Preliminary traffic figures for the month of June released by the Association of Asia Pacific Airlines (AAPA) confirmed softening air cargo markets while international passenger demand continued to grow. The recent moderation in air cargo markets extended into the month of June, with demand in freight tonne kilometre (FTK) terms registering a slight 0.5 per cent decline compared to the same month last year. With offered freight capacity increasing by 2.5 per cent for the month, the average … [Read more...] about Cargo growth remains flat: AAPA
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Toll unveils blueprint for S$228m logistics hub in Singapore
The Toll Group, now a division of Japan Post, has unveiled its blueprint for Toll City – a 100,000 square metre Toll City logistics hub in Singapore. The S$228 million (US$166 million) five-level, ramp-up facility will house state-of-the-art automation systems to improve productivity and operating efficiency for Toll and its customers in Singapore and in the region. The investment by Toll is its first since Japan Post acquired the Australian based logistics and express company in … [Read more...] about Toll unveils blueprint for S$228m logistics hub in Singapore
Air freight rates to remain weak: Drewry
UK-based shipping consultancy Drewry reported its East-West Air Freight Price Index declined by 1.1 points in June to a reading of 88.7, bringing the index down to its lowest level since it was first launched in May 2012. The Index fell fell below the US$2.90 per kg threshold for the first time with Drewry saying it expects pricing to remain week for the next few months. “Whereas the eastbound trans-Pacific has taken the brunt of pricing falls in recent months, June’s decline affected … [Read more...] about Air freight rates to remain weak: Drewry
Stifel Logistics Confidence Index down again
July’s Stifel Logistics Confidence Index, compiled by Transport Intelligence (Ti) slipped for a second consecutive month to 56.4. While it still remains higher than the same periods for 2013 and 2014, concerns over what the six month outlook may bring appears to be weighing on the market. Ti noted that demand appears to be easing off as the IATA director general and CEO noted in a recent IATA press release that business confidence is flat and export orders are in decline. He further noted the … [Read more...] about Stifel Logistics Confidence Index down again
UPS in talks to buy US-based Coyote Logistics
US express delivery company United Parcel Service Inc (UPS) is said to be in talks to buy Chicago-based Coyote Logistics LLC for at least US$1.8 billion, according to a Reuters report quoting a source familiar with negotiations. According to the report, Coyote is backed by Warburg Pincus, the New York-based private equity firm, which may instead opt for an initial public offering as a way to sell its stake in the transportation logistics services provider. Coyote coordinates the movement of … [Read more...] about UPS in talks to buy US-based Coyote Logistics
Panalpina reports stable profits in “challenging environment”
International freight forwarding and logistics company Panalpina has kept profitability stable in the first half of 2015 despite what it said was a "challenging environment". While the group’s gross profit decreased five per cent (adjusted at constant currency rates: +2 per cent) to CHF 736.1 million (US$ 771.7 Million), EBIT and consolidated profit remained stable, reaching CHF 60.4 million (+0.4 per cent; adjusted: +7 per cent) and CHF 45.3 million (+3 per cent; adjusted: +10 per cent), … [Read more...] about Panalpina reports stable profits in “challenging environment”