K+N to manage supply chain for Malaysian oil-and-gas company Petronas

In a move that could have long-term air cargo repercussions, Switzerland-based forwarder Kuehne + Nagel has signed a three-year contract with Malaysia’s government-owned oil-and-gas organization Petronas to manage its supply chain from end-to-end.

Under the deal, K+N will handle such duties as freight forwarding services, logistics management and warehouse operations. The partnership will utilize K+N’s digital services, aligning with Petronas’ digitalization objectives.

Malaysia is the world’s third-largest exporter of liquefied natural gas and the second-largest oil and natural gas producer in Southeast Asia, K+N said in a statement.

Last week, K+N reported positive figures in its first-half results for 2018, which showed its airfreight volume increase of 18 percent over the first half of 2017, to 863,000 tonnes.