Kuehne+Nagel’s third-quarter operating profit grew 9 percent year-over-year as lower costs and a switch to the U.S. ocean container market from the troubled Asia-Europe trade more than offset negative currency movements.
The U.K. has sold its remaining stake in Royal Mail, raising 591.1 million pounds ($910 million) for a 13 percent shareholding and ending the state’s involvement in the 499-year old postal company.
The world's second-largest transport operator is adding more than 41,000 postal codes to its international guaranteed package service, expanding its delivery footprint in Asia and other regions.
Pharmaceutical companies have increased their oceangoing share of shipments. Ocean carriers and cold chain service providers are happy for the business, but the moves have also creased concerns over insurance and liability.
The Egyptian government is being asked to provide more clarity into plans for the development of the Suez Canal Economic Zone (SCZone) as it seeks foreign investment to meet its ambitious goals for the area around the canal.
The Italian government has announced the price of shares for Poste Italiane’s imminent initial public offering, valuing the state-owned mail, logistics and financial services company at up to 9.8 billion euros ($11 billion).
Growth in consumption of fruits, vegetables, meat and fish in emerging and newly industrialized countries should accelerate in the coming years, creating tailwinds for reefer container and specialized reefer operators.
Under XPO, Con-way Freight will offer economy as well as priority service, and XPO will pursue opportunities to leverage trucking networks on both sides of the Atlantic, Jacobs told the JOC Inland Distribution Conference.
Nearly a year after labor stoppages at U.S. West Coast ports burned scores of perishables shippers, the industry’s largest advocacy group refuses to relent in its push for greater transparency in how ports are operated and negotiations with unions are conducted.
After a flurry of acquisitions the past four years, XPO Logistics, the fastest-growing company in trucking and logistics, is going to take a breather to integrate backroom services and take hundreds of millions of dollars of cost out of its operations.