite uncertainties.“The future is global. Anything else is a misconception,” ...
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K+N reports rapid airfreight growth boosted by acquisitions
Kuhne+Nagel (K+N) continued to report strong growth in its airfreight volumes during the first quarter of the year thanks in part to recent acquisitions.The world’s number two airfreight forwarder saw first-quarter volumes increase by 21% year on year to 422,000 tons as a result of market growth and the integration ...
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Panalpina sees airfreight growth slow but profits takeoff
Freight forwarder Panalpina saw airfreight volume growth slow in the first quarter of the year, but profitability at the company was up.The Switzerland freight forwarder saw first-quarter airfreight volumes increase by 3% year on year to 241,000 tonnes, behind an estimated market growth of around 5%.The growth rate also lagged ...
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CEVA listing to take place on May 4
CEVA Logistics has announced its listing on the Swiss stock exchange will begin on May 4 and the company looks to raise around Sfr1.2bn.The all-primary share listing, which was announced earlier this month, will have a wide price spread of between Sfr27.50 and Sfr52.50.Initially, the forwarder had been hoping to ...
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Reports suggest Temasek considering investments in HNA's Swissport and airlines
Reports continue to circulate that Singapore state investor Temasek is looking to invest in several of debt-laden HNA's aviation assets.The South China Morning Post and Reuters have both reported unnamed sources as saying that Temasek Holdings is interested in buying a stake in Hong Kong Airlines and Hong Kong Express ...
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NewsUnited buoyed by improving cargo revenues
United Airlines Cargo saw cargo revenues improve by double-digit percentage levels during the first quarter of the year on the back of volume growth and higher rates.The Chicago-headquartered airline saw first-quarter cargo revenues increase by 23.1% year on year $293m – its sixth quarterly improvement in revenues in a row.Much ...
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Air Partner finance chief steps down after accounting error
Air Partner’s chief financial officer has handed in his resignation following on from an accounting error totalling millions of pounds.The UK charter broker today confirmed that Neil Morris had offered his resignation, which had been accepted by the board.Morris’ resignation comes after the company revealed an accounting error related to ...
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Kerry Logistics on the up in 2017
Kerry Logistics saw profits and revenues improve last year on the back of demand growth in Asia.The Hong Kong-headquartered freight forwarder registered a 28% year-on-year increase in revenues in 2017 to HK$30.8bn, while its net profit was up 7% to HK$1.2bn.Its freight forwarding business saw profits for 2017 increase by ...
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Air cargo becomes a sellers' market
The boot is on the other foot now. For years, airlines were craving fixed contracts, while forwarders, egged on by their clients, kept shopping around for the bargain of the day.Today it is the forwarders who are desperate to secure lift, as the ad hoc market augurs painfully high prices.“The ...
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A safety screen for lithium batteries
LITHIUM batteries are Dr Jekyll and Mr Hyde when it comes to air cargo, writes Roger Hailey, Air Cargo News editor. These high energy units literally power the mobile revolution, residing as they do in most tablets and mobile phones. Properly declared by the shipper, they are premium cargo.But lithium ...
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Panalpina sees profits soar on record airfreight volumes
Panalpina reported revenue and profit increases last year on the back of record airfreight volumes, while it will continue to target “bolt-on” acquisitions.The Switzerland-based freight forwarder saw 2017 revenues increase 6.5% year on year to Sfr5.5bn, while earnings before interest and tax (ebit) climbed 26.1% to Sfr103m and profits were ...
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Antitrust regulator rejects Safair and SA Airlink deal
The South African Competition Commission has rejected the proposed purchase of Safair by South Africa (SA) Airlink over competition concerns.The Competition Commission said that it felt the merger of the two airlines would result in the removal of an effective competitor to SA Airlink on routes that it currently operates ...
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NewsAsia cargo monthly: Cargo carriers off to a flying start
Asian airlines started the year strongly with many of the region’s major carriers reporting stronger growth than they achieved last year.The region’s largest cargo carrier group, Cathay Pacific, saw cargo demand increase by 10.5% year on year in January to 954m cargo and mail revenue tonne kms.This represents the group’s ...
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International trade practices "archaic", says Freightos survey
International trade practices by US importers and exporters are “laughably archaic” say respondents to logistics technology provider Freightos' latest industry survey.With small businesses accounting for a third of total US imports, “a whopping 50% still rely on spreadsheets to manage shipments”, Freightos said after its survey of more than 500 ...
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Jefferies expects forwarder performance to be divided in 2018
A report from global investment bank Jefferies says that while European freight forwarders are benefiting from accelerating global trade, the resulting inflationary freight rates are putting “unprecedented” pressure on yields and increasing the performance divide.Airfreight volumes rose by 10% year on year in 2017, while seafreight was up by 6% ...
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Singapore and Guyana strengthen ties with open skies deal
The Singapore Airshow 2018 was the setting for the conclusion of an Open Skis Agreement between Singapore and Guyana on February 4.The Air Services Agreement allows the airlines of Singapore and Guyana to operate any number of services between the two countries and on to any third country. There will ...
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TIACA reveals a new vision
TIACA has revealed a new vision for today’s business environment: “a forward-looking approach to representing, supporting, and informing every element of an efficient, modern, and unified air cargo industry”.That approach is set to include more training, consultancy and advocacy, alongside collaboration with other organisations and government bodies around the world.For ...
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HNA Group faces headwinds after buying spree
China's HNA Group, which has invested in several logistics assets, is facing headwinds following a spending spree that has left the company in debt and concerns over its ownership structure.Bloomberg reports that the company has seen three deals in the last three months fail and its short-term debts have reached ...
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Lack of airfreight space drives up "sky high" rates
Freight forwarders are continuing to report a lack of cargo space and "sky high rates", while claiming that some shippers are turning to ocean transport to avoid delays.According to the latest Freightos International Freight Index, the rush in demand for airfreight capacity has not abated, and shippers are turning to ...
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UK – China accord to boost flight connectivity
UK transport secretary Chris Grayling has revealed the details of a new deal between the UK and China that allows for a 50% boost in the number of passenger flights between the two nations.It builds on successful discussions held in October 2016 that saw limits on passenger flights between the ...