Latest news from Heavy Lift & Project Forwarding International Magazine

Heavy Lift Across the World

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

STS cranes arrive in Charleston thumbnail image

STS cranes arrive in Charleston

October 18 - Three ship-to-shore (STS) cranes have arrived at South Carolina Ports Authority’s (SPCA) Charleston Harbor on ZPMC’s heavy lift vessel Zhen Hua 28.
Views: 177
US Ex-Im Bank signs MoU with Iraq thumbnail image

US Ex-Im Bank signs MoU with Iraq

October 18 - The US Export-Import Bank (Ex-Im) has signed a memorandum of understanding (MoU) with Iraq’s Ministry of Finance aimed at enhancing trade and economic cooperation between the two countries.
Views: 284
Webster appointed at Barnhart thumbnail image

Webster appointed at Barnhart

October 15 - Barnhart Crane & Rigging has appointed David Webster as senior vice president – operations.
Views: 460
Equipment Corps installs exchangers at Syncrude refinery thumbnail image

Equipment Corps installs exchangers at Syncrude refinery

October 14 - Ontario-based Equipment Corps has used four customised Straightpoint wireless load shackles and four JD Neuhaus air hoists to install two new exchangers at the Syncrude refinery in Fort McMurray, Alberta, Canada.
Views: 3174

Heavy Lift Across The World

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