Business – Page 66
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News
XPO Logistics considers selling business units
XPO Logistics is considering the sale or spin off of one or more of its business units as it believes its shares are trading below expectation.The logistics company said yesterday that its board has authorised a strategic review of the business."We continue to trade at well below the sum of ...
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China-US phase one deal welcomed as a first step towards an agreement
China and the US last night signed the first phase of a trade deal that has been welcomed by US companies and business groups, but they urged the two countries to begin the second round of negotiations and remove all tariffs.China has pledged to increase US imports over 2017 levels ...
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CEVA Logistics re-organises senior management team
CEVA Logistics has re-organised its senior management team nine months after its takeover by shipping line CMA CGM.The company said that chief executive Nicolas Sartini, who took the role in June last year, will be replaced by Mathieu Friedberg who was previously senior vice president commercial and agencies network at ...
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NewsNagel-Group sells its airfreight business
Source: Nagel-GroupFood logistics firm Nagel-Group has sold its airfreight business to KOTRA-Logistics as it looks to concentrate on its core competencies.Nagel Airfreight was founded in 1987 and has about 40 employees at three German locations: Frankfurt, Berlin, and Bremerhaven.The airfreight business specialises in the distribution of fresh fish, an area ...
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A tough end to the year for cargo at Europe's major airlines
The end of year traffic figures from European airlines sum up what a tough year 2019 was for the air cargo business.Figures just released by Lufthansa show that cargo carried by its various airline businesses in 2019 was down by 2.1% year on year to 10.7bn revenue cargo tonne kms ...
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Air cargo contracts expected to be at lowest level for four years
The baseline price of airfreight ACMI and block-space agreements are expected to be negotiated at their lowest level in four years despite expectations of a pick up in 2020.Speaking to Air Cargo News, Peter Stallion of airfreight derivatives broker Freight Investor Services (FIS) said that contracts tended to be negotiated ...
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SOL ups stake in forwarder Scanlog
Svenska Orient Linien (SOL) has taken a majority shareholding in logistics firm Scandinavian Logistics Partners (Scanlog).Until now, the shipping company has had a 20% holding in the business, but now it is expanding its ownership to just over 50%.“With SOL, Scanlog gets a strong majority shareholder who can help us ...
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NewsEmbraerX and Elroy Air collaborate on drone delivery systems for booming e-commerce market
EmbraerX, the Brazilian planemaker’s innovation subsidiary, has signed a collaboration agreement with Silicon Valley drone delivery startup Elroy Air for the purpose of developing the unmanned aerial vehicle air cargo market worldwide.The companies announced their agreement on January 8 at the Consumer Electronics Show in Las Vegas.EmbraerX and Elroy Air ...
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NewsLATAM Cargo: Maintaining the balance
LATAM Cargo chief executive Andrés BianchiThe challenge of ensuring aircraft are full of cargo is not an easy one to meet at the best of times, but when the market is in a downturn the task becomes even more difficult.One person meeting this challenge head on is LATAM Cargo chief ...
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IAG chief executive Willie Walsh to retire
International Airlines Group (IAG), the parent company of IAG Cargo, has announced the upcoming retirement of its chief executive Willie Walsh.Walsh will stand down from his role and from the IAG board on March 26 and will be succeeded by Luis Gallego, who is currently chief executive of Iberia.IAG, which ...
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NewsAAPA reflects on another decline in airfreight demand
The Association of Asia Pacific Airlines (AAPA) has revealed in its preliminary figures for November that demand for air cargo remained weak, in-line with trends internationally.In fact, during November last year, international air cargo demand in freight tonne kilometres (FTKs) declined by 1.9% year-on-year. Meanwhile, capacity for international arifreight increased ...
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SITA and CHAMP join trade facilitation alliance
Aviation software firms and partners SITA and CHAMP Cargosystems have joined the Global Alliance for Trade Facilitation, which aims to make trade simpler.The alliance was set up to help governments implement the World Trade Organization’s Trade Facilitation Agreement (TFA) and is currently delivering ten projects across Africa, Asia and Latin ...
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NewsIATA: Pressure appears to have eased on declining airfreight market
IATA's latest airfreight market analysis, which details figures for November 2019, noted that industry-wide freight tonne kms (FTKs) dipped by 1.1% year on year. This marked the 13th consecutive month of year-on-year decline in airfreight volumes.However, November's performance was also the best in eight months, because it showed the slowest ...
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WiseTech continues expansion with SISA acquisition
Fast expanding supply chain software firm WiseTech Global has acquired SISA Studio Informatica, a customs and freight forwarding solutions provider in Switzerland.SISA provides solutions covering customs clearance, freight forwarding and bonded warehouse management. Its customers include DHL Logistics (Schweiz), Fiege Logistik (Schweiz), FedEx, Post CH, Agility Logistics, F. Hoffmann-La Roche, ...
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SEKO increases airfreight presence with Air-City acquisition
SEKO Logistics has completed its largest-ever acquisition with the purchase of New York-based Air-City.The logistics firm said the move would help it expand its presence on the westbound airfreight market, while also adding resources to its key New York region.The purchase will also see SEKO add facility infrastructure in the ...
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EL AL Israel Airlines back in the freighter market with Atlas deal
Freighter operator Atlas Air and EL AL Israel Airlines have entered an agreement that will allow the Tel Aviv-based carrier to expand its reach and cargo lift for its customers through the use of a B747.As part of the ACMI (aircraft, crew, maintenance and insurance) agreement, Atlas Air will operate ...
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A tough year for air cargo rates but some positives
Airfreight rates on major east-west trade lanes ended the year behind 2018 levels, but the picture is more positive when taking a longer term perspective.Data from TAC Index shows that in December rates on services from Hong Kong to North America declined by 22.6% on last year to an average ...
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Bain-Titan $1bn JV reflects a changing airfreight market
The joint venture between Bain Capital and Titan Aviation announced at the end of last year is expected to take aim at the e-commerce market and also reflects a changing air cargo market, according to one consultant.The joint venture deal will see Bain invest $360m of equity in the project ...
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NewsOn-Time Performance Review: Most punctual airlines and airports revealed
Analytics firm Cirium has ranked the world’s most on-time airlines and airports by size and region in its 11th annual On-Time Performance Review using data generated from its reporting and tracking tools.In Cirium's review, Russian airline Aeroflot is named as the world's most on-time global mainline airline (a carrier without ...
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Elanders and Dimerco form air and sea freight forwarding joint venture
Taiwan-based global transportation and logistics specialist Dimerco has formed a joint venture with Elanders.As part of the joint venture, Dimerco has acquired 25% of Elanders’ subsidiary: ITG Air & Sea.Dimerco has the option to increase its stake to 49% after two years.The joint venture will allow ITG to better focus ...