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PMI Becomes Majority Shareholder in Swedish Match

Philip Morris International secures 93.11 percent of shares in Swedish Match, bringing it a step closer in achieving its smoke-free goals. Source

Perez-Carrillo and Oliva Team Up for E.P. Carrillo Allegiance

E.P. Carrillo Cigar Co. has announced the fourth release in its Perez-Carrillo Series: the E.P. Carrillo Allegiance. Source

The Rule Breakers: Peter James Co.

How John Laurendi transformed Peter James Co. from an accessory company into a lifestyle brand for the modern cigar enthusiast. Source

PMI Increases HTP Focus on Asia

Philip Morris International (PMI) seems to be increasingly focusing on Asia for its heated tobacco products (HTP) with the global launch of its new HTP in the Philippines and the start of full-scale production… Source

More E-Cig Regulations from China’s STMA

China’s State Tobacco Monopoly Administration (STMA) announced more e-cigarette regulations, now stipulating that the capacity of e-cigarette products, aerosol, and nicotine used in e-cigarettes carried by each person… Source

Thailand Backtracks Cannabis Free-for-All

After becoming the first country in Asia to decriminalize cannabis earlier this year, Thailand is now revising its cannabis rules just five months later. Source

EU to Propose Higher Cigarette Tax and First Bloc-Wide Vape Tax

A draft European Commission revealed that the European Union (EU) may be imposing double excise taxes in member states with low cigarette taxes as well as, for the first time, a bloc-wide vape tax. Source

When Smoking Helps One Run Marathons

A 50-year-old Chinese runner who goes by the name “Uncle Chen” finished the Jiande Marathon in China in 3 hours and 28 minutes, chain-smoking cigarettes the entire time and finishing a respectable 574th out of nearly 1,500 runners. Source

ITGA Report: Tobacco in the Americas

The International Tobacco Growers’ Association (ITGA), with its membership base on five continents, has the unique advantage of always being at the forefront of the crop cycle. Having finally returned to physical gatherings in August 2022… Source

Tobacco Control: There’s No One-Size-Fits-All Solution

Findings from a new report by University of York researchers emphasized what should have been obvious long before this – tobacco control policies, particularly in low– to middle–income countries, should address local needs… Source

EU grant means Dronamics’ green air cargo flights may take off in Q2

Dronamics wins €2.5 million EU grant, and says it can take off in Q2 next year, in the Mediterranean region. Source

Boxship charter market could see a deluge of sub-let surplus tonnage

Containership charter rates have stabilised in the past two weeks but daily hire rates could start to head south again soon. Source

Lufthansa Cargo launches freighter service to Hanoi, doubling capacity to Vietnam

PRESS RELEASE Expansion of the B777F route network in Asia Strengthening presence in the flourishing economic regions of Ho Chi Minh City and Hanoi 250 tons of cargo capacity per week supportsbusinessto andfrom Vietnam Only cargo airline with direct connection to Frankfurt hub Lufthansa Cargo has added Hanoi as a new destination toits global B777F…

DHL Supply Chain develops carbon-neutral warehouses for Europe’s key markets

PRESS RELEASE Real estate portfolio of Grade A, carbon neutral warehouses will support customers’ growth while meeting highest sustainability criteria Warehouses are strategically located to benefit from excellent multi-modal connectivity in proximity to core European logistics markets For the first tranche of warehouses under development, DHL Supply Chain has already entered into a purchase agreement with…

Apple supply chain disrupted by Foxconn protests and more Covid lockdowns

Violent protests have erupted at Foxconn’s iPhone factory in Zhengzhou, prompting renewed concerns over Chinese supply chains. Workers at Apple’s largest iPhone manufacturing hub clashed with hazmat-suited riot police – a protest at Covid restrictions and unpaid wages. Eight districts in Zhengzhou are under a five-day lockdown and Foxconn’s factory has been operating under “closed…

There may be light at the end of the supply chain tunnel of gloom

High inflation, energy costs, and interest rates, and a lack of labour, are the forecasts for 2023, for the logistics industry. Source

Will looming rates war lead to forwarder smash & grab?

