Forwarding boosts unit operating profit for UPS in Q1

UPS reported first-quarter 2019 net income was down 17.4% year-over-year to $1.11 billion, on revenues that were up slightly (0.3%) at $17.1 billion. Operating profit for the quarter declined 8.3% to $1.39 billion, as the company was hit by forecasted “headwinds” and a series of severe winter storms that impacted the company’s US Domestic segment. […]

Apex Logistics increases Wuhan-Chicago round-trip freighter ops

On Aug. 5, 2018, the inaugural flight of the Wuhan-Chicago-Incheon-Wuhan round-trip flight, arranged by China-based Apex Logistics International Ltd., took off smoothly from Wuhan Tianhe International Airport (WUH).  With this departure, Apex’s charter from Wuhan to Chicago O’Hare (ORD) will now increase from the original three flights per week to six flights per week. This […]
  • Apex
  • September 11, 2018

Poland’s demand for air cargo forwarding projected to grow

Market analysis firm Ken Research published a 100-page outlook report this week on the state of the Polish freight forwarding sector, suggesting that the country will experience strong growth between now and 2022. According to the report, freight forwarding is the largest revenue contributor in Poland’s logistics industry. According to the report, Poland’s major trading […]

E-commerce and cross-border underpin 2017 gains at DHL

The Deutsche Post DHL Group’s emphasis on cross-border package shipment and e-commerce seems to be paying off, with a 7.2 percent increase in FY2017 operating profits, at €3.74 billion. The group’s Post, E-commerce, and Parcel (PeP) division posted the largest profits, contributing €1.5 billion to the total haul. Group revenue was up by 5.4 percent […]

Agility rides demand for infrastructure, contract logistics to strong 2017

Global demand for warehousing and freight forwarding services pushed Agility Logistics’ fourth-quarter net profits up 22.5 percent to US$64.3 million, with Agility CEO Tarek Sultan saying that all the company’s groups had a “critical year.” Full-year earnings saw similar gains, with net profits up 16 percent to $228.4 million. The Kuwait-based 3PL said that it […]

DSV wraps up record 2017, confirms M&A plans

Last year’s capacity crunch in airfreight pushed fourth-quarter operating profits for Denmark-based transport and logistics company DSV up by 28.7 percent, year-over-year, to US$196 million, rounding out the full-year’s group operating profits, before special items, to $801 million, up 42.5 percent, y-o-y. While business certainly picked up last year – growth in airfreight increasing 10.6 […]

Lufthansa leads Series A funding for online freight platform Fleet

Lufthansa Cargo led a US$10 million Series A round of financing in Fleet, an online freight platform startup, with participation from investors, including Hunt Technology Ventures and UPS. Fleet is an online marketplace that matches customers’ demand for freight services with available capacity provided by logistics companies, offering an alternative to the conventional freight-forwarding model. […]

ELEVATE: Freightos announces talks with major carriers to expand dynamic pricing

MIAMI — Decades after dynamic pricing reached the passenger side of aviation, online freight pricing platform Freightos and Air France-KLM (AF-KLM) are offering the service to shippers. At this year’s ELEVATE conference, Freightos CEO Zvi Schreiber announced that his company was in talks with other carriers to expand the pricing model, with the industry poised […]

‘Lean’ freight startup Gurucargo aims to eliminate middleman from forwarding

An online freight platform from Uruguay is launching its “lean forwarding” model in the United States next month, and going after legacy forwarders’ market share by connecting carriers with importers and exporters. “We’re saving our customers hundreds of thousands of dollars,” said Gurucargo’s co-founder Andres Israel, adding that their model cuts shipping costs by up […]

Demand for airfreight depresses margins at DHL Global Forwarding

Business is booming, but contracted rates are lagging, according to the latest second-quarter numbers at DHL’s forwarding arm. Sustained – and unexpected – demand for airfreight squeezed Q2 2017 profits at DHL Global Forwarding division, as shipping costs moved closer to rates that were locked in well in advance. However, across DHL’s  International Parcel, eCommerce […]

Kuehne + Nagel caps strong first half with major cold-chain acquisitions

Swiss logistics company Kuehne + Nagel is riding the resurgence of airfreight and expanding its volumes across modes, as the company adds thousands of employees and expands its position in the perishables logistics sector with acquisitions in the United States and Kenya. Kuehne + Nagel’s logistics business is booming, especially on the airfreight side, where […]

Purolator International enters U.S. domestic forwarding market

Canadian logistics provider Purolator International has launched an expedited forwarding service for domestic American shipments, putting its extensive forwarding and freight experience into play south of the border in the U.S. freight forwarding market. The service is available for next day, two-day, or three-to-five-day delivery.  For shipments that require a specialized delivery window, Purolator International […]

Expeditors 1Q17: Volume and revenue rise as net income drops

Although Expeditors International of Washington, Inc., transported significantly more air and oceanfreight during 1Q17, compared to 1Q16, Expeditors’ operating margin (operating income as a percentage of net revenue) fell below the company’s 30 percent benchmark, to 28 percent. Of course, most companies would kill for a 28 percent margin, but for Expeditors, falling below 30 […]

WACO forwarders network grows in Silk Road, North America markets

The global freight network for independent forwarders, known as The WACO System, has added three new members in North America and along the Silk Road, increasing its representation in two major overland transportation markets.       Canada-based ITN Logistics has been added to the organization’s North American roster, while Trans Global Projects (TGP), of Azerbaijan, and ACE […]
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