Panalpina and the NYK Group have agreed to changes in the level of their current cooperation in Japan with Panalpina Japan taking over control of its air and ocean freight operations with effect from January 2010. In line with an earlier agreement, Panalpina will continue to represent the NYK subsidiary Yusen Air and Sea Service interests in various countries. YAS will continue to provide services in Japan as a subcontractor for Panalpina. In February 2007, Panalpina appointed the NYK … [Read more...] about Panalpina takes over own ops in Japan
Logistics
Wallenborn Transports acquires Rutges Cargo
Wallenborn Transports, a leading European supplier of logistics in road feeder transportations, air cargo distribution and related services with home base in Luxembourg has acquired Amsterdam-based air cargo distribution specialist, Rutges Cargo. Rutges Cargo, which provides logistics for road transport and warehousing for the high value and perishable cargo sectors, has a particularly strong position in Northern Europe including the Benelux and UK, Wallenborn said in a statement. … [Read more...] about Wallenborn Transports acquires Rutges Cargo
Innovation and quality pay off for Aramex
Aramex’s founder, Fadi Ghandour put it directly: “While the global economic slowdown continued to affect our revenue growth in this period (revenues fell by eight per cent), we maintained focus on operational cost efficiency and customisation capabilities to better adapt to customers’ changing business needs. This has enabled us to further improve our gross profit margins, control costs, and report an excellent netincome growth.†He went on to add that Aramex … [Read more...] about Innovation and quality pay off for Aramex
Datamonitor: Positive economic signs a start
Positive economic indicators coming out of Europe, Asia and the US over the last ten days give reason to forecast a recovery in the global logistics and express industry. However, for global freight and parcel volumes and revenues to rebound significantly there will need to be major improvements in consumer confidence, industrial output and subsequent international trade volumes, according to new research by independent market analyst Datamonitor. … [Read more...] about Datamonitor: Positive economic signs a start
H1 revenue falls for Agility, but net profit up 3%
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%
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
