UPS has announced that it has entered into a definitive purchase agreement to acquire Coyote Logistics, a technologydriven, non-asset based truckload freight brokerage company for US$1.8 billion from its current owner Warburg Pincus. The US express and logistics giant said it expected to close the deal within 30 days to acquire Coyote, which was founded in 2006 and reported annual revenue of $2.1 billion in 2014. David Abney, UPS CEO said: “The brokered full-truckload freight segment is a … [Read more...] about UPS confirms $1.8 billion Coyote acquisition

Xiamen Airlines has awarded a new three-year road feeder services contract to Jan de Rijk Logistics, extending its delivery network to over 100 airports across Europe. The new agreement enables the airline to offer a wide choice of destinations to customers, moving shipments on its flights between Europe and Asia. As of 26 July, Xiamen Airlines will start flying three times a week from Xiamen to Amsterdam Xiamen Airlines’ general manager of cargo, Gaorong Yang said: “Supported by Jan de Rijk … [Read more...] about Xiamen awards road feeder contract to Jan de Rijk

UPS Worldwide Express Freight is expanding its global express freight service, adding eight origin and five destination countries for time-sensitive, high-value heavyweight shipments. This brings the total number of origin and destination countries and territories served by UPS Worldwide Express Freight to 58 and 56, respectively, UPS said. In January, UPS added 12 origin and nine destination countries to its express freight service and since its 2013 launch, the service has enjoyed … [Read more...] about UPS expands global heavy freight service

CEVA Logistics has announced the opening of a global distribution centre for industrial spare parts, consisting of warehousing space of 12,000 sqm and a yard of 10,000 sqm in Born, the Netherlands. Centrally located in Europe, ideal for European distribution, CEVA will send a variety of parts to end customers and also to replenish local distribution centres worldwide. The site is located within an industrial estate, which has excellent transport links to both air and ocean ports, and road, … [Read more...] about CEVA opens parts centre in the Netherlands

UPS has announced an addition to its China-to-Europe rail shipments as the new modal option continues to gather steam as a both a reliable and viable addition, or alternative, to ocean shipping and air freight. UPS’ Less-than-Container Load (LCL) service offering is available from Zhengzhou to Hamburg and becomes part of the UPS Preferred multimodal freight services portfolio. UPS established a Full Container Load (FCL) solution for China-to- Europe in June 2014. Full Container Load solutions … [Read more...] about UPS adds LCL to its China-Euro rail option

Kuehne + Nagel reported “excellent performance” in the air freight sector for the first half of 2015, which helped the global logistics giant to post a 4.2 per cent rise in net earnings for the period to CHF 326 million (US$341.5 million), compared to the same period in 2014. This was despite a negative currency impact of 7.3 per cent, the group said, while noting that revenue fell 3.2 per cent compared with the first half of 2014, to CHF 8.23 billion. Commenting on the results, Detlef … [Read more...] about K+N sees strong profitability despite currency hit