Business – Page 17
-
News
Scan Global Logistics on a roll with Swiss acquisition
Scan Global Logistics (SGL) has entered the Swiss market for the first time through the purchase of Belglobe.Fast-growing SGL said Belglobe had three decades of experience and a "strong position" in the temperature-controlled pharma healthcare and luxury consumables industries."SGL will gain immediate proximity to multinational companies’ central procurement and supply ...
-
NewsRhenus takes aim at Central Europe growth with latest acquisition
Source: RhenusRhenus has continued its recent investment spree with the acquisition of Hungarian freight forwarder ITS Logistics Hungary KFT.The Germany-headquartered firm said that the purchase would consolidate its foothold in Central-East Europe following the integration of Croatian logistics provider Trans Integral.ITS Logistics Hungary KFT is based in Vecsés on the ...
-
News
Röhlig Logistics achieves CEIV lithium batteries
Röhlig Logistics' US business has achieved IATA Center of Excellence for Independent Validators Lithium Batteries (CEIV Li-batt) certification for its branches in Chicago and New York.Röhlig USA said that to achieve the certification it had to pass a lengthy certification process consisting of in-depth employee training, on-site assessments and a ...
-
NewsHellmann acquires Italian partner as it looks to Mediterranean expansion
Jens Tarnowski, Daniela Coppola and Andreas Lamping, Hellmann. Source: HellmannHellmann Worldwide Logistics is taking over its Italian partner as it continues to expand its European operations.Milan-based Hellmann Italy employs approximately 70 people at six locations and has been providing air and seafreight services to Hellmann since it was founded in ...
-
NewsNo signs of a peak season as air cargo market remains weak in August
Although air cargo declines have narrowed in recent months there are no signs that the industry will enjoy a peak season despite some expressing hopes of a recovery in the final months of the year.The latest data from Xeneta-owned CLIVE Data Services shows that in August demand in chargeable weight ...
-
NewsRhenus targets nearshoring with LATAM investments
Source: RhenusFreight forwarder Rhenus Group has expanded its presence in Latin America with the purchase of BLU Logistics and the acquisition of a majority stake in LBH Group.The German firm said that the acquisition of Colombia-based BLU would expand its presence in Argentina, Colombia, Ecuador, Mexico, Paraguay and Uruguay as ...
-
NewsAir cargo declines continue to narrow in July
Declines in air cargo volumes narrowed to their lowest level of the year so far in July as the market continued to show signs of bottoming out.The latest figures from IATA show that in July air cargo traffic in cargo tonne km (CTK) terms fell 0.8% year on year - ...
-
NewsSwissport gains IATA pharma standard in Liege and Toronto
Photo: SwissportSwissport’s cargo facilities at Liège Airport in Belgium and Toronto Pearson International Airport in Canada have obtained IATA’s CEIV Pharma certificationThis marks the company’s 16th and 17th certifications for pharma warehousing. Liège is Swissport’s second CEIV Pharma-certified facility in Belgium after Brussels.Toronto is also the second certified cargo location ...
-
News
Capacity up but demand remains depressed, says DHL
Demand remains low with minimal growth while global capacity has increased by 12% year on year, said DHL Global Forwarding in its Air Freight – State of the Industry report for August.While only a ‘conservative’ increase in volume demand is expected in the 2023 late-year peak season, most airlines have ...
-
News
Menzies locked out of Namibia airport but continues legal battle
Menzies Aviation has stated it is "entitled by law" to continue operating at Hosea Kutako International Airport (HKIA) as its dispute with airport operator Namibia Airports Company (NAC) continues and a backlog of air cargo shipments builds up.Ground handler Menzies has been operating at HKIA since 2014. However, a long-running ...
-
News
Ascent Global Logistics acquired by investment firm
Time-critical logistics firm Ascent Global Logistics has been acquired by an investment firm hoping to capitalise on increasingly complex supply chains.The Michigan-headquartered firm has been bought by an affiliate of investment firm HIG Capital from Elliott Investment Management.Ascent’s management team will remain shareholders in the company and Elliott has also ...
-
News
CEVA Logistics expands in India with acquisition
French firm CEVA Logistics is expanding in India with the purchase of nationwide contract logistics expert Stellar Value Chain Solutions.CMA CGM-owned CEVA Logistics said it has signed an agreement to acquire 96% of Mumbai-based Stellar Value Chain Solutions from an affiliate of private equity firm Warburg Pincus and other shareholders.Launched ...
-
News
Aircon raises over $3m in seed funding
Airfreight consolidation company Aircon has secured seed funding that will enable it to invest in industry partnerships, grow its AI tech infrastructure and expand.The Dallas-based company, which uses AI to identify opportunities across airfreight shipments to maximise space and weight utilisation and reduce costs, has closed a $3.3m seed round ...
-
News
Wallenborn withdraws from stake in Skyroad Logistics
Wallenborn will not go ahead with its previously announced acquisition of a stake in Australia-based Skyroad Logistics.Road feeder services (RFS) operator Wallenborn said in November that it would acquire a shareholding in fellow RFS firm Skyroad Logistics, though it did not confirm how large a stake it would take at ...
-
NewsSwissport takes majority stake in Düsseldorf Airport cargo handling unit
Photo: SwissportSwissport has closed the acquisition of a 74.9% stake in Flughafen Düsseldorf Cargo, the cargo handling unit of Düsseldorf Airport.Starting August 17, Swissport Deutschland and Flughafen Düsseldorf have embarked on a long-term joint venture partnership at Düsseldorf Airport, operating under the new name of Swissport DUS Cargo Services.First announced ...
-
News
Wheels Up rescued with $500m in funding
Delta Air Lines, travel investment firm Certares Management and Knighthead Capital Management have stepped in to rescue troubled private jet firm Wheels Up Experience - parent of cargo charter broker Air Partner.The deal will see the three companies provide a $400m term loan and a $100m liquidity facility from its ...
-
News
Volga-Dnepr threatens legal action over seized AN-124
Volga-Dnepr has reportedly threatened legal action against the Canadian government over its seizure of one of its Antonov AN-124 freighter aircraft.According to Russia's Interfax news agency, the airline group sent a letter to Canadian authorities - including prime minister Justin Trudeau - asking for the dispute to be resolved amicably.However, ...
-
News
Flurry of freighter deliveries for ATSG
Air Transport Services Group’s (ATSG) Cargo Aircraft Management (CAM) subsidiary has delivered a record six converted freighters under lease in one month to customers globally.This brings ATSG’s total deliveries this year to nine.Converted freighter deliveries by the company in the past month, each of which are under lease for a ...
-
News
Cargojet focuses on costs as e-commerce volumes weaken
Canada-based freighter operator Cargojet will focus on cost reduction initiatives as a slowdown in e-commerce and business-to-business demand hit its financial performance.The airline saw second-quarter revenues decline by 15% year on year to C$209.7m, due primarily to decreases in domestic network revenues, all-in charter revenues, fuel surcharges and other pass-through ...
-
NewsDachser eyes acquisitions
Burkhard Eling, DachserAcquisitions are on the growth agenda for German logistics company Dachser.Chief executive Burkhard Eling said the company is “definitely looking for some targets” across its Air & Sea Logistics (ASL) division.However, while in its Road Logistics (RL) business Dachser has traditionally waited for opportunities to acquire partners it ...