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.

Maritime

Forwarding

Air Cargo

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

ATA urges Congress to reject Su as Labor chief

US chassis lessors learning from pandemic surge as demand wanes 

ILWU shuts down some US West Coast port terminals

FMC ‘improperly’ applied incentive principle in detention decision: Evergreen

Slow demand, rising capacity drags air cargo rates to three-year low 

Arm your team with the most trusted information portal for the international container shipping

Get into a group subscription today

Get full access for 30 days with a free trial!

Start a Free Trial Today

The American Trucking Associations said Julie Su’s track record of supporting California’s A.B. 5 law and a lack of support for the trucking industry has failed to reassure them she would be a successful Secretary of Labor. 

With international rail volume down by double-digit percentages in 2023, chassis providers have an opportunity to reflect on the struggles of 2021 and 2022 and adjust their networks ahead of the next surge.

The ILWU Friday shut down some terminals at West Coast ports after coastwide contract negotiations broke down Thursday because the union and employers are reportedly far apart on wages.

Subscribe now for continued access!

Subscribe Now

Upgrade to a Gold subscription now for premium access!

Upgrade Subscription

Free Trial

Get into a Group Subscription today!

Group Subscriptions

Shippers save money, time with automated transportation bidding tools

An extensive dashboard of charts organized by trade lane, mode, and topic

Gateway

Access all Journal of Commerce produced videos, webcasts, and podcasts

Multimedia Content

A collection of demos and interviews with our TPMTech Partners

Which Tech?

Register now for free access to any Journal of Commerce webcast

On Demand

A must-attend conference for shippers &amp; logistics providers moving goods inland

Attend Inland23

Giving ports new ideas for business opportunities through collaboration

Attend IAPH2023

A premium access outlook critical to shippers and transportation providers

Ports

Supply Chain

Quarterly Intelligence

A premium access index of savings using domestic intermodal vs. OTR&nbsp;

Surface

Intermodal Savings

News and analysis of ocean containerized cargo movement, logistics, supply chains, technology, and end-to-end connectivity

Latest News

More News & Analysis

ATA urges Congress to reject Su as Labor chief

US chassis lessors learning from pandemic surge as demand wanes

ILWU shuts down some US West Coast port terminals