Kerry Logistics’ net profit jumped 26 percent to HK$845 million (US$109 million) in the first six months, compared to the same period last year, despite experiencing a downturn in its warehouse business due to Covid-19. A shortfall in total logistics revenue was attributed to operating fewer warehouses in Hong Kong. As widespread lockdowns resulted to a drop in demand for non-essential products, the Hong Kong-based logistics provider said warehouse operations in Asia have been severely … [Read more...] about Kerry Logistics posts strong H1, backed by airfreight and e-commerce
airfreight
Skyscraping costs to move goods by air set to go even higher
Capacity constraints have driven up rates for international shipments this year whether by sea, air or land, further complicating matters for supply-chain managers dealing with the effects of Covid-19 on their businesses, Bloomberg reports. Limited passenger flights, which handle about half of the world’s airborne cargo, have created a significant reduction in available belly capacity, which has helped drive rates higher despite a decline in demand of about 19%. Air-cargo rates from Hong … [Read more...] about Skyscraping costs to move goods by air set to go even higher
Davies Turner Group secures environmental permit of four UK hubs
UK-based multimodal forwarder Davies Turner Group got its ISO14001:2015 certification for the environmental management system set in four of its regional distribution centres, which will be managed centrally from Davies Turner's headquarters in Coleshill, near Birmingham, confirmed a press release. Selected as the initial sites to implement the international standard in October 2019, three of these freight hubs are operated by its surface freight subsidiary, Davies Turner & Co, whilst … [Read more...] about Davies Turner Group secures environmental permit of four UK hubs
Airline cargo capacity rises faster than demand
IATA says airfreight capacity rose faster than demand in March for the first time in 20 months. Demand rose 1.7 percent year-on-year, a drop of 5.0 percent over February, to produce the slowest growth in 22 months. The increase in global capacity fell to 4.4 percent from 6.3 percent in February. As forecast last month, IATA says the slowdown is due to the end of an inventory restocking cycle coupled with a “softening” of global trade. “We would caution against reading too much into the … [Read more...] about Airline cargo capacity rises faster than demand
Kerry Logistics opens new office in Portugal
(L-R) Gary Wilcock, managing director, Kerry Logistics (Europe), Mário Silva, general manager, Kerry Logistics (Portugal) and Sebastian Bernardo, general manager, Kerry Logistics (Spain) Kerry Logistics has opened a new office in Portugal as part of on-going expansion plans across Europe. Mário Silva, general manager, Kerry Logistics (Portugal), will be heading up the branch, headquartered in Porto, Portugal’s second largest … [Read more...] about Kerry Logistics opens new office in Portugal
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
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