The Loadstar’s weekly ocean freight rate analysis, due to be published tomorrow, is likely to show another week of falling prices, as the storm clouds continue to gather over carriers’ heads. Today’s spot rate reading from Drewry’s World Container Index (WCI) shows the global composite spot rate declined another 7% week-on-week – the 39th consecutive…

Truckers blockade S Korean container ports in new strike over wages

Access to South Korea’s two busiest box ports, Busan and Gwangyang, has been blocked, causing container traffic to fall to 40% of normal levels. Source

WiseTech still adamant it will benefit from ‘continued consolidation’ in logistics

Motley Fool wondered why WiseTech (WTC) stock was wilting 5% on Wednesday. But Thursday came, and the casino made more sense, with the shares up 2.6% for the day, confirming lofty trading multiples and bucking a daily fall 24 hours earlier that was explained by some profit-taking around a level, A$55 a share, that screams for…

A squeeze of sweet orange: more flexibility granted to CH Robinson

Given its aggressive capital deployment via dividends and buybacks*, funding flexibility for CH Robinson (CHRW) remains of paramount importance. (*Combined cash outflows: $1bn higher year-on-year to the end of September on expanding cash flows, $858m above the reading for 9M 21.) And… Yesterday, it disclosed in a SEC filing that on Monday 21 November it had amended…

‘War Dog’ Diveroli takes PayCargo to court over ‘lost $100m’

No one could accuse PayCargo of being a dull company; it seems to attract ‘colour’, as the analysts would say. And it’s back in court again. This time, slightly incredibly, the payments company, along with its EVP global expansion, Jason Weber, is being sued by a ‘War Dog’, former arms dealer Efraim Diveroli, who became…

PB: PE hangs in the balance as recession odds grow

PITCHBOOK writes: Slower growth, higher short-term interest rates, tight labor markets—as one economic indicator after another points to an increasingly likely recession in late 2023 or early 2024, the rate of dealmaking in private equity hasn’t shown such signs of weakness. But tougher financing conditions might finally slow down deal activity in coming quarters. Our…

Worker frustration over conditions at air cargo facilities remains on the boil

Yesterday warehouse staff from Swissport’s cargo facility at Chicago O’Hare drew attention to grievances with a publicised formal complaint. Source

K+N takes two 747-8Fs as other forwarders wind down airfreight capacity

Kuehne + Nagel has received the first of its two Atlas Air-operated 747-8Fs, just as other forwarders cut their own controlled networks. Source

New UK deepsea box port would be one of world’s largest tidal-powered schemes

The prospect of a new 1.5m teu deepsea container terminal in the centre of the UK’s east coast is garnering interest from ocean carriers and shortsea services looking for more sustainable port operations. During peaks in demand, the UK’s existing container hubs struggle to cope with larger-than-normal exchanges. In addition, this year industrial action at…

Ship fires increase and climate claims show worrying trend, says Allianz study

The rise in lithium battery usage is causing an increase ship fires, while increasing numbers of insurance claims relate to climate change. Source

EXCLUSIVE: DB Schenker restructures – creates clusters, cuts (country level) fat

‘Don’t despair, hang in there and carry on’ was our mantra on Tuesday. Smile now. Ready to walk a (restructuring) tightrope. Never  We gratefully managed to find more, substantially more in fact, following preliminary ‘Major changes ahead‘ coverage concerning DB Schenker yesterday. At the end of a lengthy conversation, I asked our senior sources: “Have…

Svitzer, unions and Australian government in a three-way tug of war

What to make of the escalating rhetoric between Svitzer, the unions – and now the Australian federal government? And is this just a skirmish in a much bigger battle brewing between the Australian government, unions, and industry? Up ship’s creek As The Loadstar recently reported, Maersk-owned Svitzer, which operates tugboats in every Australian port, threatened…

The US could be about to be dogged by a sniffer shortage

Everything has its own supply chain, even, it seems, sniffer dogs. Prior to the pandemic, US authorities sourced 85%-90% of its sniffer dogs from Europe, largely Germany and the Netherlands – as with everything else that got messed up by Covid, so too was the supply of properly bred and newly trained dogs, according to…

Maersk ‘test case’ could shift balance of power in container shipping

Since the pandemic began, complaints of carrier misdeeds have circulated across the industry and around the globe. In the US, President Biden’s administration decided to try and protect US importers and exporters with the introduction of the Ocean Shipping Reform Act 2022 (OSRA22). The legislation gave new powers to the Federal Maritime Commission (FMC) and,…

‘Vessel orderbook won’t overbalance the market’, claims Cosco GM

Cosco Shipping has sought to calm concerns that the tonnage overhang seen after the 2008 global financial crisis could be repeated. Source

Major shipping lines will pass on cost of compliance with EU’s new emission rules

The major shipping lines say they will pass on the extra costs of compliance with the forthcoming European Union Emissions Trading System (ETS). Alliance partners Maersk Line and MSC have said they would pass on the full cost to customers, estimating this at €90 per tonne of CO2. “We would envisage adding the cost on our…

Air cargo loves a strike, elsewhere, but will US rail shutdown happen?

