Freight forwarders – Page 23
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News
EV Cargo becomes sole shareholder of Allport Netherlands
Hong Kong-headquartered freight forwarder EV Cargo has acquired the remaining 60% of the shares of Allport Netherlands from its joint venture partner.As part of the transaction, EV Cargo will also acquire the remaining shares in EV Cargo Global Forwarding Belgium to become the sole shareholder of this business as well.Formed ...
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NewsUS air cargo sector concerned over stricter screening rules
Brandon Fried, AfA. Source: AfAThe US air cargo sector highlighted some of the concerns it has regarding the implementation of stricter cargo screening rules due to be enforced later this year.From November all cargo must be screened before it is loaded onto a freighter but a panel at US Airforwader ...
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NewsBIFA continues to expand training team
Carri Marais. Source: BifaUK forwarder association Bifa has appointed Carri Marais as trainer – freight and customs procedures as it looks to continue expanding its training team.Marais joins from DB Schenker Road Freight and has more than 25 years of experience in freight forwarding and logistics, including the management of ...
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News
Forwarders locked into “sky high" rates
One air cargo stakeholder is “fearful” of the rates that freight forwarders began to pay to secure capacity during the recent period of high air cargo demand.Speaking exclusively to Air Cargo News, Etihad senior vice president global sales & cargo Martin Drew said a key issue is the length of ...
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NewsGCL accelerates its expansion with automotive acquisition
Source: Global Critical LogisticsGlobal Critical Logistics (GCL) has acquired UK-based Classic Automotive Relocation Services (CARS) as it looks to expand its geographical presence and customer base.CARS is a specialist in the shipment of historic and rare vehicles by road, air, and seafreight, operates a network of specialist storage facilities and ...
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NewsScan Global Logistics outlines benefits of new majority owners
Source: Scan Global LogisticsScan Global Logistics is hoping that its new majority owners will help the company achieve its ambitious growth plans as it strives to reach $5bn in annual revenues.Earlier today, the fast-growing freight forwarding company announced that private equity fund CVC Capital Partners Fund VIII (CVC) had purchased ...
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News
CVC takes majority stake in fast-growing Scan Global Logistics
Fast-growing freight forwarder Scan Global Logistics has a new majority shareholder in the shape of private equity fund CVC Capital Partners Fund VIII (CVC).CVC has acquired the shareholding from an investor group led by AEA Investors Small Business Private Equity (AEA) but details of the transaction were not released.AEA will ...
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InsightsAir cargo outlook: challenging market ahead
It’s been an interesting period for the air cargo industry as volumes have been trending downwards since the first half of last year, while the capacity situation continues to change and rates remain above pre-Covid levels despite recent declines.The fall in volumes reflects high inflation that is affecting consumer spending, ...
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Insights
The changing role of traditional and digital forwarders
The meteoric rise in freight levels during the pandemic created an irrational exuberance for most forwarders, but the party is ending for some, writes Airforwarders Association (AfA) executive director Brandon Fried.As freight forwarders begin to see reduced shipments drop to more realistic levels, some still see high volumes but most ...
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NewsDSV reports on a strong year
Denmark-headquartered supply chain services provider DSV has revealed strong results for 2022, which it said had been driven by “good performance across all our business areas”.Over 2022, its gross profit increased by 33%, while earnings before interest and taxes (EBIT) before accounting for special items rose by 48%.DSV’s Air & ...
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NewsDB Schenker in it for the long-haul with cargo charter network
Source: Air Cargo NewsDB Schenker will continue its air cargo charter operation for the long-term and expects other forwarders to do the same despite recent market weakness.Speaking to more than 400 delegates at a busy World Cargo Summit, DB Schenker global head of airfreight Asok Kumar outlined Covid-related developments that ...
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NewsBIFA Award winners net a trophy
Source: BIFAThe annual BIFA Freight Service Awards took place in London yesterday, with the winners revealed by footballing legend Kevin Keegan.The awards took place at The Brewery in London and attracted a record-breaking audience of 550 people who raised more than £3,500 for international development charity Transaid.The Air Cargo Services ...
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NewsAir Canada and OEC Canada undergo screen test
Air Canada Cargo said it recently shipped an IMAX screen housed in a crate that is one of the largest items it has ever fit into a Boeing B767 freighter.The cargo carrier worked with freight forwarder OEC Canada to fit the 44 ft long, 800 kg crate in the B767, ...
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NewsSave the date: Air Cargo News Awards 2023
This year's Air Cargo News Awards will take place on Thursday, October 12 at the London Syon Park Hilton close to Heathrow Airport.The awards are in their 39th year and honour those companies who have invested in providing great customer service, operational excellence and innovative technologies.This event celebrates excellence in ...
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News
Flexport to cut back "overstaffed" workforce by 20%
Flexport has announced it is trimming the number of staff it employees by around 20% in response to expected reduced volumes following increasingly challenging economic conditions.According to a release on the freight forwarders blog, Flexport co-chief executives Dave Clark and Ryan Petersen issued a note to employees on January 11 ...
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News
No signs of Chinese New Year rise in air cargo demand
Any hopes of a surge in air cargo demand ahead of the Chinese New Year/Lunar New Year holiday appear to have faded as economic pressures continue to put the breaks on consumer spending.The two-week holiday this year falls on January 22 but industry players are not expecting to see the ...
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News
GEFCO to be re-branded as CEVA following takeover
Automotive logistics firm Gefco will be re-branded as CEVA Logistics and become part of a newly created Finished Vehicles Logistics (FVL) division at the forwarder.The integration of Gefco into the wider CEVA organisation follows the purchase of the automotive logistics firm in July 2022 by the CMA CGM Group, which ...
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NewsFirst project shipment for K+N’s B747
Source: Kuehne+NagelKuehne + Nagel (K+N) has completed its first engine shipment using its Boeing 747-8F aircraft.The team in Chicago transported a nine-tonne Rolls Royce aircraft engine onto its B747-8F aircraft – named Inspire – from Chicago to Hong Kong.According to K+N, it took four people, three pieces of machinery and ...
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News
US SMEs explore nearshoring to avoid supply chain disruption
US small- and medium-sized enterprises (SMEs) are moving their supply chains closer to their home market at a faster rate than predicted to help minimise supply chain disruption.A survey from Gartner-owned consultant Capterra shows that 88% of the 300 SMEs surveyed plan or are currently in the process of switching ...
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Insights
AfA optimistic US air cargo industry can ride out a recession
A global recession looms ahead but air cargo setbacks look set to be short-lived, writes Airforwarders Association (AfA) executive director Brandon Fried.The recent half-point raising of interest rates by the US Federal Reserve signals that inflation still lingers within the American economy as the likelihood of a global recession seems ...