All Freight Forwarder articles – Page 4
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News
Seko responds to market pressure with recapitalisation
US forwarding and logistics firm Seko Logistics has recapitalised to strengthen its financial position and allow for future investments.The company said it had successfully entered into a definitive agreement on a transaction with its key financial partners, although it has not outlined the exact details of the refinancing.The agreement is ...
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CVC offers to increase bid for DB Schenker
The private equity consortium led by CVC has reportedly launched a last-ditch effort to beat DSV in the race to buy DB Schenker despite the Danish forwarder having signed a €14.3bn take over deal last week.News agencies Reuters and Bloomberg are both reporting that CVC has written to Schenker parent ...
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NewsUS box port workers 'ready to strike' as contract deadline looms
Source: Strikernia/shutterstockUS East and Gulf Coast container port workers say they are ready to launch industrial action on October 1 unless a new contract can be agreed with terminal bosses before then.The International Longshoremen’s Association (ILA) yesterday issued a statement to say that members are "united as never before in ...
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News
S&P revises DSV's A- rating outlook to negative following Schenker deal
Credit ratings agency S&P has re-affirmed the forwarder's current credit rating of A- but revised its outlook to negative due to the risks associated with its planned €14.3bn take over of German logistics giant DB Schenker.S&P said that its decision to revise the firm's outlook from stable to negative reflects ...
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News
Dachser warns of potential golden week supply chain disruption
Dachser has warned customers to "start preparing now to minimise potential disruptions" to supply chains ahead of Golden Week in China.The forwarder said that from October 1 to October 7, most businesses and factories in China will be closed for the Golden Week holiday, which takes place during an already ...
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News
US plans a further crack down on e-commerce imports
The Biden administration last week announced plans to implement stricter rules on e-commerce goods being imported into the country under the de minimis exemption. If implemented, the requirements would mean that any products that are part of the Section 301, Section 201, or Section 232 trade enforcement actions would no ...
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NewsDSV signs deal to takeover DB Schenker and create world's largest forwarder
DSV has confirmed reports that it has signed a deal to take over German logistics giant DB Schenker in a move that will create the world's largest freight forwarder.In an update issued this morning, the Danish forwarder said it had agreed to buy DB Schenker from state-owned railway firm Deutsch ...
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NewsReports: DSV set to win the race to buy DB Schenker
DSV has reportedly won the race to purchase DB Schenker in a $14bn deal that would create the world's largest freight forwarder.Newswire Reuters said that the Danish forwarder had beaten off competition from a CVC-led private equity consortium to buy Schenker, with the deal to be signed off in the ...
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NewsE-commerce fuelled capacity crunch to continue
Air cargo looks set to continue its precedent-setting volume growth driven by booming e-commerce and have a long-term bright future despite a looming capacity crunch, a keynote speaker at the EU Cross-Border E-commerce Forum, held in Liege, Belgium on September 10, said.“We had eight straight months of double-digit growth,” Ryan ...
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NewsDHL points to a difficult Q4 as more figures confirm a bumper August for air cargo
Source: Supakitswn/ shutterstock.comDHL Global Forwarding's latest market outlook has highlighted a difficult end to the year, while figures from WorldACD show buoyant market conditions continued in August.The forwarder's State of the Industry report looks at the potential impact of demand, capacity, rates, economic growth and service disruption in the fourth ...
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NewsTrans Global Projects appoints new Benelux head of operations
Source: Trans Global. Edwin van LethTrans Global Projects (TGP) has appointed Edwin van Leth as head of operations in the Benelux region.Van Leth has worked in logistics for over 25 years, working across the region and multiple sectors, before specialising in project cargo.TGP chief executive Colin Charnock said: "Edwin will ...
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NewsOwen Mumford extends with Davies Turner
Source: Davies TurnerMedical device firm Owen Mumford has renewed its logistics partnership with Davies Turner for an additional three-year term.The renewed contract will continue to see Davies Turner providing UK logistics solutions, EU exports, including airfreight, and NHS fulfilment services, for Owen Mumford.Davies Turner, operating from one of its logistics ...
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Forwarders warn of air cargo peak season capacity crunch
Freight forwarders are warning of an air cargo capacity crunch out of key Asian markets during the peak season as new product launches and e-commerce demand put pressure on an already strained market.In its latest update, Taiwan-headquartered company Dimerco said that the rise in e-commerce demand experienced this year was ...
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News
Reports: DSV outlines job and investment plans if it lands DB Schenker
DSV has reportedly outlined how it would protect jobs and invest in DB Schenker following a leading German union expressing concern over job losses if the Danish forwarder is successful in its takeover bid.Last week German trade union Ver.di is said to have written to the Deutsche Bahn board suggesting ...
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News
Canada joins the US in implementing stricter requirements for European air cargo shipments
Canada has joined the US in the sudden implementation of stricter security requirements for Europe- and CIS-based air cargo shippers importing goods into the country. Following the announcement of the new requirements, Air Canada Cargo warned shippers that they face an embargo unless they can meet the new requirements. The ...
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NewsScan Global seals deal for Blu Logistics Brasil
Scan-Global-Logisitcs.jpg Photo Scan Global Logistics Scan Global Logistics (SGL) has completed the acquisition of freight forwarder Blu Logistics Brasil Transportes Internacionais LTDA to extend its business in Latin America. The Danish forwarder announced in July that it had signed an agreement to buy the forwarder, which last ...
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News
Leading German union backs CVC bid for DB Schenker
Leading German trade union Ver.di has reportedly given its backing to the CVC-led private equity consortium bidding to take over DB Schenker over fears of job losses should DSV be successful.According to Bloomberg, research from the union has indicated that more jobs would be lost at the forwarder because the ...
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Transpacific air cargo rates pick up in August as firm demand continues
Air cargo rates on the transpacific trade picked up in August as the busy market conditions continued and companies begin to eye what is expected to be a strong peak season.The latest figures from the Baltic Exchange Airfreight Index (BAI) calculated by TAC Index show that rates from Hong Kong ...
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Navigating air cargo's peak season
To avoid peak season meltdown, logistics providers and air cargo carriers must meet the challenges this time of year brings.Attacks on cargo ships in the Red Sea have caused maritime transport delays, diversions and sharply rising costs this year, and that’s having an impact on air cargo too, heightening demand.E-commerce ...
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Shippers urged to plan for peak as air cargo could overheat
Shippers have been urged to secure space and make contingency plans as the air cargo market is facing capacity shortages out of key Asian markets during the peak season, according to speakers on a webinar from Xeneta and Tiaca.Speaking on the webinar, Xeneta airfreight analyst Wenwen Zhang pointed to statistics ...