Latest news from Heavy Lift & Project Forwarding International Magazine

Ups and downs for Agility

August 8 - Despite a drop in revenue, Agility posted a net profit of KWD15 million (USD49.7 million) in the second quarter of 2016 - an 11 percent increase compared with the same period of 2015.

Agility recorded revenue of KWD309 million (USD1.02 billion) in the reporting period, representing a 6 percent year-on-year decrease.

"We started the year on a good note and are sustaining this momentum as the year progresses," claimed Agility ceo Tarek Sultan.

"Within our Global Integrated Logistics (GIL) business, we are making gains even in the face of a challenging freight forwarding market because we have found ways to be more efficient, improve productivity, demonstrate financial discipline and make operations more responsive to the marketplace and customers' needs."

Within its GIL business, revenues dropped 10 percent year-on-year, which Agility attributed to low shipping and fuel rates in the market.

Despite a subdued freight forwarding market, Sultan noted that the company was able to record growth in its air and ocean markets by focusing on products and markets that are growing.

Heavy Lift | News

Zeaborn to take full control of Zeamarine thumbnail image

Zeaborn to take full control of Zeamarine

April 18 - The Zeaborn Group has signed an agreement to acquire the remaining shares in Zeamarine – the joint venture with Intermarine that was established in May 2018.
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Panalpina improves profitability thumbnail image

Panalpina improves profitability

April 18 - In the first three months of 2019, Panalpina boosted its profitability by 15 percent compared to the same period of last year.
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Wallem sets out strategy change thumbnail image

Wallem sets out strategy change

April 18 - Wallem has rebranded its corporate identity to reflect the company’s updated strategy and service offering. 
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