A US rail strike could lead to an air cargo boom in the domestic UK market, but most believe it won't happen. Source

Europe and US exporters cheer rate falls, but now face ‘vessel pot-luck’

Backhaul container spot rates are experiencing significant drops, although North Europe and US shippers take “pot-luck” when nominating sailings due to the vast number of blanked voyages on the tradelanes. These exporters have endured a challenging two years as imports from Asia dictated ocean carrier strategy. But now the tables have turned, and backhaul shippers…

Crane Worldwide sponsors bedroom at house for families of sick children

PRESS RELEASE Crane Worldwide Logistics has raised funds to sponsor a bedroom at Ronald McDonald House Evelina London in 2023. The Evelina London House, based close to St Thomas’ Hospital in central London, is operated by Ronald McDonald House Charities UK, a charity which provides free ‘home away from home’ accommodation to help ease the…

DB Schenker – ‘Major changes ahead’

If you end up being really disappointed after reading this short note, my heartfelt sympathy is with you – but don’t despair, hang in there and carry on. Precisely my attitude, towards the latest I was given on DB Schenker. The related tip, however scant and sketchy and worth/not worth sharing, I decided was useful to…

The day after: in defence of CHRW Global Forwarding’s top brass

The back and forth on CH Robinson (CHRW) doesn’t subside at our end and with every little add-on, new “colour” worth sharing seems to emerge. Premium sources who have not been impressed with CH Robinson’s Mike Short, have been outspoken but also the flip side, useful background in his defence, strikes us as being crucial.…

As carbon emission rules for ships get tougher, it could trigger modal shift

Experts fear the International Maritime Organization’s carbon intensity indicator (CII) regulation will trigger market changes, including a modal shift from shipping to land, hitting feeder and reefer trades. A collapse in demand as port congestion normalises has reduced shipping rates and incentivised scrapping smaller, older vessels – around 25% of the sub-6,000 teu fleet over…

US rail strike threatens after latest union rejection of compromise deal

US rail customers are faced with another prospect of severe disruption after a fourth labour union voted against the deal. Source

Modal competition on the China-Luxembourg ‘Air Silk Road’ intensifies

Competition is heating up between air and rail for New Silk Road cargo. Last week, for example, China’s Henan province held a conference to promote the ‘Air Silk Road’, between Zhengzhou and Luxembourg, which  has seen rapid cargo growth in recent years. Backed by Henan Aviation Development and Investment Group and Luxembourg’s freighter airline, Cargolux,…

OceanX goes to Mexico! The rates debate has yet to abate

Just back from Mexico City, a trip originally planned for March/April 2020 but delayed by the pandemic. Thus, we are dropping the medals this week in favour of a market report. Following the pandemic and geopolitical shifts, the country has gained greater importance to supply chains. In any concept of “nearshoring” or “friendshoring” of American…

FDA Issues Warning Letters for E-cigarettes Appealing to Youth

The FDA has issued warning letters to several e-cigarette manufacturers accused of making products that are marketed to appeal to youth. Source

New Delhi pushes for rapid sale of 30% of its shares in Concor

India’s government is looking to sell some 30% of its shares in rail operator Container Corp of India (Concor) by the end of this financial year. AP Møller-Maersk (APMM) is being seen as a potential suitor, the Danish conglomerate pursuing an aggressive drive into integrated logistics offerings. Concor, an offshoot of Indian Railways, is the…

Undercrown Dojo Dogma Maduro Celebrates Cigar Dojo 10th Anniversary

Drew Estate is releasing a new limited edition cigar, Undercrown Dojo Dogma Maduro, to celebrate Cigar Dojo's 10th Anniversary. Source

Zim faces redeploying nine box ships as it axes transpacific loop

Zim has suspended its Asia – US east coast ZSE express loop with the last sailing by the 5,936 teu Ian H, which will depart Tanjung Pelepas, this week. Source

