Business – Page 14
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News
ECS Group expands in Latin America with latest acquisition
Sales agent ECS Group has expanded its presence in Latin America with the purchase of Americas GSA.Americas GSA employs 42 members of staff across 13 offices and has contracts with LATAM Airlines, MAS, Turkish Airlines, Lufthansa, Swiss, Korean Air, and Ethiopian Airlines, pushing the group’s airline portfolio up to more ...
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Air cargo market shifts to e-commerce
The air cargo market has undergone a "fundamental shift" to e-commerce over the last few months, which has helped support increases in airfreight rates.Writing in the monthly Baltic Exchange newsletter, Neil Wilson of airfreight rate data provider TAC Index said that rates have been increasing over the last few months ...
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NewsXeneta doubts air cargo demand improvements will be long lived
Air cargo volumes were boosted by seasonal e-commerce demand from Asia in November, but Xeneta is doubtful the industry will see sustained stronger demand.November was the first month this year that saw demand outstrip supply, but, echoing IATA's concerns, the rate analytics platform said global airfreight capacity will likely continue ...
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NewsIATA predicts a 4.5% rise in air cargo volumes in 2024
IATA is expecting air cargo demand to increase by 4.5% next year while pressure on rates is expected to bring down revenues for the sector.The airline association said the projection of a cargo tonne km increase next year comes on the back of the International Monetary Fund's prediction of a ...
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NewsIATA: Air cargo optimism to be balanced with caution
Air cargo traffic increased year on year for the third month in a row in October, but IATA has warned that optimism over the improvements should be balanced with caution.The latest figures from the airline association show that cargo tonne kms (CTK) increased by 3.8% year on year in October, ...
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NewsAIT Worldwide Logistics acquires pharma forwarder
Ultra-low temperature freezer farm units at Mach II's Netherlands facility. Photo: Business WireUS-headquartered global freight forwarder AIT Worldwide Logistics has acquired Mach II Shipping Ltd, a UK-based freight forwarder specialising in worldwide distribution of pharmaceuticals and related products.The deal includes a subsidiary in the Netherlands in addition to a global ...
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Hellmann expands into Ireland with new business
Hellmann Worldwide Logistics has expanded into the Republic of Ireland with the opening of its first branch.The forwarder's new business is close to Dublin Airport and will provide airfreight, seafreight, overland and customs clearance services.The new company will target the time-critical pharma and healthcare industries, as well as the electronics ...
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NewsFive firms scoop a prize at IATA's latest cargo hackathon
Source: Qatar CargoFive teams were awarded prizes for their cargo solutions developed at the latest IATA Hackathon hosted by Qatar Cargo.The hackathon took place in Doha on November 26 and saw 17 teams work over a 28-hour period to create and cargo submit solutions utilising the IATA ONE Record data ...
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News
Insurance integration for Breeze and Barrington Freight
Barrington Freight has signed up with Breeze's integrated digital insurance platform.Use of the platform removes the need to source insurance separately, which Breeze claims reduces costs by avoiding high premiums charged by third-party insurance providers."Utilising Breeze’s AI-driven platform to optimise quote generation, policy binding, and claims processing, Barrington has significantly ...
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NewsAsia holds demand and capacity cards
DHL Global Forwarding (DHL GF) paints a broadly stable picture for air cargo demand in its November 'Air Freight State of the Industry' report."Air cargo demand remain(s) steady, with a slight increase month on month (MoM), and remains flat year on year (YoY)," surmised the report.While overall demand was stable, ...
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NewsK+N buys Canadian customs broker
© 2023 Kuehne+Nagel. All rights reserved.Kuehne+Nagel (K+N) has purchased Canadian customs broker Farrow as it responds to "increasingly complex international trade regulations".Farrow employs 830 people at 41 locations across Canada and the US and in 2022 the firm managed more than 1.5m customs entries.Explaining the logic behind buying the firm, ...
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NewsSwissport sells stake in its Saudi business to drive air cargo
Osama Al Sayed, chairman of ASYAD (left), and Warwick Brady, president and chief executive of Swissport. Photo: SwissportSwissport International is selling a minority stake in Swissport Saudi Arabia to Saudi business portfolio ASYAD Holding in a bid to further expand its Saudi presence in air cargo handling.The Swiss aviation services ...
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NewsDachser takes full control of South Africa JV
Dachser South Africa. Photo: DachserDachser has acquired the remaining 30% of shares in Dachser South Africa and is now the sole owner of the Johannesburg-based country organisation.The global logistics provider has been represented in South Africa since 2011. At that time, Dachser entered into a joint venture (JV) with the ...
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News
ECS Group swoops on Ireland-based IAM
ECS Group said it has acquired GSSA International Airline Marketing (IAM) to expand its market share in Ireland to 30%.IAM was founded in Dublin, in 1989, by Sean McCool, father of current managing director, Ian McCool and currently serves more than 15 airlines.Its main office is in Stoneybatter, around 15 ...
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News
Forward Air-Omni Logistics takeover dispute continues
The ongoing legal battle between Forward Air and Omni Logistics over a takeover deal struck between the firms in August has continued in recent weeks.The most recent development in the ongoing dispute is that Forward Air has filed a counterclaim against Omni's lawsuit, which aims to enforce the merger between ...
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News
Booking portal Freightos sees Q3 revenues rise but losses deepen
Freightos continued to record improvements in both revenues and the number of transactions made on its booking portals in the third quarter but losses deepened.The company, which includes airfreight booking portal WebCargo, saw its revenues increase by 8.9% year on year to $5.1m in the third quarter of the year ...
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News
Mother nature helps push up airfreight rates
Airfreight rates continued to rise last week as weather conditions, volcanic activity and wars put capacity under pressure.The latest figures from TAC Index show that the overall Baltic Air Freight Index was up 4.6% in the week to November 20 compared with the previous seven days.The increases were led by ...
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News
Vaayu Group invests in Indian cargo carrier
UAE-headquartered Vaayu Group has signed an agreement to be a strategic investor in non-scheduled Indian cargo carrier Pradhaan Air Express.The deal was announced on the sidelines of the Dubai Airshow on November 16.Based in New Delhi, Pradhaan Air Express operates the world’s first A320P2F aircraft, which was leased from Vaayu ...
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NewsCargo-partner expands in the UK with Heathrow office
Source: Cargo-PartnerLogistics firm cargo-partner has continued to expand its presence in the UK with the addition of a new office close to Heathrow Airport.The company said the new office is in response to "growing customer demand from local customers".The company also has UK offices in Manchester, Basildon and Bradford and ...
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CargoLogicAir extends administration period
UK freighter operator CargoLogicAir has extended its administration period as it looks to meet creditor demands.The airline was last week granted an extension of its administration period by 24 months until November 16 2025.Following the extension, Jo Milner from the firm's administrator, Buchler Phillips, said: "It’s normal in particularly complex ...