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 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’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 […]

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 […]