Undercrown Dojo Dogma Sun Grown Shipping in December

Drew Estate will begin shipping its 2022 limited edition release of Undercrown Dojo Dogma to Drew Diplomat retailers in December 2022. Source

Forwarder frustration as ro-ro bookings look to be impossible until Q2 23

Bookings for all ro-ro routes from Europe to the Middle and Far East and most to the US are expected to be suspended until at least the second quarter of next year. Carriers are battling too little capacity amid a boost in demand to carry freight. One forwarder said: “Rates are increasing, capacity is at an…

Alec Bradley Begins Shipping Limited Edition “Reclaimed” Sampler

Alec Bradley Cigars has announced that it will begin shipping a limited edition sampler called Reclaimed with seven figurado-shaped cigars. Source

AirBridgeCargo lessors sue insurers over aircraft ‘seized’ and stuck in Russia

Aircraft insurers are being sued in Dublin and London by leasing companies who have been unable to reclaim aircraft now stuck in Russia. Source

MSC Air Cargo exec team take their seats

In a timely piece of reporting, FreightWaves highlighted on Friday that MSC Air Cargo pushed forward the start date for its global freighter service. Air trade specialist Eric Kulisch noted the ocean carrier’s “new airline will have 4 Boeing 777 cargo jets”, as expected leased from Atlas Air and starting from December – instead of January, as earlier…

Zhonggu to target containerised dry bulk to fill fleet of new box ships

Zhonggu Logistics, China’s largest coastal liner operator, wants to attract more containerised dry bulk cargo to boost revenue, as it begins taking delivery of 18  4,600 teu ships ordered last year. The company believes this is “a more feasible” way of boosting revenue as the container freight market continues to weaken. Ranked 18th among liner…

CH Robinson Global Forwarding – it’s a question of leadership

The ‘FedEx of forwarding‘: that’s how CH Robinson (CHRW) has been labelled by a few in our circles, and rightly so, since its appalling Q3 22 update was released to the market at the beginning of the month. From chopping board to power struggle: was 2 November, in fact, the point of maximum pessimism? I…

RTR: Collapsed FTX owes nearly $3.1 billion to top 50 creditors

REUTERS reports: (Reuters) -Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware…

ZH –> Morgan Stanley: These were our key 2023 outlook debates

ZERO HEDGE reports: (By Vishwanath Tirupattur of Morgan Stanley) Our 2023 Outlook – What We Debated This has been our outlook week. We published our year-ahead global economics and strategy outlooks last Sunday, and the more detailed asset class and country-specific outlooks have been streaming out during the week, with more to follow. At Morgan…

Lowe’s & Alibaba on the record – worlds apart, likewise worth a look

Two final calls to highlight this week – both worth the time, in different ways. As far as the exposure to supply chain dynamics, Alibaba (BABA) was unfazed, while Lowe’s gave away more details about the current state of affairs, focusing on its own transformation in logistics. What follows is regular screening in our Premium…

‘Ban’ on expensive airfreight as hard-hit retailers review supply chains

Retailers are rejecting air freight, and returning to the ocean market where prices are low and reliability has improved. Source

Reading the runes on Hapag-Lloyd’s port expansion push

Two key lines in Hapag-Lloyd’s Prepare for Tomorrow strategy document, presented to investors at its 2021 Capital Markets Day around a year ago and oft referred to during last week’s earnings call, stood out: “Transhipment operations are complex and costly”. And thus it would “consolidate transhipment volumes at strategically selected hubs”. And secondly, on its…

Carriers ‘in panic mode’ as recession bites, offering ‘crazy’ ocean rates

Ocean carriers are said to be in “panic mode”, as bookings from China to North Europe and the US west coast plummet. Source

UAE’s AD Ports Group scoops up Noatum Logistics for $680m

AD Ports Group has acquired Noatum for AED2.5bn (€660m), as it looks to emulate its rivals into the end-to-end logistics market. Source

AD Ports targets logistics with Noatum buy – hurrah?

