Business – Page 45
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News
CEVA targets Latam perishables with Cargex takeover
CEVA Logistics has signed an agreement to purchase all shares in Colombian freight forwarder Cargex as it looks to expand in the Latam region.The Bogotá-headquartered firm has been established for more than 25 years and its primary focus is export management of perishable goods.The company has operations in Bogotá, Medellin, ...
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IAG Cargo volumes continue to recover in the second quarter
IAG Cargo saw its revenues and volumes improve in the second quarter of the year but demand still lags pre-covid levels.Revenues for the period grew by 13.6% year on year to €419m, while cargo tonne kms (CTK) improved by 72.8% on last year to 999m and tonnes carried increased 55.8% ...
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NewsAAPA: Asia Pacific air cargo market "resilient" in June
The Asia Pacific region's air cargo market has remained resilient — a contrast to the "suppressed" passenger market, according to the Association of Asia Pacific Airlines (AAPA).AAPA's preliminary June 2021 air traffic figures show that international air cargo demand for Asia Pacific-based carriers, measured in freight tonne km (FTK), increased ...
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DSV Panalpina posts increased H2 revenues as Agility GIL acquisition continues
DSV Panalpina has reported increased revenues and operating profits (ebit) in its interim half-year 2021 financial results.The forwarding giant, which started the process of acquiring Agility Global Integrated Logistics (GIL) earlier this year, said its performance was "driven by 18% growth in gross profit and a high productivity across all ...
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InsightsIATA: Strongest half-year cargo demand since 2017 but capacity remains constrained
IATA has highlighted the need to re-establish passenger network connectivity to boost bellyhold capacity and ultimately airline revenues, as cargo demand remains strong.Speaking at a media update this week, Ezgi Gulbas (pictured below), senior economist at IATA, said overall cargo demand in the first half of this year was 8% ...
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NewsBUD achieves record cargo volumes in H1 2021
Image source: BUDBudapest Airport (BUD) has achieved record cargo volumes in the half of 2021.From January to June this year, the hub handled 86,798 tonnes cargo — a 36% year-on-year increase on the same period in 2020.BUD also noted that from June 2020 to June 2021, its Cargo City handled ...
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NewsTakeOff Cargo: Forwarder charter operations expected to continue
Forwarder charter operations are expected to continue to the main airport hubs as part of efforts to provide service stability.Speaking at the TakeOff Cargo event, which is taking place this week, industry leaders discussed the changing air cargo market.In one discussion moderated by Steven Polmans, chairman of TIACA, Joachim von ...
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News
K+N's air division earnings boosted by Apex deal
Forwarder Kuehne+Nagel (K+N) has more than doubled its earnings in the first half of 2021.The company said that "continued recovery of the global economy led to strong demand for logistics services", which in turn helped it to achieve group net turnover of CHF13.3bn — 35% higher than the same period ...
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NewsAir cargo gains from rising prices in ocean shipping
High ocean freight rates caused by service disruption is helping push forwarders and shippers to use airfreight.In its latest market summary, airline association IATA said that air cargo is benefitting from "exceptionally congested" container shipping supply chains.It pointed out that the cost-competitiveness of air cargo relative to that of container ...
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News
Geodis strengthens pharma offering with Gandon Transports acquisition
Supply chain firm Geodis is set to expand its presence in the pharma market with the acquisition of temperature-controlled logistics business Gandon Transports.Geodis said Gandon Transports, which specialises in the transport of pharma products at controlled temperatures of 2°C to 8°C and 15°C to 25°C, has an extensive network of ...
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DP World to expand Africa and Europe presence with Imperial acquisition
Supply chain solutions provider DP World has revealed plans to acquire Imperial Logistics in an $890m deal.Dubai-headquartered DP World, which has 136 business units in 61 countries across six continents, said it is interested in acquiring Imperial and all of its businesses to expand its logistics footprint in Africa and ...
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NewsCLIVE: Air cargo back on track for recovery
Source: CLIVE Data ServicesAir cargo demand returned to growth in June following a drop in May as a result of public holidays.The latest statistics from CLIVE Data Services show that air cargo demand in June increased by 1% compared with the same month in 2019 (used for comparison due to ...
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IATA: Volumes outperform pre-Covid levels, but pace slows in May
IATA has reported in its latest market analysis that air cargo volumes in May continued to outperform pre-Covid (2019) levels - although the pace in demand in May was slower than that in April.Global air cargo demand in May 2021, measured in cargo-tonne kms (CTKs), was reported as 9.4% higher ...
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DP DHL ups forecast as it expects record Q2 profits
Deutsche Post (DP) DHL has reported record operating profits in its preliminary second-quarter results and upped its outlook for the year.The logistics and postal giant said its preliminary operating profit (ebit) for the second quarter has reached a record level of €2.1bn compared with €912m on last year.The company said ...
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NewsHellmann set for Innight Express acquisition
Tobias Maue, Tamás Aradi, Zoltán Csombok, Wilfried Hesselmann and Zsuzsanna Fazekasne Bencze. Source: HellmannHellmann Worldwide Logistics will acquire overnight express provider Innight Express as it aims for expansion in central and eastern Europe.The express firm is based in Hungary and Romania and the two shareholders, Tamás Aradi and Zoltán Csombok, ...
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News
Kuehne+Nagel sells minority stake in Apex
Kuehne+Nagel has agreed to sell a 24.9% stake in recently acquired Apex International to private equity firm Partners Group.The forwarder said that following the deal, it will work alongside Partners Group to implement a "transformational value creation plan" for the China-based forwarder with key initiatives including establishing new freight forwarding ...
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NewsWorldACD: Air cargo demand on the up but with regional variances
Air cargo demand continues to track in line with 2019 levels but regional performance is mixed, according to WorldACD.The data provider's latest numbers show that air cargo demand in chargeable weight was in May around 1% below 2019 levels — used for comparison given Covid's impact in 2020 — and ...
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FedEx to add freighters and boost spending to meet demand
FedEx will boost spending over the coming year and add more freighter orders to meet growing e-commerce demand.Announcing its results full-year results for fiscal year ended May 31, the express giant said it expected to spend around $7.2bn in FY 2022 compared with around $5.9bn last year.Meanwhile, FedEx will exercise ...
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Seko Logistics notes clients "pivoting" between sea and air capacity
Seko Logistics has said many of its manufacturer clients are "pivoting" between seafreight to airfreight and "leveraging air capacity as an option when they can".The logistics provider said growth in cross-border e-commerce is increasingly pushing manufacturers to use airfreight, as seafreight capacity struggles to cope with pressure.The company also noted ...
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NewsHat-trick of new cargo airlines plan for take-off
Source: AliscargoThe past week has seen three new companies - in the UK, Italy and Vietnam - reveal plans to enter the all-cargo market as prices and availability of capacity make the market an attractive prospect.Last week, Italian firm Aliscargo was preparing for the arrival of its first aircraft - ...