ocean freight forwarder

Radiant Logistics seeing high demand from every industry

Robust environment allows Radiant to pursue cash deployment initiatives

Radiant Logistics again announced record quarterly results during its fiscal first quarter ended Sept. 30. The third-party logistics provider reported 21 cents in adjusted earnings per share, 11 cents better than consensus and 8 cents higher year-over-year.

Every vertical Radiant (NYSE: RLGT) serves, other than the cruise line industry, is seeing significantly higher-than-normal demand.

“Everything is a firefight right now and what traditionally were easy moves [international air and ocean...

https://www.freightwaves.com/news/radiant-logistics-seeing-high-demand-from-every-industry

Unique Logistics public offering to net at least $35.5M

Unique Logistics files for public offering

Third-party logistics provider Unique Logistics filed Tuesday for a public offering with an estimated deal size of $41 million, according to IPO Pro. Pricing terms of the transaction were not disclosed but the company said it expects to receive net proceeds of $35.5 million without the benefit of a customary 15% over-allotment option.

New York-based Unique Logistics (OTC: UNQL) currently trades over the counter with a market cap of $22.9 million. The proceeds from the deal are expected to be...

https://www.freightwaves.com/news/unique-logistics-public-offering-to-net-at-least-355m

Radiant Logistics posts record FQ4 results

Radiant looking at acquisitions again

Third-party logistics provider Radiant Logistics announced record results Thursday after the market close. The Renton, Washington-based company reported adjusted earnings per share of 20 cents, 2 cents higher year-over-year but a penny light of consensus, for its fiscal fourth quarter ended June 30.

On a call with analysts, management said demand has returned in all of the verticals it serves except for the cruise line industry. Pressed about the emergence of the delta variant and a recent...

https://www.freightwaves.com/news/radiant-logistics-posts-record-fq4-results

Forwarder JAS Worldwide announces 4th acquisition in past year

JAS Worldwide's looks to integrate recent acquisitions

Global freight forwarder JAS Worldwide announced it has entered into an agreement to acquire the forwarding, logistics and supply chain management unit of Greencarrier Group.

Founded in 2000, Gothenburg, Sweden-based Greencarrier Freight Services International provides sustainable logistics solutions through 11 offices on both sides of the Baltic Sea as well as the U.K., Eastern Europe and China. The company’s 950 employees charter freight in all modes of transportation for more than 15,000...

https://www.freightwaves.com/news/forwarder-jas-worldwide-announces-4th-acquisition-in-past-year

Dachser desks help US retailers weather holiday shopping season

Port of Los Angeles

Dachser USA has established desks of logistics professionals to assist retailers with weathering changes in how customers purchase holiday items during the coronavirus pandemic and the disrupted supply chain.

The freight forwarder noted that ocean freight capacity is tightening and landside transport gridlock is already on the horizon as the U.S. heads toward the post-Thanksgiving holiday shopping period at the end of November.

“This is a make-or-break time for some of our customers,” said Guido...

https://www.freightwaves.com/news/dachser-desks-help-us-retailers-weather-holiday-shopping-season

DSV Panalpina CEO: Q3 results beat odds during pandemic

DSV Panalpina

Third-party logistics giant DSV Panalpina (OTCMKTS: DSDVY) reported on Thursday a pretax operating profit of 2.7 billion Danish kroner (DKK) ($428 million) for the third quarter, up from DKK 1.78 billion ($280 million) for the same period last year and despite the supply chain disruptions caused by the coronavirus pandemic.

“Market conditions have been better than anticipated across most of our markets, and at the same time we benefit from efficient cost management,” said Jens Bjørn Andersen,...

https://www.freightwaves.com/news/dsv-panalpina-ceo-q3-results-beat-odds-during-pandemic

Industry groups ready responses to FMC’s ocean carrier pricing review

U.S. Federal Maritime Commission

Freight transportation industry and shipper groups say they are preparing detailed responses to the U.S. Federal Maritime Commission (FMC) review of ocean carrier pricing practices.

The FMC, which announced the notice of inquiry on Wednesday, said it is seeking information from the container-shipping public on alleged attempts by ocean carriers to hold companies financially responsible for transportation services that they did not contract for and may not legally be required to pay.

The FMC said...

https://s29755.pcdn.co/news/industry-groups-ready-responses-to-fmcs-ocean-carrier-pricing-review

3PLs frustrated by ocean service contracted rate upheaval

Federal Maritime Commission

For many U.S. freight forwarders and consolidators moving freight during the coronavirus pandemic, it is as if the container-shipping rates of their initially contracted transport arrangements with the ocean carriers are no longer valid.

The National Customs Brokers and Forwarders Association of America (NCBFAA) has voiced this concern to the U.S. Federal Maritime Commission (FMC) in a recent white paper and asked the agency to launch an investigation. The FMC is tasked with monitoring the...

https://s29755.pcdn.co/news/3pls-frustrated-by-ocean-service-contracted-rate-upheaval

FMC keeps spotlight on ocean forwarder, consolidator concerns

U.S. Federal Maritime Commission

The coronavirus pandemic may have disrupted international supply chains for much of the year, but a top official at the Federal Maritime Commission said his agency has remained vigilant in its responsibility to ensure competition within the U.S. ocean container shipping trades.

“I am pleased to say that, because of advance planning and preparation, the commission has remained fully open and operational throughout these difficult times,” FMC Chairman Michael Khouri told online attendees of the Nat...

https://s29755.pcdn.co/news/fmc-keeps-spotlight-on-ocean-forwarder-consolidator-concerns

E-commerce logistics, airfreight fuel Kerry Logistics’ 1H profit

Kerry Logistics

Kerry Logistics (HKSE: 0636.HK) scored a first-half-year net profit of HK$845 million (US$109 million), up 26% over the same period last year, despite a significant downturn in warehouse business caused by the coronavirus pandemic.

A decline in logistics revenue from operating fewer warehouses in Hong Kong was offset by strong growth in last-mile fulfillment and e-commerce logistics.

Demand for general warehousing and regional distribution centers plummeted this year across Asia with the...

https://s29755.pcdn.co/news/e-commerce-logistics-airfreight-fuel-kerry-logistics-1h-profit

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