AD Ports looks set to truly be on an M&A roll after announcing today that it has agreed to buy Spanish ports and logistics group Noatum Maritime, valuing it €660m in enterprise value (EV). The total consideration is for a 100% ownership, and at AED2.5bn (€660m) it implies a last-twelve-months EV/Ebitda of 4.6x, pre-synergies. The…

Ro-ro market rebounds as rates double and vessel space is at a premium

Ro-ro market rates have doubled as car-carrying capacity has plummeted – the opposite of the container lines. Source

AD Ports takes over Noatum for €660m (EV)

PRESS RELEASE  Acquisition of Noatum Propels AD Ports Group to Become a Global Logistics Platform AED 2.5 Billion Strategic Investment also Offers Exposure to Maritime Activities in the Mediterranean Region and Port Facilities in Spain Abu Dhabi, UAE – 18 November 2022: AD Ports Group today announced that it has acquired Noatum, a global integrated…

New Silk Road: Gebrüder Weiss enlarges its logistics hub in Tbilisi

PRESS RELEASE New Silk Road: Gebrüder Weiss enlarges its logistics hub in Tbilisi Ten years of success in Georgia / Sought-after transshipment hub for transports between Europe and Central Asia / Tbilisi location to be further enlarged   Tbilisi / Lauterach, November 18, 2022. Gebrüder Weiss looks back on ten years of success in the Georgian…

Korean shipping lines promised billions in state support as profits fade

South Korea’s minister for oceans and fisheries has assured the country’s container shipping companies his ministry will help them weather market challenges as freight rates continue falling. This is despite South Korea having been criticised for using taxpayers’ money to bail out struggling enterprises. Cho Seung-hwan met with representatives of HMM, SM Line, Sinokor and…

Improved shipping reliability adds to retailer woes as more stock pours in

The easing of congestion on the high seas has put additional pressure on some retailers, which were already struggling with overstocking. Source

Zim will focus on niche markets as it prepares for the ‘new normal’

Ocean carrier Zim said yesterday that it expects freight rates to keep falling and is preparing by focusing on profitable niche markets. Source

Cargologicair goes into administration – ‘killed’ by UK red tape

UK freighter operator Cargologicair has finally gone into administration – but at a cost to UK jobs and trade, it was claimed. Source

Hub Group unveils management reshuffle

PRESS RELEASE  Hub Group, Inc. Announces Leadership Succession Plan Implementation November 17, 2022 09:00 ET | Source: Hub Group, Inc. Highlights:         David P. Yeager appointed Executive Chairman of Hub Group and will retire as CEO Phillip Yeager appointed as President and Chief Executive Officer of Hub Group, effective January 1, 2023 Hub also names…

PB: Bright spots for US PE firms

PITCHBOOK writes: As the fundraising environment got tough for other private equity firms, publicly traded investment managers attracted strong inflows in Q3 2022—adding to already high levels of dry powder. The breadth and depth of portfolios at those mammoth firms somewhat insulated them from headwinds like elevated interest rates and slumping valuations that strained other…

SA: Yield curve inverts to its deepest level since 1982

SEEKING ALPHA reports: The yield curve inversion between the 2-year and 10-year Treasury notes has deepened to its widest level in four decades. The spread between the 2-year and 10-year extended to a mark of -66 basis points early Thursday, marking the deepest inversion since 1982. In early market action, the 10Y (US10Y) was up 9…

Davidoff Cigars Releases Limited Edition Year of the Rabbit

For the eleventh year, Davidoff Cigars is celebrating the Chinese New Year with the release of a Zodiac-inspired cigar, Year of the Rabbit. Source

CH Robinson ups dividend by 10.9% to $0.61 quarterly

Just as CH Robinson (CHRW) is under the spotlight for its push aimed at cutting staff, the 3PL announced today that its board had agreed to increase the quarterly cash dividend to $0.61 a share, up 10.9% from $0.55 previously. The dividend is payable on 3 January 2023 to shareholders of record on 2 December, it added.…

ZH: LA port head says October was ‘quietest’ month since 2009

ZERO HEDGE writes: About a year ago, there was a massive queue outside two of America’s biggest ports, located on the West Coast. Now, the ports are coming to a crawl during the peaking shipping season, ahead of the busiest shopping period of the year.  There’s no longer a massive amount of container ships outside…

News Podcast | November 2022 | Electrolux exclusive; TIACA Miami; economic downturn pummels rates

Exclusive interview with Electrolux's air and sea planning director Source

Kale to pilot cargo community system at Kuala Lumpur Airport with Dagang Net

PRESS RELEASE Mumbai, India, Thursday 17th November 2022: Kale Logistics Solutions (Kale) and Dagang NeXchange Berhad (DNeX), through wholly-owned subsidiary Dagang Net Technologies Sdn Bhd (Dagang Net),  have signed a partnership agreement to introduce the Airport Cargo Community System (ACS) platform in Malaysia. Under the agreement, both parties will conduct a study on the implementation of…

