International

Traffic volumes emanating from Turkey are robust

Continental AG is looking to rapidly restructure its workforce and phase out production plants to catch up with new-age mobility options like electric and connected vehicles.

In what appears to be a trend, another transport and logistics company has reported a weak overall year-to-date but with a steeper downward dive in the third quarter. Retail logistics specialist LBC Express revealed a small loss in the third quarter of the year against a background of rising revenues.

Lorenzo Shipping took drastic action to begin stemming its losses. But the emphasis is on “begin”. There’s still a long way to go, as Lorenzo is currently on track for a multi-million dollar loss

Uni-Top expected to restructure

U.K.-based yacht builder Sunseeker is in advanced negotiations with DHL Supply Chain to help with its logistics operations.

Atlantia charges that conditions for investment not met

Shippers believe container line consortia are anti-competitive and lack transparency.

The European Commission believes that container shipping lines need consortia to make “operations more financially viable and efficient.”

Box-port operator Asian Terminals has seen a massive surge in nine-month revenues and profits but it has also witnessed a downturn in the third quarter of 2019.

Fortune has taken a decidedly downward trajectory for Indonesia-focused dry bulk ocean carrier Seroja, which saw a dramatic decrease in profitability in the third quarter of 2019. But that won’t worry the company – it has just agreed to sell its entire business for $32 million.

Canadian firm whose business includes reselling Keeptruckin electronic logging devices and fleet management solutions attempts to avoid bankruptcy after private equity lender seeks repayment of a $3 million loan.

U.S. freight forwarder expands north of the border, tapping into growing volumes of trans-Pacific trade from the Port of Vancouver.

U.K. airport seeks to become Heathrow alternative

Tata Steel is suffering from declining steel demand in Europe, brought about by an economic slowdown and uncertainties revolving the U.K. general elections and Brexit.

The new center at Cologne-Bonn Airport will help meet rising demand for express e-commerce shipments.

Federal minister urges Canadian National and Teamsters to reach agreement as walkout by 3,200 conductors, transpersons and yard workers continues.

COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has big regional expansion plans.

Japanese mafia are in the firing line after a record 400 kilos of cocaine are found in a container in Japan.

Air India schedules investor meetings

The new 40,000-square-meter center is the size of five football fields and has a sorting capacity of 50,000 shipments per hour.

With Soren Toft, Maersk COO just a week ago, poised to become MSC’s new CEO, FreightWaves examines which carrier rules the waves.

A truck parking fees scam has landed former logistics supervisor Chow Chi-yeung, 42, of Hong Kong, with a sentence of 160 hours of community service.

From tiny flaws great economic disasters are born. One such tiny flaw nearly led to an economic disaster in far north Australia. It was only high quality seamanship that averted a months-long salvage at, and blockage of, the Port of Weipa.

Global logistician Agility has reported an increase in its third quarter revenues and a surge in net profit. However, cargo volumes fell. The company boosted its finances through higher yields and a strong contribution from its infrastructure businesses.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Ford’s new electric Mustang will be built in Mexico; Japanese plastic […]

Australia’s unfinished trucking reform business; brake-maker converts creditors into shareholders; toll road operator in big debt reissue; controversial logistics software provider GetSwift fights on

U.S. carrier remains firm with 10% offer

Europol believe Italy’s ‘Ndrangheta mafia is behind the use of Gioia Tauro as a cocaine hub for western Europe.

U.S. poultry producers eye more than $1 billion market potential for China after being shut out for five years.

The shipping grapevine is abuzz with rumors that the man who was Maersk’s COO until Monday (Nov. 11) could soon be leading MSC.

Major trade partners of the EU have complained to the World Trade Organization about the problems with splitting tariff rate quotas between the U.K. and the EU post-Brexit.

Focus on profitability over market share bears fruit for Danish container shipping giant.

India’s largest commercial ports operator, Adani Ports, reported a substantial increase in its company and port-segment revenues. Company and port-segment profits have also markedly increased.

CEO tells FreightWaves the U.S.-China trade war has transformed the trans-Pacific trade and customers are receptive to paying IMO 2020 bills.

Revenues were down, costs were flat, profits were down. It was largely an unhappy first half financial year for Singapore Shipping.

Pan Ocean, a mixed-fleet ocean shipping carrier, reported a double-digit revenue decline but experienced a double digit surge in profits in the third quarter of 2019 when compared to the third quarter in 2018.

In a recent auto awards function in Germany, Elon Musk outlined Tesla’s plans of setting up its fourth Gigafactory in Berlin.

Although air freight prices have been edging upwards, sources suggest the 2019 peak season might be short-lived.

Brexit-driven scramble for supply chain properties continues as Tristan plans $165 million investment in Dutch logistics platform.

It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.

Airline and union reach truce

Latvian airport to double cargo handling capacity

John Lewis will now use carbon-neutral renewable biomethane to power hundreds of its delivery trucks by 2021.

Ocean shipping terminal operator Westports of Port Klang, Malaysia, has reported a surge in third quarter revenues and a jump in profit before tax. Analysts are… less than impressed.

FedEx Express doubles originating network for Asia-Pacific early-AM flights to U.S.

The Deutsche Post DHL Group subsidiary claims its new digital road freight platform is the continent’s first.

Capacity cuts by lines and higher bunker surcharges as IMO 2020 low sulfur fuels are phased in are fueling box freight rate inflation.

Initiative includes boosting air cargo revenue

Singapore stock exchange-listed ship lessor First Ship Lease reported essentially flat revenues for the third quarter of 2019, but it also announced a swing back into profit. A combination of higher revenues and cost cutting delivered the positive result.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Holiday surge increases truck wait times; Truck driver dies during fatal I-10 […]

A spate of deadly trucking-related accidents has taken place around Australia over the last week. Truck rollovers were a major contributor to the death toll. There was also a range of other tragic accidents involving moving vehicles. In other Down Under Trucking news, a criminal trucker gets years in jail for killing another driver; hill descent apps; Freightways buys Big Chill.

