Latest news from Heavy Lift & Project Forwarding International Magazine

Agility posts profits

March 30 - Kuwait headquartered logistics services provider Agility posted a net profit of KD50.84 million (USD169.19 million) for its full financial year 2014 - a 10 percent year-on-year improvement over 2013.

Revenues for FY2014 totaled KD1.36 billion (USD4.53 billion) - down 1 percent over 2013 levels - although earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 6 percent year-on-year to KD99.97 million (USD332.68 million).

Commenting on the results, Tarek Sultan, Agility's vice chairman and ceo, said: "Agility has steadily grown bottom-line profitability across its various business entities over the last three years."

Agility's Global Integrated Logistics (GIL) division reported a 6 percent year-on-year drop in revenues for 2014 of KD1.06 billion (USD3.53 billion), reflecting both general economic volatility and the winding down of major project logistics contracts held by Agility in countries like Australia and Papua New Guinea. 

However, the GIL division's net revenue for FY 2014 was up by 1 percent, while margins expanded from 21.8 percent in 2013 to 23.4 percent in 2014. Continued growth in contract logistics across the Middle East and Asia, in addition to improvements in airfreight yields during 2014, helped to offset margin pressure on the ocean freight side of the business.

In 2014, Agility's infrastructure group of companies saw revenues increase by 18 percent to KD302.90 million (USD1 billion), when compared with previous financial year.

For both sides of the Agility business, Africa will be a key focus for the future. The GIL arm has operational capacity in 11 African countries and is planning to expand further. Meanwhile, Agility's project logistics division has a wealth of experience in serving West Africa's oil and gas industry, said a statement.

Heavy Lift | News

Modulift performs locomotive lift thumbnail image

Modulift performs locomotive lift

May 24 - Modulift has provided equipment to lift a steam locomotive, built in 1926, on behalf of Swanage Railway, a tourist attraction in the UK.
Views: 444
Fesco and RZD team up to link Europe and Asia thumbnail image

Fesco and RZD team up to link Europe and Asia

May 24 - Fesco Transportation Group and Russian Railways Logistics (RZD Logistics) are launching a Trans-Siberian multimodal service to expedite the delivery of goods from Japan to Europe via Russia.
Views: 579
USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
Views: 504
POSH to launch maritime training centre in Taiwan thumbnail image

POSH to launch maritime training centre in Taiwan

May 24 - POSH Kerry Renewables – a joint venture of PACC Offshore Services Holding (POSH) and Kerry TJ Logistics – has signed a memorandum of understanding (MoU) to develop Taiwan’s first specialised maritime training centre. 
Views: 443

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.