XPO Logistics has completed the first of two phases in its US$3.53 billion acquisition of France's Norbert Dentressangle. Norbert Dentressangle’s founder and his family divested their 67 per cent share of the company to XPO at price of 217.50 euros per share. Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "We're delighted to welcome the customers, employees and suppliers of Norbert Dentressangle to XPO. This combination is an important step in the … [Read more...] about XPO acquires Norbert Dentressangle
Express
IATA: Airfreight momentum slows
The International Air Transport Association (IATA) released data for global air freight markets showing a 3.3 per cent increase in cargo volumes (freight tonne kilometers or FTKs) in April 2015 compared to April in the previous year. While there is growth compared to the same month in 2014, there has been no actual growth in aggregated global cargo volumes since late last year. At a regional level, only the Asia-Pacific and Middle Eastern airlines reported growth in April. North American … [Read more...] about IATA: Airfreight momentum slows
ACMG: Market needs 125 new freighters per year
Demand for freighter aircraft continues to trend higher, according to a newly-released forecast issued by the Air Cargo Management Group (ACMG). According the ACMG, the air freight market will need about 125 new freighters per year to meet growth and replacement needs over the next 20 years in a ‘baseline-growth; scenario, which is based on 4.5 per cent annual growth in demand. This compares to the 95 freighters (production units and passenger-to-freighter conversions) added per year … [Read more...] about ACMG: Market needs 125 new freighters per year
DB Schenker opens ‘futuristic’ terminal in Finland
DB Schenker Logistics has opened one of its largest and most modern terminals in Finland. The new location, near the capital of Helsinki, represents one of the largest investments that DB Schenker has made worldwide at 57 million euros. Karl-Friedrich Rausch, CEO and chairman of the board of management, Schenker AG. “Combining four locations and operations such as land transport, air, and sea freight in one building will improve our efficiency and productivity, and streamline our cargo … [Read more...] about DB Schenker opens ‘futuristic’ terminal in Finland
FAA fines FedEx for hazmat violations
The US Department of Transportation’s Federal Aviation Administration (FAA) has fined FedEx Corp. US$58,600 for allegedly violating Hazardous Materials Regulations. The FAA alleges FedEx in June 2014 accepted a box containing 1.7 liters of flammable liquid for air transportation that lacked the proper shipping name of the hazardous materials, the agency alleges. The FAA further alleges that in August 2014, FedEx accepted a hazardous materials shipment consisting of two pounds of … [Read more...] about FAA fines FedEx for hazmat violations
Forwarders more upbeat about airfreight than sea
The Stifel Logistics Confidence Index for May indicated some improvements from April’s decline. In particular, the six-month outlook appears bright as airfreight gained 2.8 points to 63.4 and sea freight increased 2.1 points to 62.9. Overall, the total index increased 1.1 points to 57.4. Even though this is down 0.6 points from one year ago, it is still 6.7 points higher than May 2013. Airfreight continues to lead the optimism for both the six-month outlook as well as for the … [Read more...] about Forwarders more upbeat about airfreight than sea