Kuehne + Nagel

Over 2,400 layoffs hit supply chain-related firms across US

Layoffs continue across the freight and logistics industry, with 2,402 job cuts announced by companies in Arizona, California, Georgia, Illinois, Missouri, Ohio and Texas over the past three weeks.

True Value Co.

Hardware wholesaler True Value Co. filed for Chapter 11 bankruptcy Oct. 14 and plans to sell the majority of its assets to competitor Do it Best for $153 million.

The Chicago-based company operates as a member-owned wholesaler cooperative that sells products to hardware sellers, garden...

https://www.freightwaves.com/news/over-2400-layoffs-hit-supply-chain-related-firms-across-us

Tighter margins for DSV and K+N in 2024 to date

DSV and Kuehne + Nagel, the world’s two largest freight forwarding groups, saw their profit margins squeezed for the first nine months of 2024.

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Martina Li
Asia Correspondent


jQuery(document).ready(function(){ jQuery(‘#dd_23c0ad102fa4a3f559cc8dc758e29f13’).on(‘change’, function() {...

https://container-news.com/tighter-margins-for-dsv-and-kn-in-2024-to-date/

Borderlands Mexico: Kuehne+Nagel expanding in Texas to meet rising manufacturing demand

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Kuehne+Nagel is expanding in Texas to meet rising manufacturing demand; Canadian government opens cross-border trade office in Arizona; China-based automotive supplier opens factory in Aguascalientes, Mexico; and new 500,000-square-foot logistics hub being constructed near Dallas.

Kuehne+Nagel expanding in Texas to meet rising manufacturing demand

Global supply chain...

https://www.freightwaves.com/news/borderlands-mexico-kuehnenagel-expanding-in-texas-to-meet-rising-manufacturing-demand

Kuehne+Nagel opens new automotive spare parts center in Germany

Kuehne+Nagel, a leading logistics provider for the automotive sector, now operates a 170,000m² spare parts fulfilment and delivery centre in Wallersdorf, Germany.

From this location, spare parts are distributed to BMW markets globally. Kuehne+Nagel handles the physical receipt of goods, pre-packaging, management of packaging materials and empties, and loading goods onto shuttles for dispatch to BMW parts distribution locations worldwide.

Additionally, at the Dingolfing and Bruckberg sites,...

https://container-news.com/kuehnenagel-opens-new-automotive-spare-parts-center-in-germany/

Borderlands Mexico: US-Mexico trade in January totaled $64.5B

Mexico cross-border trade is off to a good start in 2024. The country was the United States’ top trading partner in January, with two-way commerce totaling $64.5 billion, according to the most recent data from the Census Bureau.

Mexico’s trade with the U.S. rose 1.1% year over year (y/y) compared to January 2023. Canada ranked No. 2 with $59.7 billion in trade with the U.S. in January, a 3% y/y decrease. China was the third-ranked U.S. trading partner in the month with $47.9 billion in trade, a...

https://www.freightwaves.com/news/borderlands-mexico-us-mexico-trade-in-january-totaled-64-5b

Kuehne+Nagel operating profit cut 50% in 2023

Global logistics powerhouse Kuehne+Nagel suffered substantial revenue and profit erosion in 2023, including the final quarter, as excess air and ocean capacity combined with a post-COVID slow down in trade lowered rate levels, hurting bottom lines across the freight transportation sector.

Executives said they are seeing some stabilization in demand , but don’t expect a huge improvement this year. 

In conjunction with Friday’s quarterly results, Kuehne+Nagel announced an agreement to acquire City...

https://www.freightwaves.com/news/kuehnenagel-operating-profit-cut-50-in-2023

Major maritime companies to develop book and claim approaches aiming to accelerate shipping decarbonisation

Nine key players across the maritime value chain have issued a joint statement expressing their commitment to developing and implementing robust book and claim chain of custody systems to accelerate the early phases of the decarbonisation of the shipping industry.

The signatories of the joint statement are Aspen Shipping Decarbonization Initiative, DHL Global Forwarding, Hapag Lloyd, Kuehne + Nagel, NORDEN, Oldendorff Carriers, ONE, Torvald Klaveness, and Yara Clean Ammonia.

The companies belong...

https://container-news.com/major-maritime-companies-to-develop-book-and-claim-approaches-aiming-to-accelerate-shipping-decarbonisation/

Empresas de transporte marítimo desarrollarán sistema de cadena de custodia y reclamación para la descarbonización

Un sistema de cadena de custodia de libro y reclamación para la descarbonización será desarrollado e implementado por 9 importantes empresas navieras en la industria marítima.

Esta entrada Empresas de transporte marítimo desarrollarán sistema de cadena de custodia y reclamación para la...

https://fullavantenews.com/empresas-de-trnasporte-maritimo-desarrollan-sistema-de-cadena-de-custodia/?lang=es

Big freighter era begins at Birmingham airport in Alabama

An Atlas Air 747-8 jumbo freighter landed at Birmingham-Shuttlesworth International Airport on Sunday, kicking off twice-weekly service from Stuttgart, Germany, controlled by global logistics powerhouse Kuehne+Nagel.

The world’s largest airfreight forwarder in February announced it had leased a cargo warehouse at Birmingham-Shuttlesworth airport (BHM) to establish a freighter hub in the Southeast for its virtual airline operated by Atlas Air and Cargolux. Kuehne+Nagel (CXE: KNIN) will initially...

https://www.freightwaves.com/news/big-freighter-era-begins-at-birmingham-airport-in-alabama

Kuehne+Nagel logistics profit plunges but still 2nd-best quarter ever

Kuehne+Nagel, the largest third-party logistics provider in the world by revenue and the largest air and ocean freight forwarder by volume, said it expected solid growth this year compared to pre-COVID times despite a 43% drop in fourth-quarter operating income as shipping demand sagged.

It also set higher financial targets of operating profit growth of 17% to 19% above 2019 levels and a conversion rate — the ratio of earnings before interest and taxes to gross profit — of 25% to 30% by 2026....

https://www.freightwaves.com/news/kuehne-nagel-logistics-profit-plunges-but-still-2nd-best-quarter-ever

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