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Logistics

CMA CGM Acquires 25% Stake in CEVA Logistics

Chennai: Port Wings News Network: CMA CGM, a worldwide leading shipping company, announces it has reached an agreement to acquire an equity stake of nearly 25% of CEVA Logistics AG (“CEVA”), a global leading player in the logistics sector. CMA CGM has committed to subscribe for mandatory convertible securities of CEVA …

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Global Logistics Player Panalpina Improves Profitability

Chennai: Port Wings News Network: In the first three months of 2018, international freight forwarding and logistics company Panalpina improved profitability compared to the same period of last year. Panalpina reported an EBIT of CHF 24.4 million (YTD 2017: CHF 16.4 million) and a consolidated profit of CHF 16.6 million …

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APM Terminals Launches Integrated Cold Chain Solutions in Chennai

Chennai: Port Wings News Network: APM Terminals inaugurated its first state-of-the-art cold storage warehouse in India, which will ensure reliable and stable transport of cargo, including goods such as fish, fruits, medicines, and specialty chemicals, which require strict temperature contol throughout the supply chain. The facilities will provide refrigerated container …

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For Container Freight Stations, Existential Crisis Looms

Chennai: Port Wings News Network: Surging share of direct port delivery (DPD), especially at the Jawaharlal Nehru Port Trust (JNPT), means growth in the container freight station (CFS) industry in India would be facing an existential crisis sooner than later, starting with flatlining of revenues this fiscal. The industry, with …

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Goa to be Developed as Cargo Hub: Minister Suresh Prabhu

New Delhi: Port Wings News Network: Central government in the collaboration with state government and private partners is working on to promote Goa as a tourism destination as well as a cargo hub, Union Minister for Civil Aviation Shri Suresh Prabhu. He was addressing media persons at Dabolim Airport, Goa …

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Air Freight Up 6.8% in February but Protectionist Risks Remain

Chennai: Port Wings News Network: The International Air Transport Association (IATA) released demand growth results for global air freight markets for February 2018 showing a 6.8% increase in demand measured in freight tonne kilometers (FTKs) compared to the same period last year. Adjusting for the potential Lunar New Year distortions …

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AirBridgeCargo Airlines Introduces Scheduled Service At Rickenbacker International Airport

Chennai: Port Wings News Network: AirBridgeCargo Airlines (ABC) will become the fifth world-class freighter operator to provide scheduled service at Rickenbacker International Airport (LCK). The Russia-based company, which is one of the fastest-growing international freight carriers, joins the thriving network of premier logistics service providers at cargo-dedicated Rickenbacker, which is …

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CONCOR Launches Multi Modal Logistic Park at Balli

Mumbai: Port Wings News Network: A Multi Modal Logistics Park at Balli Station near Madgaon in Goa state on Konkan Railway route was inaugurated by CMD Konkan Railway Shri Sanjay Gupta and P K Agarwal, Director, Container Corporation on 28 March 2018. The park has been set up with an …

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Brussels Airlines Enters Into Joint Agreement With Lufthansa Cargo

Chennai: Port Wings News Network: Lufthansa Cargo will market the cargo capacities of Brussels Airlines from 1 September 2018. The networks of both companies complement each other perfectly. Freight customers of both airlines benefit from this: Brussels Airlines customers have access to Lufthansa Cargo’s route network: the largest network with …

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Kerry Logistics Posts 7% Growth in Net Profit in 2017

Chennai: Port Wings News Network: Kerry Logistics Network Limited on 27 March announced the group’s annual results for 2017. Group’s Financial Highlights Turnover increased by 28% to HK$30,788 million (2016: HK$24,036 million) Core operating profit rose by 13% to HK$2,128 million (2016: HK$1,878 million) Core net profit increased by 7% …

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