International Logistics

Singapore-based Global Logistic Properties Limited (GLP) has completed the acquisition of one of the largest logistics platforms in the U.S. for $8.1 billion.

Freight forwarder Expeditors International saw air freight volume soar in the fourth quarter, reaching a 19 percent year-over-year increase in December, as shippers tried to fly over West Coast port gridlock.

Retailers continue to feel the hangover of West Coast port gridlock that will persist for weeks despite tentative agreement on a coastwide longshore labor contract.

Kuehne+Nagel in 2014 became the largest non-vessel operating common carrier serving the overall U.S. import market, knocking longtime leader Expeditors International out of the top spot, according to PIERS, a sister product of JOC.com within IHS.

Kuehne+Nagel posted a new record result in 2014 driven by a return to profit from its inland division and what it described as dmarket-beating growth in sea and air freight traffic.

Damco’s decline deepened in 2014 as the Maersk Group’s freight forwarding and logistics unit saw ocean and air freight volumes slide in a growing market.

Maersk Group made a record net profit of $5.2 billion in 2014, up 38 percent on the 2013 result and driven by a strong performance by Maersk Line, which reported a profit of $2.3 billion.

Home Depot store in New Jersey
Retailer Home Depot said its import shipments have been delayed by West Coast port delays, but that it has been able to adjust its supply chain to keep stores supplied.

distribution center
Annual costs to operate a hypothetical 500,000-square-foot distribution center with 150 employees could range from $11.3 million to $15 million among U.S. cities surveyed by a national site-selection company.