Kuehne + Nagel

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

Las tarifas de transporte de contenedores no caen en picado, sino que descienden “ordenadamente 

A photo of a container ship; rates remain high

Hay un viejo dicho marítimo griego que dice: “Noventa y ocho petroleros y 101 cargas, boom. Noventa y ocho cargas y 101 petroleros, quiebra”. Esto no se traduce tan bien en el transporte marítimo de contenedores de hoy en día, porque el sector consolidado de las líneas regulares gestiona el número de buques en servicio mucho mejor que el fragmentado negocio de los petroleros. 

Las tarifas al contado de los petroleros pueden caer violentamente cuando la oferta supera la demanda. Uno de los...

https://www.freightwaves.com/news/las-tarifas-de-transporte-de-contenedores-no-caen-en-picado-sino-que-descienden-ordenadamente

No precipitous plunge in container shipping rates, just ‘orderly’ decline

A photo of a container ship; rates remain high

There’s an old Greek shipping saying that goes: “Ninety-eight tankers and 101 cargoes, boom. Ninety-eight cargoes and 101 tankers, bust.” This doesn’t translate so well into modern-day container shipping because the consolidated liner sector manages the number of ships in service a lot better than the fragmented tanker business.

Tanker spot rates can plunge violently lower when supply exceeds demand. One of the big questions for container shipping has been: Will spot rates plunge precipitously...

https://www.freightwaves.com/news/no-precipitous-plunge-in-container-shipping-rates-just-orderly-decline

Kuehne+Nagel Q2 profits rise 78% on lower shipping volumes

Kuehne + Nagel sign on building

Second-quarter earnings for Kuehne + Nagel, the world’s second-largest logistics provider, underscore how supply chain disruptions that hurt the bottom line of goods’ owners can drive profits as customers seek extra help navigating shipping complexity and uncertainty.

Elevated yields continue to exceed exceptionally high freight transportation and warehousing costs, pushing up revenue 45% to 10.4 billion Swiss francs ($10.9 billion) and operating profit 78% to $1.1 billion versus the 2021 June...

https://www.freightwaves.com/news/kuehne-nagel-q2-profits-rise-78-on-lower-shipping-volumes

Judge rules Kuehne + Nagel’s $1.7M air cargo dispute must be arbitrated

A white cargo jet with blue-and-red LATAM logo. Close up side view of cockpit and front.

A federal judge has ruled a $1.7 million shipping dispute between Kuehne + Nagel, the world’s largest air freight logistics provider, and oil field services giant Baker Hughes must be arbitrated, saying that the contract’s arbitration clause is enforceable under New York law.

Houston-based Baker Hughes sued for compensation after one of its shipments was seized by Brazilian customs authorities because the airline providing the physical transportation failed to provide proof of a pre departure...

https://www.freightwaves.com/news/judge-rules-kuehne-nagels-17m-air-cargo-dispute-must-be-arbitrated

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