Air Menzies International expands operations in Pakistan

PRESS RELEASE 17 November 2022, EDINBURGH: Air Menzies International (AMI), the leading air freight wholesaler, is pleased to announce the opening of two new branches in Lahore and Karachi, Pakistan as it grows its global network. Both branches are fully operational, with the new openings marking the 25th and 26th locations of AMI globally. The new locations will offer AMI direct…

Target Corp: The supply chain just can’t win…

The shares of retail chain Target Corp fell the hard way on the stock market yesterday (-13.1%), after a warning on the outlook that came with its numbers, and mostly concerned the upcoming holiday season. This is the same company that got our full attention in Q3 21, with regard to its very aggressive inventory…

Signs of a slowdown in LTL as FedEx starts to furlough peak season staff

It’s peak season – and FedEx Freight is laying-off staff. The less-than-truckload (LTL) arm of the integrator (the largest of the US LTL carriers) will start furloughing employees in some markets next month. These furloughs, lasting 90 days, will include a number of truck drivers and FedEx Freight, which employs about 45,000 people, has stressed…

Australia’s FWC vetoes Svitzer tugboat lockout to avoid economic damage

Following intense political pressure and intervention from Australia’s Fair Work Commission (FWC), Svitzer’s planned lockout of its tugboat crews tomorrow has been cancelled. The FWC met today , an attempt to bring its battle with maritime union’s to a head after three years of failed negotiations. According to the Freight & Trade Alliance (F&TA), before…

Insider action – pocketing with Expeditors

What’s better than a short-term rally to pocket a few million dollars? Just ask the CFO of Expeditors (EXPD), Brad Powell – while also, for small change in pure US dollar terms, we kept an eye on the dealings of the firm’s general counsel and corporate secretary, Jeff Dickerman. Waiting for the the selected questions and…

Low ocean shipping rates here to stay as overcapacity looms

Carrier expectations of a rule-enforced ship-scrapping bonanza – and capacity reduction of around 10% – are “overblown”, according to consultant Alphaliner. It says this will put shipping on course for a period of overcapacity and low freight rates. Predictions from some carriers that the IMO’s new carbon intensity indicator (CII) will result in a 10%…

As Flexport restructures, how Amazon executives are bringing change

Flexport has new executives from Amazon, a corporate restructure, and exposure to a dampening retail market, and rivals are watching closely. Source

New Casa de García Centenario Begins Shipping to Retailers

Altadis U.S.A. is giving one of its best-selling brands, Casa de García, a overhaul. Beginning Nov. 15, 2022, Casa de García Centenario will be available. This cigar is handcrafted in Nicaragua in collaboration with the Plasencia family. The result of this collaboration is a consistent, high-quality cigar offered at a value price-point for adult cigar…

Europe’s feeder operators feel the pressure as volumes from Asia decline

The knock-on effect of blanked sailings from Asia has significantly reduced the need for feeder services across North Europe. Source

Drew Estate Begins Shipping BLACKENED M81 Cigars

Drew Estate has begun shipping its latest cigar, BLACKENED “M81”, a collaboration with Metallica's James Hatfield, to retailers. Source

Shippers face a ‘stick or twist’ contract choice as economies flounder

As Europe’s contracting season approaches, shippers and forwarders are considering their options for the forthcoming year in what is turning into a volatile global market, making predictions more difficult. This time last year, shippers were looking forward to a rebound of the global economy, as Covid restrictions were lifted and consumer sentiment rose. In Retail…

WC: UK Inflation rockets to 11.1%

Inflation rockets to 11.1% – The Consumer Prices Index (CPI) rose by 11.1% in the 12 months to October 2022, up from 10.1% in September. – Major contributors included food and non-alcoholic beverages, up 16.4%. – Housing and household services, which includes household gas and electricity rose 11.7%.  – Households are paying 88.9% more for…

Innofreight aims for safest rail freight fleet in Europe through digital innovation with Nexxiot

PRESS RELEASE Innofreight digitalizes the entire railcar fleet of InnoWaggons to create a new European benchmark in safety and efficiency. The company which celebrates its 20th anniversary this year is committed to the worlds most advanced technology to create safer rail freight operations across Europe. Bruck an der Mur (Austria), Zurich (Switzerland), November 16, 2022 –Innofreight, the…

