CEVA opens new global headquarters in Marseille

The Swiss forwarder CEVA Logistics opened its new global headquarters in Marseille on Nov. 14. The new location is adjacent to the headquarters of French seafreight firm CMA CGM, which began its corporate governance of CEVA this year. CEVA struggled throughout 2018 and earlier, with declining air export volumes and net losses reported for multiple […]

CEVA Logistics expands operations with new Sri Lanka office 

CEVA Logistics opened its new CEVA Sri Lanka office in Colombo, today. The new location contributes to CEVA Logistics’ broader expansion of its presence across Asia and is aimed at providing service to clients living in the island nation and the Maldives.  According to CEVA, its new office is located in a Free Trade Zone and will offer multi-modal […]

CEVA begins new era under CMA CGM with Q1 drop in air volume

Following yesterday’s annual general meeting, CEVA reported its first-quarter results today, showing a 6.9% drop on air cargo volumes, compared to the previous first quarter, plus several corporate structure changes as French seafreight firm CMA CGM begins its governance over the Swiss 3PL. For Q1 of 2019, CEVA said the dip in the air segment […]

CEVA reduces debt, confirms drop in net earnings for Q4

Earlier this month, when Swiss 3PL CEVA Logistics released its preliminary results for 2018, it touted its reduction in debt and its potential growth prospects for 2019. Today, as it released its official fourth-quarter and full-year performance figures, CEVA official retained their optimism, but, like several other logistics firms, reported double-digit losses on fourth-quarter earnings […]

CEVA’s preliminary results for 2018 point to future growth, reduced debt

Calling 2018 a year rocked by “structural changes” and activity to deleverage debt, CEVA Logistics AG released preliminary results on Monday for the year ended Dec. 31, 2018, suggesting that revenues grew during the year, albeit not quite as strongly as the revenues from the previous year. CEVA’s full 2018 results are not expected to […]

Panalpina’s largest shareholder rejects DSV takeover bid

Today, Panalpina’s largest shareholder, the Ernst Göhner Foundation, said it does not support the non-binding proposal from Denmark-based rival DSV to purchase the Swiss forwarding giant. About two weeks ago, Panalpina’s board said that “according to its fiduciary duties,” it would review the proposal with its professional advisers. The offer, which was released on Jan. […]

8 executive moves that will impact air cargo in 2019

It’s a new dawn, it’s a new day… It’s a new CEO? Now that 2019 has arrived, Air Cargo World is looking back one more time to see which of the recent executive moves in 2018 will likely have the greatest impact on the transformation of airfreight logistics in the new year. While some of […]

CEVA Logistics sends successful ‘TIR’ truck from China to Europe

The original “Silk Road” between China and Europe is hardly a new form of overland travel, but CEVA Logistics Greater China is reconsidering the ancient trade route as an alternate mode of long-haul cargo transport that may be competitive to rail, ocean and even airfreight. On Monday, CEVA completed a trial run of its first […]

CEVA Logistics acquires CMA CGM Log in new strategic plan

While CEVA Logistics will continue to handle airfreight, the global company made a strong commitment to the seafreight sector in its revised plan for 2021, which details its new strategy. The new plan followed the release of its third quarter 2018 results two weeks ago, which showed drastic year-over-year decreases in the company’s operating income. […]

CEVA Logistics sinks further into red in Q3

CEVA Logistics’ most recent financial results show that the company’s struggle to break out of a pattern of net losses has continued in its third quarter of 2018. Its year-over-year operating income recessed 250 percent from a positive US$22 million to a $14 million loss over the three-month period and its profit/loss figure, which includes […]

DSV rescinds second offer to acquire CEVA before CEVA can respond

Today, Danish logistics company DSV has rescinded its second offer to acquire CEVA Logistics before it ever received a response from CEVA. “Based on the unwillingness of the board of directors of CEVA to engage directly with DSV at the price per share offered,” DSV said in a statement that the offer had been withdrawn. […]

CEVA board rejects takeover bid from DSV as ‘inadequate’

Yesterday, after Danish logistics firm DSV made an unsolicited, non-binding acquisition bid to CEVA Logistics AG, the CEVA board of directors unanimously rejected the offer of roughly US$28 per share in cash, saying that the bid – totaling about $1.5 billion – was “not in the best interest of the company and its shareholders.” The […]

CEVA Logistics completes phase one of Rolls-Royce aero logistics project

CEVA Logistics has completed the first phase of its aero logistics project with client Rolls-Royce, establishing three app-integrated hubs or “supply chain control towers” in Ashby-de-la-Zouch, U.K., Singapore and Jacksonville, U.S. The logistics company currently moves more than 1,200 shipments per week – from small parcels to out-of-gauge loads – for the company each week, […]
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