All Top Story articles – Page 80
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News
CH Robinson third quarter air cargo volumes dip
Multimodal third-party logistics service provider (3PL) CH Robinson saw air cargo volumes within its forwarding unit drop in the third quarter as it grappled with a challenging market.Minnesota, US-headquartered CH Robinson saw its third-quarter (for the period ending September 30) revenue fall by 27.8% year on year to $4.3bn and ...
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NewsHactl welcomes SBTi approval for its emissions targets
Hactl is switching to electric airside vehicles. Image Source: HactlHong Kong Air Cargo Terminals Limited (Hactl), Hong Kong’s biggest independent cargo handler, has received approval from the Science Based Targets initiative’s (SBTi) Target Validation team of its targets on greenhouse gas emissions reduction.SBTi has confirmed that Hactl’s targets comply with ...
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NewsCargojet continues to cut costs as third quarter revenue drops
Ajay Virmani. Photo: CargojetCanada-headquartered freighter operator Cargojet is continuing to cut costs as it reported a drop in third quarter year-on-year revenue.Total revenue for the third quarter of this year (ended September 30) was C$214m, compared to third-quarter 2022 revenue of C$232.7m.Net earnings for the quarter were C$10.5m (with a ...
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NewsDHL holds out against lower volumes in Q3
DHL Group HQ in Bonn. Image Source: DHL GroupA logistics market that is continuing to return to pre-pandemic normality in the wake of the spike in demand seen during the Covid crisis, coupled with an unsettling global geopolitical and economic situation, has impacted DHL Group’s newly released third-quarter financial results.As ...
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NewsFedEx pack an economic punch
Image Source: FedExFedEx Corporation has released its annual Economic Impact Report, a study that assesses the company’s worldwide network and its role in driving innovation over the course of the 2023 fiscal year (defined by FedEx as running from June 1 2022 to May 31 2023).The report is used to ...
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NewsAir cargo outlook: Subdued demand expected in 2024
Source: Air Cargo NewsAir cargo executives are expecting air cargo demand in 2024 to be flat or at best slightly above this year's levels, according to speakers at the Tiaca Executive Summit event.Adopting probably the most positive outlook for air cargo demand in 2024 at the event was data provider ...
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News
Turkish Cargo eyes a fleet of 40 freighters
Turkish Airlines has given more details on its plans to expand its freighter fleet over the coming five- to 10-year period.Speaking at the Tiaca Executive Summit hosted by Brussels Airport, Turkish Airlines chief cargo officer Turhan Özen said the carrier had ambitious plans for its passenger fleet and in line ...
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NewsTower Cold Chain offers Evolution in pharma shipping
Tower Cold Chain Evolution 1600. Image Source: Tower Cold ChainPassive temperature-controlled container supplier Tower Cold Chain has developed an ultra-lightweight product compatible with US and EU pallets.The Evolution 1600 Tower Universal Pallet is said to be suitable for all shipping needs, “meeting industry standards for a truly pan-global ...
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News
E-commerce service providers gearing up for Singles Day
There is likely to be a busy Singles’ Day for the e-commerce sector this year, says London-based online delivery service provider ParcelHero.With money tighter than ever, Singles Day is ideally timed for early-bird Christmas bargain hunters, ParcelHero believes. It said that we should expect a £2bn ($2.46bn) shopping spree this ...
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NewsTough market for Expeditors
Jeffrey Musser of Expeditors. Image Source: ExpeditorsSeattle, Washington State-headquartered logistics giant Expeditors International of Washington, Inc. has announced its third-quarter 2023 financial results.Operating income fell by 59 percent over the same quarter of 2022 to $216m as revenue fell by 50 percent to $2.2bn.Airfreight tonnage volumes were down by 14 ...
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NewsHKIA makes strides on sea-air intermodal logistics park
Artist's impression of the first phase of HKIA Dongguan Logistics Park. Image Source: HKIAAt the end of last month (October), Airport Authority Hong Kong (AAHK) – operator of Hong Kong International Airport (HKIA) – signed an agreement with China’s Dongguan Port Group to establish a joint venture for the development ...
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NewsTAC Index reveals little change in airfreight rates in early November
The BA100 powered by TAC data. Image Source: TACGlobal air freight rates were little changed over the first week of November, according to the latest data from TAC Index.TAC acts as the calculating agent for the Baltic Exchange and it notes that the overall Baltic Air Freight Index (BAI00) was ...
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NewsFourKites report suggests supply chain data not being used effectively
Image Source: FourKitesSupply chain visibility platform provider FourKites has released a report entitled ‘Data-Driven Decisions: Why Many Supply Chains Are Falling Behind’ that suggests fewer than half of US/UK supply chain leaders are leveraging their supply chain data to inform their strategy and 14% aren’t using supply chain data at ...
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NewsUPS completes acquisition of MNX
UPS acquires MNX. Image Source: UPSIn late September, Air Cargo News (ACN) reported on express services giant UPS acquiring time-critical logistics services provider MNX Global Logistics.That deal has now been completed, the acquisition closing on November 2 following the granting of all the required regulatory approvals.Long Beach-headquartered MNX provides services ...
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NewsMixed picture for ATSG
Image Source: Air Transport Services Group, Inc (ATSG)Air Transport Services Group, Inc (ATSG), the US-based provider of medium widebody aircraft leasing, contracted air transportation and related services, has reported consolidated financial results for the third quarter of this year (the period ending September 30).ATSG made revenue of $523m, up 1 ...
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NewsFedEx offers pilots $250,000 to leave ‘overstaffed’ cargo company
Image Source: FedEx ExpressFedEx Express has launched an offer encouraging pilots to move to regional passenger carrier PSA Airlines as direct-entry captains, with the opportunity to flow through to legacy American Airlines. The airlines are sweetening the deal with a $250,000 signing bonus.Details of the offer, which is available to ...
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NewsFinnair Cargo on the up in October
Finnair Cargo A350. Image Source: FinnairFinnair transported a total of 12,550.7 tonnes of cargo in October, up by 27.4 percent year on year (and by 10 percent month on month).Performance in October was boosted by the collaborative arrangement with Qatar Airways (which sees cargo capacity on relevant Finnair flights fully ...
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NewsWCAworld boosts its e-commerce offering
WCAworld, which describes itself as “the world’s largest and most powerful network of independent freight forwarders”, has appointed a new e-commerce director and a new director of its World Parcel Alliance (WPA).Harald Oechsner has joined WCAworld as director – e-commerce and Steve Howard has joined the network as director of ...
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NewsFraport reports record profit, but cargo struggles
Image Source: FraportFraport, the airport operator that operates Germany’s busiest airfreight hub of Frankfurt Airport and also has interests in numerous other air gateways worldwide, has reported all-time high profit revenue, earnings and profit for the third quarter of this year.This record performance boosted an overall strong first nine months ...
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NewsACS expands in Australia and India
At the end of October, aircraft charter broker Air Charter Service (ACS) announced that it had made good progress on its plans to expand in Australia, having increased its team size by half this year.Moreover, ACS said, the company’s Sydney office is preparing for further growth by moving into a ...