Latest news from Heavy Lift & Project Forwarding International Magazine

Kuehne + Nagel sees earnings grow

October 19 - Kuehne + Nagel reports that its earnings grew in first nine months of 2011 by 1.1 percent despite the softening freight market.

The company saw improved ocean container and air cargo shipments which took earnings to USD508.5 million for the period, contrasting with a 3.8 percent reduction in revenue to USD16.35 billion.

Kuehne + Nagel said operating profit fell 2.4 percent to USD815 million but was 11.5 percent higher than a year ago after adjusting for the strength of the Swiss franc.

"Considering the softening market growth, we are satisfied with our results in the first nine months of 2011. Volatility is high and the fourth quarter is expected to remain challenging," said Reinhard Lange, CEO of Kuehne + Nagel International AG.

With ocean container traffic increasing by 14.5 percent for the period, K + N said that growth was particularly strong outbound from Asia to the Middle East and South America.

In the first nine months, the company said airfreight tonnage increased 14.5 percent with this unit performing well in Europe, South America and North America, while demand in Asia fell.

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 239
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 599
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 626
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 478

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