Logistics

Q1 profit for Agility amid declining logistics market

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Kuwait-based Agility has reported a 16.4 per cent rise in net profit for the first quarter 2009 over the same period last year despite the slowdown affecting the global economy. Net profit before non-recurring items was KD39.2 million (US$134.8 million). "Going forward, we are proceeding with extreme caution, and will continue to centre our efforts on aggressively managing cost and cash while driving performance. We also continue to scope out game changing opportunities for mergers and … [Read more...] about Q1 profit for Agility amid declining logistics market

TNT reports 58% slide in Q1 net profit

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Netherlands-based TNT has reported a 58 per cent fall in first-quarter net profit on the back of shrinking volumes at its express and mail units, saying the situation was expected to continue through the rest of 2009. TNT chief executive Peter Bakker said trading conditions in the first quarter "continued the trend we saw at the end of 2008 and the beginning of this year", adding that these are "to persist through the rest of the year". Net profit fell to €76 million from € 179 … [Read more...] about TNT reports 58% slide in Q1 net profit

China’s manufacturing gains strength

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The China Purchasing Managers' Index (PMI), seen as a bellwether of manufacturing activity in the country, rose to 53.5 in April from 52.4 in March, according to Reuters. This is the second straight month the index has finished in excess of 50, which indicates an expansion of activity in the manufacturing sector. A reading of below 50 suggests a contraction. The PMI, compiled by the China Federation of Logistics and Purchasing, plummeted to a record low of 38.8 last November. Various sub-indexes … [Read more...] about China’s manufacturing gains strength

China's manufacturing gains strength

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The China Purchasing Managers' Index (PMI), seen as a bellwether of manufacturing activity in the country, rose to 53.5 in April from 52.4 in March, according to Reuters. This is the second straight month the index has finished in excess of 50, which indicates an expansion of activity in the manufacturing sector. A reading of below 50 suggests a contraction. The PMI, compiled by the China Federation of Logistics and Purchasing, plummeted to a record low of 38.8 last November. Various sub-indexes … [Read more...] about China's manufacturing gains strength

Panalpina Q1 profit nose dives 94%

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Swiss logistics group Panalpina reported a 94 per cent drop in first-quarter profit to 1.9 million Swiss francs (US$1.64 million), but said it was on track to reach its cost-cutting goal for 2009 which includes cutting 10 per cent of its workforce. "The massive recession-related global volume decline seen since the end of 2008 has impacted Panalpina on all major trade lanes and had negative effects on the results in the first quarter," said chief executive Monika Ribar. "However, with the … [Read more...] about Panalpina Q1 profit nose dives 94%

Cargo drop stabilised but Swine flu new threat

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A stabilisation of global inventory levels has helped stabilise air freight demand and halted the freefall according to the International Air Transport Association (IATA) as it warned that concerns over a swine flu pandemic could have a significant impact on air traffic. IATA's latest statistics show that air cargo demand has "moved sideways" in the -21 to -24 per cent range since its plunge from -7.9 to -23.2 per cent between October last year and January 2009. Freight demand in March was … [Read more...] about Cargo drop stabilised but Swine flu new threat