Volga-Dnepr Group’s cross-border cooperation with Cainiao reveals long-term ambitions at Liège

Cainiao, the logistics arm of e-commerce giant Alibaba, has named Volga-Dnepr Group its “preferred carrier for airlift capacity and logistics services” and will be granted “guaranteed access” to the Russia-based conglomerate’s fleet of forty-one aircraft, according to a joint release detailing a recently signed MoU between the two companies. For the Group and its cargo […]

CEVA Logistics acquires CMA CGM Log

CEVA Logistics is acquiring CMA CGM Log as part of a move to strengthen the forwarder’s foothold in sea freight forwarding and grow volumes, which last year totaled 760,000 TEU. Following the acquisition, valued at US$105 million, CEVA intends to remain as an independently listed company.

B&H Worldwide opens Singapore FSL for FL Technics

The UK-based aerospace logistics firm B&H Worldwide is opening a new Forward Stocking Location (FSL) on behalf of FL Technics in the Airport Logistics Park of Singapore (ALPS) Free Trade Zone at Changi Airport (SIN). Lithuania-based FL Technics is a global provider of MRO services and operates more than thirty subsidiaries globally. It is a […]

K+N flies high as first-quarter air freight volume surges

Switzerland-based forwarder and logistics services provider Kuehne + Nagel reported first-quarter 2018 net income up 11.5% y-o-y to US$191 million, as gross profit (what some forwarders call net revenue) rose 11.8% to $1.92 billion. Operating income (EBIT) for the quarter was up 12.9% to $245 million. All three of the company’s forwarding divisions (Airfreight, Seafreight, […]

Expeditors flies high!

US-based forwarder and logistics services provider Expeditors International reported fourth-quarter net income up 51.2% y-o-y to $168 million, as net revenue increased 14.6% to $629 million. Operating income for the quarter was up 15.6% to $199 million. At first glance, the more than 50% increase in profit looks odd, but the quarter’s net income included […]

Expeditors flies high in 3Q17

For what seemed like forever, US-based forwarder Expeditors reliably produced financial and operating results that were the envy of the industry. In fact, it is not much of a stretch to say that Expeditors’ margins would be the enviable in just about any industry. But last year, a bit of the shine came off. Despite […]

A tale of two (Swiss) forwarders

Switzerland-based forwarding and logistics giants Kuehne+Nagel and Panalpina posted their third quarter results this week, and while the companies may be geographically close, their results are not close at all. Detailed third-quarter and year-to-date results for both K+N and Panalpina are shown in the charts at right, but here are a few comparisons from the […]

Air freight success boosts K+N’s second quarter

Switzerland-based forwarder and logistics services provider Kuehne + Nagel reported second-quarter net income up 2.1%, as gross profit (what some forwarders call net revenue) rose 3.9% to US$1.81 billion. EBIT for the quarter was up 2.1% to $200 million. These low-single-digit financial numbers hide the fact that K+N’s Airfreight and Seafreight business units turned in […]
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