Brexit, high costs undercut strong Q1 business at K+N

Increased volumes and turnover failed to offset currency depreciation, undercutting a strong showing at Kuehne + Nagel Group and ultimately pushing EBITDA and earnings growth into the red. For the first three months of 2017, K+N’s EBITDA was US$257 million, just shy of the previous year’s numbers, while earnings also fell by approximately $4 million […]
  • Lewis King
  • April 20, 2017

Air & Sea Logistics business slumps at Dachser despite overall growth

German logistics firm Dachser saw a 3.7 percent increase in road logistics in 2016, with revenue up 3.7 percent year-over-year (y-o-y) to EUR4.3 billion in the division, but the big loser in 2016 was Dachser’ s Air & Sea Logistics sector, where revenues declined 3 percent to EUR1.5 billion. Dachser blamed decreased revenues on low […]
  • Lewis King
  • April 10, 2017

FedEx pushes Trump, U.S. Senate to embrace forward-looking infrastructure [VIDEO]

FedEx has emerged as a vocal, and at times controversial, advocate for global business in recent months. This time around, the company is holding the Trump administration to its promises to improve infrastructure. In his testimony before the U.S. Senate on Tuesday, FedEx Freight CEO Michael L. Ducker lobbied for a modern infrastructure network, to […]
  • Lewis King
  • April 6, 2017

Prénatal extends contract with Geodis, adds e-commerce services

Maternity and child-centric retailer Prénatal has extended its contract with Geodis’ Contract Logistics line of business, extending their e-commerce collaboration until June 2020. Under the terms, Prénatal’s retail and e-commerce stock will be combined and stored in the Geodis’ distribution center in Almere, the Netherlands. Geodis first started working for Prénatal in 2009, handling inventory. […]
  • Lewis King
  • April 3, 2017

Freightos eyes growth with Series B extension funding

With an eye toward scaling up its reach to global levels, online logistics firm Freightos has wrapped up a US$25 million Series B extension round, led by GE Ventures, bringing the company’s total investment funding to $50 million. In addition to growth, the funds also will be used for continued development of the software suite […]
  • Lewis King
  • March 30, 2017

WCA, Alibaba tie-up opens China to SME forwarders

Freight forwarding network WCA is set to collaborate with China’s on cross-border ecommerce shipments in a tie-up that expands Alibaba’s international reach through an additional 6,300 logistics offices of small- and medium-sized enterprise (SME) forwarders on the WCA roster worldwide. In return, WCA forwarders gain access to the Alibaba logistics platform for cross-border e-commerce […]
  • Lewis King
  • January 12, 2017

Yusen opens first Switzerland outpost

Yusen Logistics announced that it is opening a branch office in Switzerland on January 1, 2017. The new, office, located near the Zurich Airport increases the number of outposts in its European network to 78 locations. The operation is the company’s first in Switzerland. The new outpost will offer air and ocean freight services, land […]
  • Lewis King
  • December 15, 2016

WCA eCommerce logistics network surpasses 100 members

After launching a dedicated e-commerce logistics network in mid-October, WCA Ltd. has seen more than 100 logistics companies apply for membership. Called WCA eCommerce, the new network allows member companies to trade directly with each other, to build volumes and to strengthen business ties. In its final form, the network will provide a platform for […]
  • Lewis King
  • November 29, 2016

Forwarders group urges action on Trump infrastructure promises

The coming presidency of Donald J. Trump may still seem like a large, unsettling question mark across the American landscape, but at least one air cargo group is excited about one of his campaign pledges. The Airforwarders Association is holding the incoming Trump Administration to its promise to invest US$1trillion (with a “T”) to “fix […]
  • Lewis King
  • November 15, 2016

Profits flat at CEVA as market share grows

Despite a general rise in the cargo business in the third quarter of 2016 in many regions, Netherlands-based forwarder CEVA reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of US$75 million, down 6.3 percent compared with $80 million in the third quarter of 2015. In constant currency, however, CEVA’s Q3 results were flat […]
  • Lewis King
  • November 14, 2016

FedEx forwarding subsidiary grows in Malaysia

FedEx’s forwarding arm,  FedEx Trade Networks (FTN), announced the opening of a new office in Malaysia in Penang. Located approximately 100 miles north of the capital, Kuala Lumpur, the new FTN office is located in Penang’s central business district, close to the airport and the seaport, as well as the city’s key infrastructure facilities. According […]
  • Lewis King
  • November 11, 2016

Strong Q1 at C.H. Robinson highlights growth in flat market

Overall revenues at C.H. Robinson’s Global Forwarding unit were up 8.3 percent, year-over-year, for the first quarter of 2016, to reach US$878 million, but the airfreight forwarding division’s net revenues suffered a 10.8 percent drop. However, when swelling ocean revenues are taken into account, the company’s combined net profit for Q1 rose 11.7 percent, y-o-y, […]
  • Charles Kauffman
  • April 29, 2016
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