Financial footings

Supply chain radar: Hapag-Lloyd – once near death, now closer to financial heaven

It has been a very long journey ever since Hapag-Lloyd, almost bankrupt a decade ago, delivered a very solid quarterly performance – which joyfully was revealed today with its first-quarter (Q1) release, partly thanks to the bean counters and new accounting standards.
Vertical risk
Unequivocally, if you listen to the bulls in the wake of a stunning Q1 on paper, it can now comfortably sit at the table with the other four …

The post Supply chain radar: Hapag-Lloyd – once near death, now closer to...

https://theloadstar.com/supply-chain-radar-hapag-lloyd-once-near-death-now-closer-to-financial-heaven/

Supply chain radar: Drum rolls for DHL Global Forwarding

DHL Global Forwarding, Freight (DGFF)’s interim results are out on Friday, and given the feedback I have received from my trade sources, I can comfortably say that seldom in the recent past have we so eagerly awaited a trading update from the air freight market leader and Kuehne + Nagel’s closet rival in ocean freight*.
After a typical one-month quiet period, DGFF has the opportunity this week to deliver its best …

The post Supply chain radar: Drum rolls for DHL Global Forwarding appeared first...

https://theloadstar.com/supply-chain-radar-drum-rolls-for-dhl-global-forwarding/

Supply chain radar: Cosco Shipping Holdings – when solid financials mean nothing

Figure the excitement.
After a long wait, I thought, the first-quarter trading update recently released by China’s Cosco Shipping Holdings would show the full extent of the changes the company has gone through in the past year or so, mainly thanks to the consolidation of Orient Overseas International Lines (OOIL) and its container shipping unit, OOCL, as well as a few other side corporate events.
Yeah, right.
Why bother? 
Does Cosco look any better …

The post Supply chain radar: Cosco Shipping...

https://theloadstar.com/supply-chain-radar-cosco-shipping-holdings-when-solid-financials-mean-nothing/

Supply chain radar: Showdown time looms for DSV – so what gives?

After months of frantic negotiations, deal talk and speculation, we’ll find out tomorrow how challenging the first 13 weeks of 2019 really were for DSV, the king of logistics M&A in the first quarter.
Following the trading updates of Swiss companies Panalpina, its new partner, and Kuehne + Nagel in the past two weeks, here are some numbers to watch when the first-quarter (Q1) trading update of the Danish 3PL is released on …

The post Supply chain radar: Showdown time looms for DSV – so what...

https://theloadstar.com/supply-chain-radar-showdown-time-looms-for-dsv-so-what-gives/

Analysis: K+N – the ATM that keeps giving… to its owner  

Growth is Kuehne + Nagel’s obsession, as the executive team of the Swiss 3PL often reminds us.
However, look at what a lack of discipline chasing growth has meant in the past 10 years or so in terms of shareholder value. 
2007
Before the credit crunch in October 2007, just about one year before Lehman Brothers collapsed, with 120m shares outstanding – which is bang in line with its current share count – K+N stock hit a then-record of Sfr124 a share.  
That …

The post Analysis: K+N – the ATM that...

https://theloadstar.com/analysis-kn-the-atm-that-keeps-giving-to-its-owner/

Supply Chain & Freight the star performer as UPS reports a strong final quarter

UPS reported strong fourth-quarter results as it celebrated a strategy embracing SMEs and improved use of technology. 
Q4 revenue reached $19.8bn, up from $18.9bn a year earlier, and on an adjusted basis, net income was $1.6bn, up from $1bn last year.  
The operator said the supply chain and freight business units “demonstrated continued growth as the result of greater alignment with small and medium-sized customers”
It added: “Coyote, brokerage and international air and …

The post Supply Chain...

https://theloadstar.co.uk/supply-chain-freight-the-star-performer-as-ups-reports-a-strong-final-quarter/

Analysis: DSV + Panalpina – from Basel to the sleeping tiger of logistics disruption

With investment bank UBS coordinating the meetings, of course, talk of a Monday DSV+PAN announcement has already begun.
Emotions are running high in secret rooms in Basel – a little town in the Alps on the French-German border, where a pint of lager costs almost 10 quid, and a “Double Whopper” at Burger King is twice as expensive as in London’s Leicester Square.
That might be the reason why, I thought initially, on Tuesday night, Panalpina …

The post Analysis: DSV + Panalpina – from Basel to the...

https://theloadstar.co.uk/analysis-dsv-pan-from-basel-to-the-sleeping-tiger-of-logistics-disruption/

Analysis: supply chain slowdown could turn into a horror movie for the star players

“The only way around is through” – Robert Frost
A global recession could be just around the corner, we have often been warned in the past nine and a half years – so should we begin preparing for a worst-case scenario to transpire as soon as 2019?
Equally, how should we prepare for a supply chain meltdown if worldwide trades slow materially and margins come under more pressure?
Horror movie
The odds are short …

The post Analysis: supply chain slowdown could turn into a horror movie for the star...

https://theloadstar.co.uk/analysis-supply-chain-slowdown-turn-horror-movie-star-players/

Analysis: can Kuehne + Nagel really be eyeing a Panalpina takeover?

The idea that Panalpina “has to go sooner rather than later” is growing in popularity among my sources, notwithstanding public remarks made by Kuehne + Nagel management on Friday and Panalpina on Sunday.
However, beware the hype. I may very well be wrong, but I doubt K+N has any serious intention to take over its smaller domestic rival in its current form, although the ousting of chairman Peter Ulber could trigger …

The post Analysis: can Kuehne + Nagel really be eyeing a Panalpina takeover?...

https://theloadstar.co.uk/analysis-can-kuehne-nagel-really-eyeing-panalpina-takeover/

Supply Chain Radar: after trouble for CEVA & XPO, how exposed is K+N’s portfolio of clients?

Swiss transport behemoth Kuehne + Nagel is often named by sources concerned with counter-party risk – and the damage it could bring. Which, after the impact of problematic clients on the financials of XPO Logistics and CEVA Logistics in Q3, is no trivial matter.
XPO stays bullish, despite a $15m hit from a client bankruptcy, which forced it to opt for a more conservative guidance for key financial metrics, that so far have determined …

The post Supply Chain Radar: after trouble for CEVA & XPO,...

https://theloadstar.co.uk/ceva-xpo-exposed-credit-risk-kns-portfolio-clients/

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