Agility continues to report rising profitability for the first half of 2009, despite the ongoing global economic recession. For the first half of the 2009 fiscal year, Agility saw its revenues decline 9 per cent to KWD 821.0 million (US$2.87 billion) compared with the same period a year earlier, but net profit rose three per cent to KWD 74.9 million. … [Read more...] about H1 revenue falls for Agility, but net profit up 3%
Logistics
Panalpina will not join price war
Presenting its results for the first half of 2009, Swiss-based freight forwarder Panalpina management said the industry is involved in a "cut-throat price war", adding that it would not participate because transport prices were well below cost. Second-quarter profit slumped 68 per cent to 14.6 million Swiss francs (US$13.7 million) on legal costs tied to a corruption investigation in the US and an antitrust probe in Switzerland. Sales fell to 1.36 billion Swiss francs. Panalpina cut the … [Read more...] about Panalpina will not join price war
Agility opens new Malaysian logistics hub
Agility has opened a logistics hub close to Kuala Lumpur, boosting the company's total warehousing capacity in Malaysia to over 34,000 sq. m. The new 13,000 sq. m. facility in Bukit Jelutong, Shah Alam has 12 loading docks and 14,000 pallet positions and dedicated areas for pick and pack, kitting to line operations, consolidation and deconsolidation, cross docking, RMA programs, and reverse logistics. The new facility also includes an office facility of close to 3,000 sq. m, which will become … [Read more...] about Agility opens new Malaysian logistics hub
Apple again tops global Supply Chain Top 25
AMR Research, a US-based research and consultancy firm, has released its annual Supply Chain Top 25 for 2009, identifying what it said are the Fortune Global 500 companies that have best demonstrated leadership in managing global supply chains “built to serve customers with both operational and innovation excellenceâ€Â. The ranking is based on a detailed paradigm that includes both peer and AMR researchopinion. “Since 2004 we have chronicled the emergence of new ideas, like … [Read more...] about Apple again tops global Supply Chain Top 25
K+N profits down 16%, but still in the black
Kuehne + Nagel has announced its net profit fell 16.1 per cent in the second quarter compared with a year ago as the global economic slowdown depressed ocean and air freight traffic. The Swiss logistics giant booked net profit of US$120.7 million in the three months to 30 June as revenue slid 21.9 per cent to $3.9 billion. Net profit in the first six months fell 16.2 per cent to $241 million from the same period in 2008 as revenue shrank 20.6 per cent to $7.9 billion. The Zurich-based … [Read more...] about K+N profits down 16%, but still in the black
Schenker inaugurates new Euro air freight hub
DB Schenker inaugurated its new €50 million European air freight hub at Frankfurt Airport this week, with operations to begin in early August which will see import and export units currently operating at different sites merged into a single unit at the airport. “This European hub is an essential turntable within our international air freight network. It will contribute to expand our position in the global competition,†said member of the Management Board of DB Mobility … [Read more...] about Schenker inaugurates new Euro air freight hub