Logistics

Toll completes BALtrans integration

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Toll Global Forwarding (TGF) has completed the integration of BALtrans Logistics Worldwide and will use the new Asian forwarding and logistics operations as a platform to strengthen the TGF network in the Middle East, South Africa, Europe and North America. Toll Holdings of Australia acquired BALtrans Logistics in early 2008 and completed the re-branding of the company as Toll Global Forwarding on 27 February 2009. … [Read more...] about Toll completes BALtrans integration

Cargo exec says industry kidding itself

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Air cargo management must "strip the veils of illusion from their eyes" in combating the worst recession since the industry began 60 years ago, according to industry stalwart Julian Keeling. Keeling said these illusions included the near obsession with China as the primary engine of growth. They also included offering complicated, expensive supply chain "solutions" to the shipper rather than concentrating on fast, reliable transportation of cargo. "Let's stop adding layers of outside management … [Read more...] about Cargo exec says industry kidding itself

Toll completes BALtrans integration

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Australian international logistics group Toll has announced it has completed the integration of BALtrans, the Hong Kong-based worldwide forwarder/logistics provider it acquired in early 2008. Toll, now one of Asia's leading providers of integrated logistics services, said that with effect 1 March, BALtrans has been rebranded as Toll Global Forwarding (TGF). It said TGF would use the new Asian forwarding and logistics operations as a platform to strengthen the Toll network in the Middle East, … [Read more...] about Toll completes BALtrans integration

K+N considers global job cuts

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Kuehne + Nagel Group (K+N) is reportedly considering 4,500 job cuts following the announcement of modest increases in earnings and revenue for 2008 and expressions of concerns over immediate future business prospects. In its annual results statement released this week, the Switzerland-based global forwarding and logistics provider commented that "for the time being there are no indications that world economy will recover quickly; therefore further volume reductions are expected in all business … [Read more...] about K+N considers global job cuts

TNT reports 60% fall in 4Q profits

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Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, … [Read more...] about TNT reports 60% fall in 4Q profits

Kintetsu profit declines

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Kintetsu World Express, Japan's second-largest international forwarder, said it suffered a drop in profit on a consolidated basis between April and December from a year earlier despite revenue growth. Group operating revenue during the first three quarters of fiscal 2008 totaled Â¥221.634 billion yen (US$2.42 billion), up 4 per cent on-year. But group operating, ordinary and net profits all fell because of repeated hikes in fuel surcharges and a sharp decline in the volume of air cargo volumes … [Read more...] about Kintetsu profit declines