Finance – Page 43
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CEVA air freight volumes on the up
Supply chain specialist CEVA reports that its third quarter airfreight volumes rose five per cent over prior year, ahead of the market.CEVA also announced that it is adopting a local, rather than region-based, operating model.Xavier Urbain, chief executive of CEVA, said: “For our customers, local ownership of execution is very ...
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DP DHL: air freight in Q3 surge
New business helped logistics giant Deutsche Post DHL record a 2.3 per cent growth in air freight volumes to 2.97m tonnes in the first nine months of 2014 versus prior year, outpacing sector revenues that edged ahead 0.6 per cent to E3.7bn.However, third-quarter air cargo volumes climbed “significantly” by 4.8 ...
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Agility shows growth
GLOBAL forwarder Agility's third quarter revenues were KD337m, a three per cent increase from the same period a year earlier, with a profit rise of seven per cent to KD13m.For the first nine months of 2014, the Kuwait-based global logistics operator reported a net profit of KD37.1m, an increase of ...
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DB Schenker seeks $2.5bn in cargo cartel compensation
German logistics giant DB Schenker is seeking estimated damages of $2.5bn after filing lawsuits in US and Germany against airlines involved in a global air cargo cartel between 1999 and 2006.It has warned that the total damages could add up to more than $3.3bn.The parent company, German rail operator Deutsche ...
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Airlines respond to price-fixing charges
Three of the seven airlines named in a US price-fixing lawsuit by forwarder DB Schenker have filed motions to dismiss the action.At the Eastern District of New York court on January 16, All Nippon Airways and Cargolux argued that the German-based forwarder had been ‘forum shopping’ – choosing the jurisdiction ...
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German shippers join cartel claims lawsuit
German carmaker BMW and car supplier Bosch are joining German railway Deutsche Bahn in a $2.4bn claim for damages against airlines involved in a global air cargo cartel between 1999 and 2006.Spokespeople for BMW and Bosch told Reuters that the companies had joined the lawsuits, announced by Deutsche Bahn’s DB ...
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Christmas overspend flattens UPS earnings
UPS reported “flat” fourth quarter earnings in the fourth quarter of 2014 compared with the same period in prior year. In fact, earnings per share, at $1.25, were identical to 2013, said the US-based express carrier.It blamed higher than expected peak operating expenses in its home market as the carrier ...
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Support grows for Hong Kong's self-funded third runway
Cathay Pacific Airways has reiterated its “unequivocal support” for a third runway at Hong Kong International Airport (HKIA), the world's top cargo hub, believing that the project can be self-funded.Cathay Pacific chief executive Ivan Chu said: “There is an urgent need to move ahead with the third runway project as ...
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IAG Cargo to offer all-in freight rates
IAG Cargo is joining the all-in freight rates club, following the lead set by Emirates SkyCargo and Qatar Airways.A spokesman for the cargo arm of British Airways and Iberia said that it will remove the fuel surcharge and exceptional handling charges “to offer a simpler pricing structure”.He added that the ...
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Dachser keeps it in the family
European logistics company Dachser has become a Societas Europaea (SE) – a modern, pan-European company structure – but insists that it will remain a family-owned firm and is not planning to list on the stock market.Dachser spokesman Christian Weber said: “Dachser is and will be a 100 per cent family-owned ...
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APL deal gives Kintetsu global clout
Japanese-owned forwarder Kintetsu World Express (KWE) said its planned acquisition of APL Logistics (APLL) from Singapore-based NOL Group would allow it to combine its air and sea freight expertise with APLL’s logistics and value-added services.It would also give it a management base that can compete on a par with European ...
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Japanese post office swoops for Toll
Toll Holdings, Australia’s largest international logistics company, is to be sold to the Japanese post office in a deal worth A$8bn.The announcement came the day after another giant of the Japanese freight industry, Kintetsu World Express, said that it was buying APL Logistics from Singapore-based shipping operator NOL Group.Toll will ...
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Analysis: Japan's push for logistics growth
Japan Post Office’s move to acquire Australia’s Toll Group is seen by analysts as partly an attempt to stave off sluggishness in Japan’s domestic market.This is true for all Japanese companies, but particularly so for the post office, which is facing weakening demand for traditional mail and parcel delivery services, ...
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CASS cashes in
The Cargo Account Settlement Systems (CASS) airfreight payment scheme hit a record number of transactions in 2014.CASS, operated by IATA, improved on its 2013 figure by 3.6 per cent to reach 18.2m transactions during the year, as against 17.6m in 2013. November also saw the highest ever single month with ...
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2015 looks set for merger and takeover boom
A lower oil price looks set to fuel 2015 mergers and acquisitions (M&A) activity in the transport and logistics sectors.Global consultancy PwC believes that one key driver of improved M&A across modes “will likely be the decline in fuel costs globally, as oil prices have fallen to their lowest level ...
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Closed Manston Airport has freighter potential
Manston Airport in south-east England should be reopened as a potential freighter hub, says the Baltic Air Charter Association (BACA).The Kent gateway, about 60 miles from London, was an important diversionary airport and could potentially become a cargo hub, taking five to ten freighters a day, says London-based BACA, which ...
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Pharma helps K+N airfreight outpace the market
Kuehne+Nagel beat 2014 airfreight market growth with a 5.3 per cent increase in volumes to 1.2m tonnes for the full year.The Switzerland-based logistics giant’s air cargo increase is more than twice last year’s global market benchmark average of between three and four per cent.K+N, the world’s second largest airfreight forwarder ...
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Losses mount at dampened Damco
Damco, the global logistics arm of Danish shipping group AP Moller Maersk, more than doubled its annual losses to $293m for the full year 2014.The ocean giant parent said that Damco's losses were due to “significant” impairment hits in 2014 and “reduced profitability” in its ocean and airfreight segments.Netherlands- headquartered ...
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Airfreight bolsters Expeditors’ figures
A ten per cent year on year increase in airfreight net revenues contributed to a strong 2014 fourth quarter for US forwarder and logistics company Expeditors.The Washington-based company said its net earnings had increased 19 per cent in the quarter, to almost $99.4m, compared with $83.5m in the same period ...
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Panalpina predicts 3%-4% air cargo market growth in 2015
Panalpina expects the airfreight market to grow by between three and four per cent in 2015, driven by the technology, perishables and industrial consumables sectors.The Switzerland-headquartered multi-modal logistics company predicts that airline rates will “stay the same or even increase in selected trade lanes”, even though there is pressure on ...