US air cargo carrier, Atlas Air Worldwide Holdings Inc. (AAWW) reported sharply higher earnings for the second quarter of 2007 on the corresponding period last year. For the June 30, 2007 quarter, AAWW earned $43.2 million, 304 percent more than in the second quarter of 2006. This included a substantial tax benefi t related to DHL Express’ investment in Polar Air Cargo Worldwide Inc. Revenues for the quarter totalled $370.4 million. The company said in a statement that the results refl … [Read more...] about AMERICA: Atlas Air reports increase in profits
DHL
AMERICA: Descartes acquires Global Freight Exchange
Canada-based logistics solutions provider, Descartes Systems Group has acquired Global Freight Exchange Limited (GF-X), a leading electronic freight booking company in the air cargo industry. The acquisition of UKbased GF-X adds electronic air freight booking capability to Descartes’ Global Logistics Network (GLN), creating a global network capable of managing the entire air cargo shipment life cycle, Descartes said in a statement. Many of the world’s leading carriers and … [Read more...] about AMERICA: Descartes acquires Global Freight Exchange
CHINA: DHL inks Yantian logistics park deal
DHL has a signed letter of intent with Shenzhen freight forwarder Tempus International Logistics Company to jointly operate a new warehouse inside China’s Yantian Bonded Logistics Park. The fi rst phase of the warehouse costs 980 million yuan (US$129.45 million) to build and will cover a fl oor area measuring more than 110,000 square metres. … [Read more...] about CHINA: DHL inks Yantian logistics park deal
Managing the risks of China's air cargo
Despite China’s rapid economic growth, the air cargo sector has proven a bumpy ride for many fi rms, and there’smore turbulence ahead. China’s economy has transformed radically in the past three decades: annual GDP growth has averaged 9% since reforms began in 1978, and in the past fi ve years alone, the value of China’s exports has nearly quadrupled, reaching$1 trillion in 2006. Chinese factories have progressed from supplying worldwide markets with parts and … [Read more...] about Managing the risks of China's air cargo
DHL Express
DHL has announced that Dennis Tan, who was chief fi nancial offi cer, DHL Express Singapore till June 2007, has been appointed as senior vice president and head of global express controlling, DHL Express. He will report to Oliver Gritz, chief fi nancial offi cer, DHL Express and his areas of responsibility include fi nancial reporting & planning, costing and transfer pricing, IT controlling as well as the newly created positions for marketing & sales controlling and ground operations … [Read more...] about DHL Express
Polar Air Cargo
Polar Air Cargo has announced that former DHL executive Randy Clark has been appointed as chief operating offi cer, following DHL Express' recent acquisition of an equity stake in Polar. He was most recently executive vice president of sales - Americas for DHL's Global Customer Solutions organisation. Prior to joining DHL, he was chief operating offi cer for Circle International. His eighteen years of forwarding experience includes senior level sales, operations and logistics positions at … [Read more...] about Polar Air Cargo
