Latest news from Heavy Lift & Project Forwarding International Magazine

Agility revenues up

March 25 - Agility has reported profits of US$526 million in 2008, compared to US$531 million in 2007, while revenue rose 16 percent to US$6.8 billion.

"Even though we began to feel the impact of the global economic crisis in our commercial business in the fourth quarter of 2008 as world trade volumes slowed, Agility was able to achieve strong profits which helped enhance our balance sheet position," said Tarek Sultan, chairman and managing director of Agility, in a statement.

"Agility believes that the ongoing financial crisis has created unique opportunities for forging new partnerships and acquiring assets on the basis of attractive and previously unobtainable business terms."

Mr Sultan further emphasized: "We look to come out of the global downturn stronger than ever. We have an excellent cash position, healthy debt profile, a diversified customer base and an established footprint in the emerging markets that offer the most potential for future growth."

The company said it had cash reserves of US$919 million and debts of US$581 million at the end of 2008, while its asset base grew 6 percent to US$6 billion.

In the project forwarding environment, the company is expecting 2009 to be a good year in China as the major projects are already funded and in progress.

Agility's global integrated logistics division, which accounted for 59 percent of the company's revenue, saw revenue grow at a slightly higher rate17 percentthan the company overall. It's other major division, defence and government services, had revenue growth of 13 percent.

Heavy Lift | News

Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 67
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 69
Penman joins Malin React thumbnail image

Penman joins Malin React

April 22 - Malin Group has named Graham Penman as business unit manager of its recently launched Malin React division.
Views: 198
Big Bend Channel expanded thumbnail image

Big Bend Channel expanded

April 22 - Port Tampa Bay in Florida has completed the USD63 million expansion of the Big Bend Channel, one year ahead of schedule.
Views: 110

Heavy Lift Across The World

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