Business – Page 41
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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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NewsNavia finds Keys to expanding its network and offering
Melbourne-headquartered Navia has extended its Australian network with the purchase of Perth-based Keys Freight and Logistics.Logistics company Navia now has locations in four Australian cities and an expanding global footprint with offices in strategic locations around the world.Keys Freight and Logistics was founded in 2015 and has expert knowledge of ...
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News
IATA warns knee-jerk Omicron reaction could hit cargo capacity
IATA has warned that cargo capacity could come under pressure if governments adopt a knee-jerk reaction to the Omicron variant.The airline association said that in October cargo tonne kms increased by 9.4% compared with 2019 levels, but added that capacity could be affected by any government restrictions on travel in ...
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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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News
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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News
Turkish Cargo boost airline's performance in Q3
Turkish Cargo saw its revenues increase by 45% in the third quarter of the year, helping the overall airline beat pre-pandemic performance.The cargo business reported cargo revenues of $969m for the period, compared with $668m last year.The increase mostly came from a recovery in its passenger flying which saw cargo ...
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NewsIAG Cargo sees demand return to 2019 levels
IAG Cargo saw cargo revenues increase and volumes exceed 2019 levels in the third quarter of the year.Total cargo revenues for the third quarter stood at €405m, an increase of 34.1% compared with a year ago. Meanwhile, sold cargo tonnes reached 134,000 compared with 94,000 in 2020.The cargo business said ...
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News
ATSG invests in more B767 conversions as Q3 profits increase
Freighter lessor and operator ATSG has ordered the conversion of four aircraft to 767-300 Boeing Converted Freighters (BCF) as profits continued to rise in the third quarter.During the third quarter, the company reported a revenue increase of 15.3% year on year to $465.9m, adjusted ebitda increased 21.9% against last year ...
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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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News
Supply chain issues continue to drive air cargo demand
Air cargo demand continued to increase in September as ongoing supply chain issues pushed companies to utilise airfreight.The latest figures from airline association IATA show that demand in cargo tonne km terms (CTK) increased by 9.1% in September compared with the same month in 2019.Capacity in available CTK for September ...
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News
Atlas Air quarterly revenues breach $1bn mark
Atlas Air Worldwide has seen its revenues breach the $1bn mark for the first time in the company's history.During the third quarter, the lessor saw its revenues increase by 25.5% year on year to just over $1bn, while adjusted ebitda climbed 42.9% on last year to $280.5m and net income ...
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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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NewsRhenus looks to expand in the US with GNL acquisition
Source: Rhenus LogisticsRhenus Logistics Americas has continued to expand its presence in the US through the acquisition of Texas-based forwarder Global Net Logistics.Rhenus said the move would strengthen the company’s global air and ocean network in the southwest region of the USA and complement the existing Houston branch.Global Net Logistics ...
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NewsAir Canada's cargo revenues exceed C$1bn mark for the year
Air Canada Cargo reported record figures in the third quarter of the year as the airline continues its push into the air cargo market.The carrier reported cargo revenues for the third-quarter period of C$366m, an increase of 69.4% compared with a year earlier.Over the first nine months of the year, ...
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News
Maersk targets air cargo with Senator acquisition and freighter order
Shipping giant AP Moller Maersk is expanding into the air cargo market with the acquisition of freight forwarder Senator International and the addition of five freighters.The company, which owns the world's largest container shipping line Maersk Line, said it "intends" to acquire Senator International to "accelerate its product offering which ...
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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 ...