Temperature-controlled products heat up air cargo demand

With news of July being the hottest on record, it seemed fitting that we take a look at temperature-controlled air cargo. Indeed, a number of freight forwarders noted in recent earnings reports that temperature-controlled volumes were a bright spot in an otherwise disappointing first half of the year for air cargo. However, while temperature-controlled products […]

UPS invests in TuSimple autonomous driving company 

UPS’ venture capital arm, UPS Ventures, made a minority stake investment in autonomous driving developer TuSimple, UPS announced today. With this investment, the companies are working together to test self-driving tractor trailers in Arizona.   UPS and TuSimple initiated self-driving tests in May 2019 on a route between Phoenix and Tucson, Arizona. During the tests, UPS provides truckloads of […]

Forwarders’ focus turns to margins in the uncertain global environment

Now that the major freight forwarders have reported their earnings for the first half of 2019, a look at the market finds one of lower airfreight volumes and positive oceanfreight volumes. However, the lesson learned from years past was that volumes do not always equate to profit. Today, the focus is on profits. Simple common […]

DSV grows profit, airfreight volumes during 1H19

Danish forwarder DSV posted revenue and profit growth over the second quarter and first half of 2019, the company said in its interim financial report today. The forwarder also managed to grow its airfreight volumes during the first half, despite challenging global market conditions. DSV’s revenue increased by 3.0% during the second quarter and 5.8% […]

BIFA echoes warning that UK, EU are unprepared for no-deal Brexit

The British International Freight Association (BIFA) has warned of the likely negative impact of the United Kingdom leaving the European Union without an exit deal in place – a so-called no-deal Brexit – since the possibility emerged. The trade association this week released a statement in support of a Confederation of British Industry finding that few companies […]

Flexport files complaint against Western Global, switches to Atlas Air for 747F ops

Air and ocean forwarder Flexport filed a complaint against Western Global Airlines (WGA) in a U.S. District Court in New York, alleging that “service failures” led to the carrier’s inability to meet the contractual obligations of a three-year operational leasing agreement the two parties signed last year. Under the deal, Western Global was to operate a 747-400BCF on behalf of Flexport through March 31, […]

DB Schenker parent reports jump in net financial debt, capex for 1H19

Today, DB Schenker parent, Deutsche Bahn AG, released its preliminary figures for the first half of 2019 that showed a large increase in net financial debt and capital expenditures, and mixed results among its subsidiaries, DB Schenker and DB Cargo.  DB’s net financial debt rose to US$18.3 billion (€25.4 billion) as of June 30, 2019, up […]

Tough market sees Kuehne + Nagel air volumes down, net earnings up 

Reflecting the continued weakness of the airfreight market, first-half results from Kuehne + Nagel showed a 5.8% drop in air cargo volume to 813,000 tonnes, despite a 5.5% rise in gross profit and a modest 2.0% increase in earnings before interest and taxes (EBIT).  Describing the market as “tough,” Kuehne + Nagel said the air unit’s volume […]

Sennder raises $70m in bid to take on antiquated logistics market

Berlin-based ground logistics company Sennder recently secured US$70 million in a Series C funding round led by Lakestar, according to TechCrunch, which estimates that Sennder’s valuation is approximately US$300 million.  Sennder raised a Series B totaling $30 million earlier this spring. The startup intends to carve out a niche in the European logistics market by supporting the operations of “full truck […]

Forwarder EFL commits to Pittsburgh as airport angles for JFK and ORD flights 

Today, Sri-Lanka based freight forwarder EFL announced that it will base its North American Cargo Distribution Center at Pittsburgh International Airport (PIT).    An expanding forwarder presence at the airport is good news for PIT as the airport seeks to leverage its geographic location between the Midwest and Northeast to attract cargo flows currently moving through major hubs like Chicago (ORD) and […]

Sluggish demand from high-yield cargo verticals hits Panalpina in 1H19 

Swiss  forwarding giant Panalpina reported airfreight volumes up 5% year-over-year to 512,000 tonnes for the first half of 2019 as recent acquisitions began to boost turnover.   Despite the higher overall volumes for the first half of the year, airfreight gross profit was 5% lower at US$342 million (CHF 337.2 million), which, Panalpina blamed on lower demand from high-yield verticals, such as automotive. As a result, earnings before interest and taxes (EBIT) for airfreight dropped 28% […]

Cargo Insights: Forwarders face stiff tech, regulatory and economic headwinds

Extinction is often triggered by a change in environmental conditions, which causes species with insufficient adaptive characteristics to perish. Forwarders continue to face a complex environment of changing regulatory requirements, shifts in trade, competitive technology demands and stiff economic headwinds. The challenging nature of the business has left many experts wondering if forwarders can adapt, […]

time:matters expands Sameday Air network to China

Lufthansa Cargo’s time-critical logistics subsidiary time:matters has expanded its Sameday Air network into China for the first time with the addition of stations in Beijing (PEK), Chengdu (CTU), Guangzhou (CAN), Nanjing (NKG), Qingdao (TAO), Shanghai (PVG) and Shenyang (SHE). Customers with urgent shipments will now have access to 157 weekly direct flights between Frankfurt, Munich, […]

DHL Global Trade Barometer predicts air trade contraction

The DHL Global Trade Barometer forecasts for global air trade dropped six points from March to a new index of 49, indicating a slight contraction over the next three months.  Most countries are expected to see air trade decline, with the largest contractions expected in Japan (-11 points) and the U.S. (-8 points). Further declines are expected in India […]
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