Low-cost carrier fended off rivals IAG, Wizz Air and Virgin Atlantic

Carrier moved 27 temperature-controlled containers on single flight

London-based logistics startup tailored to ease e-commerce returns.

Growth from last year’s front loading makes for tough comps, as trade war upsets seasonal patterns.

Uncertainty around trade wars and Brexit have been the biggest drags on air cargo markets this year, but Steven Polmans is an optimist.

All may not necessarily be as it may first seem in the world of company earnings. Dry bulk, ocean container shipping and logistics company Sinotrans (HKEX: 598) may not have delivered a Halloween shocker even though its third quarter results were splattered in red ink all over its income statement. One long-short equities analyst was very bullish on the company’s stock despite the seemingly-poor results!

Airline is first Asian carrier to adopt platform

New service to begin in March 2020

A United Nations report concludes U.S. consumers and Chinese exporters are the primary losers in the trade war. Taiwan, Mexico, Europe and Vietnam are net beneficiaries.

A year after announcing a range of e-trucks for the U.S. market, Volvo Trucks has started selling all-electric models in Europe.

Air cargo shipments may be delayed

COSCO Shipping Energy Transportation (HKEX: 01138; SSE: 600026) has shrugged off U.S. sanctions on subsidiary companies to report a huge jump in revenues and a massive surge in profits.

Cooper Tire & Rubber Co. (NYSE:CTB) recently announced a plan to increase ownership in its joint venture tire plant in Guadalajara, Mexico, from 58% to 100%. The Findlay, Ohio-based company […]

Hamburg Airport has joined a roster of European airports adopting digitalization of cargo handling

Asia-Europe and Asia-U.S. spot freight rates jumped 12-30% last week, but can carriers hold on to the gains?

It’s an income statement of two halves for COSCO Shipping Development, which both leases container ships while also making and leasing ocean shipping boxes. Revenues fell off a cliff. But COSCO Shipping Development was able to protect its bottom line by slashing costs. Profits surged.

Acquisition strengthens IAG’s position in South American market

Transit times of 10-12 days are promised on the new service from DHL Global Forwarding.

Hong Kong Stock Exchange-listed ocean carrier Pacific Basin (HK: 2343) will issue US$175 million (approximately HK$1,371 million) of non-amortizing unsecured convertible bonds to boost its balance sheet while growing and renewing its fleet.

Logistics real estate developer ESR Cayman (HK: 01821) roared into public life on Friday when it floated on the Hong Kong Stock Exchange. It was the second-biggest IPO of the year in Asia.

Ontario Trucking Association lauds crackdown by province’s workers’ compensation agency on companies that skirt payroll deductions by misclassifying drivers. But the OTA calls on Canada’s federal government to do more.

Saudi Aramco, believed to be the world’s largest integrated oil and gas company, has announced it will undergo an IPO on the Saudi Arabian stock exchange.

Commerce secretary says talks on foreign automaker investment in the U.S. may again delay imposition of tariffs on imported vehicles.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Appetite for avocados is fueling violence in Mexico; Hyundai picks Claudia […]

Signs of the impending transition to electric vehicles continue to gather apace. The authorities in the Western Australian City of Fremantle are trialing an electric garbage truck. “So what?” a […]

Royal Schiphol Group may acquire controlling interest in Cargonaut

ItsMyCargo is a German technology startup that is looking to sell software to traditional maritime freight forwarders who can use technology to compete against recently launched digital freight forwarders.

The challenges facing the Danish logistics giant as it integrates Panalpina were evident in its first quarterly results since the $5 billion acquisition.

Warehouse robotics market expanding quickly

“This is a smart move by both Fiat Chrysler and PSA to ensure their companies continue to be viable and relevant as the industry evolves.”

Canadian province will allow producers to exceed limits exclusively for rail shipments to meet higher demand.

Microsoft recently announced a $1.5 million investment in Ciudad Juárez, Mexico, to help expand companies in the manufacturing sector on both sides of the U.S.-Mexico border. The investment is part […]

Cargo revenue down for 3Q and nine months

Ben Thrower writes about the importance of American agriculture – not just to the U.S. population, but to the country’s trade negotiations.

Mitsui OSK Lines (MOL) recorded a major drop in revenues in the first half of its financial year as container earnings fell off a cliff and the U.S.-China trade war took its toll. But MOL was able to limit damage to operating profits.

Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.

Results mainly driven by higher deliveries, a favorable mix and foreign exchange rate development

ElasticRun is an Indian logistics startup that connects convenience stores within specific regions and relays goods between them based on demand and lull times.

Platform addresses lack of delivery options in the Philippines

Tribunal rules $6 billion class action against manufacturers DAF, Daimler/Mercedes, Iveco, MAN and Volvo/Renault can proceed.

French freight technology startup Everoad has forged a strategic partnership with French mass-retailer Groupe Casino to help digitalize its supply chain.

Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.

Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.

Hong Kong Stock Exchange-listed ocean container carrier SITC (HKEX: 01308) has reported increases in its unaudited third-quarter results despite a global trade slowdown and the China-U.S. trade war. SITC’s container revenues and volumes have both increased.

Investment will fund a new facility at DHL Express gateway at Hamilton International Airport to accommodate growing volumes.

Airline’s Pacific and Atlantic routes hardest hit as trade wars continue to take a toll on air freight volumes and yield.

World’s largest shipping line teams up with major customers in test of carbon-neutral fuel.

Cargo drone provider to launch logistics network to “elevate intermodal connectivity” at Edmonton International Airport and grow revenue.