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Kuehne+Nagel on Tuesday reported a significant decline in first-quarter revenue and profits&nbsp;as global freight markets continued their rapid descent from the record-high demand and rate levels seen early last year.&nbsp; In what Stefan Paul, CEO of Kuehne+Nagel International,&nbsp;called a “rapid normalization” of the air and ocean markets, the forwarder reported negative developments across all profit and loss lines compared with the same period last year.&nbsp; Revenue declined&nbsp;37 percent year over year to $7.6 billion; earnings before interest, taxes, depreciation, and amortization (EBITDA) was down 39 percent at $903 million; EBIT of $688 million was down 45 percent; and net earnings...

The forwarder’s CFO said ocean freight demand in the second quarter was expected to be much the same as Q1, but there were signs that stockpiling by customers in major markets was nearing an end.

Forwarding

‘Normalizing’ ocean, air markets drag down K+N’s Q1 earnings 

No clear link between slow-steaming, schedule reliability: analyst 

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Slow-steaming has come to the fore of late as ocean carriers seek help in absorbing overcapacity, but analyst Lars Jensen says the common refrain that slower speeds also help to improve schedule reliability doesn’t hold water.

An emerging trend of sending smaller shipments more frequently is leading to growing demand for LCL services across the major trade lanes.

Union Pacific’s launch of direct intermodal service from Houston comes two weeks after competitor BNSF announced it would begin a new service from the port’s Barbours Cut marine terminal.

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No clear link between slow-steaming, schedule reliability: analyst

Weaker ocean rates, China sourcing shift drive rise in LCL shipments

New UP intermodal service from Houston to provide West Coast reach