Lufthansa Cargo’s A321 freighter connects Evenes, Norway with the world

PRESS RELEASE Joint cooperation with Nordlaks and Salmosped delivers high-quality and fresh seafood | New A321 freighter connection to Evenes shortens transport times to global markets | Support for Norwegian fisheries through expanded transport offer for export Since the beginning of November, Lufthansa Cargo has introduced weekly A321 freighter flights to Evenes Airport (EVE) in…

Star Walmart shifts gear, exploits ‘changing business model’

Talking points from retail behemoth Walmart (WMT) this week are plentiful in the wake of interim results that greatly surprised on the upside yesterday. If you recall management’s previous remarks during the second-quarter fiscal 2023* conference call with analysts (‘Some of the best days are in front of us’), they ought to feel vindicated. (*Its fiscal…

E-commerce customers now prefer guaranteed delivery dates to speed

US designer fashion retailer Saks Off 5th, with an online sales platform and more than 100 stores in the US and Canada, has revamped its fulfilment options around delivery dates calculated as the customer buys. This gives shoppers instant visibility of when their order will arrive. “A concrete delivery date will now be provided for…

Some relief for loss-making SpiceJet as air cargo enjoys ‘its best times in India’

Cargo could save low-cost private airline SpiceJet – plagued by long-running cashflow problems – as it spins off SpiceXpress. Source

‘Healthy’ Home Depot – from grills to lumber, ‘the proof is in the pudding’

“Focusing on housing. So housing metrics are decelerating much quicker than your comps or your comp stacks. Is this just a lag effect? I don’t know if this lag is longer than other lags or…” Ok, let’s stop there. Those were part of the remarks of one sharp analyst on the call with Home Depot…

Q3 22: Solid headline numbers, but ZIM cuts earnings guidance

ZIM has just released its Q3 22 trading update. One key highlight is here: “The Company revised its guidance for the full-year 2022 and now expects to generate Adjusted EBITDA of between $7.4 billion and $7.7 billion and Adjusted EBIT of between $6.0 billion and $6.3 billion. Previously the Company expected to generate Adjusted EBITDA…

M&A its own way: DSV buys more of… DSV

“Any DSV news coming up?” That was the message from one impatient executive who got in touch late on Monday. Veerryyy briefly – there’s news today, yes. Yet let me now refresh a post I did barely a week ago, when I wrote that “the DSV countdown – my own DSV countdown perhaps – to…

Analysis: All-round CH Robinson – from chopping board to power struggle

It’s outright silly that a company of CH Robinson’s stature, during the pandemic making several times the profits it used to make pre-Covid, particularly in forwarding, is forced to cut staff because the bean counters and managers on its books didn’t do what they had to do: simply operate according to wise budget allocation in…

NOOs fear looming glut of new tonnage as charter market bull run ends

Containership owners are increasingly concerned about the high orderbook, due to be delivered in the next two to three years, after charter rates plunged 80%. Source

Amerijet eyes new horizons, but won’t quit its Latin American ‘playground’

Amerijet looks to expand its operations in Latin America as market starts to fall, with Ecuador in the spotlight. Source

Softer retail market puts pressure on hauliers as clients tighten purse strings

Major haulage customers, such as B&Q, Screwfix and Wickes,  clothing retailers and supermarkets Asda and Waitrose, are warning of a softer market – but it seems it has yet to impact some LSPs. Wincanton, which has some 8,500 trucks, today released its half-year results, showing revenues of £753.6m ($900,000), up 9.2% year on year, with…

CDS outages bring import chaos and fury as forwarders struggle to cope

UK traders have been plagued by a series of outages across the Customs Declaration System (CDS) for imports last week. And there are fears the rollout of its export version, due in March, will not be ready on time. Rolling outages last week left traders furious at what they claim is the lack of support…

Cathay Pacific Services opens pharma centre at Cathay Pacific Cargo terminal

PRESS RELEASE Cathay Pacific Services Ltd (CPSL) earlier this month opened its newest facility at the Cathay Pacific Cargo Terminal, a fully temperature-controlled area of over 1,250 square metres dedicated to the handling of pharmaceutical products. The purpose-built Pharma Handling Centre was designed and built with unique pharma-handling requirements in mind, taking advantage of the…

Svitzer’s Australian tug crew lockout will bring ports to a grinding halt

AP Møller-Maersk-owned Svitzer is set to bring Australia’s container ports “to a standstill” by barring its tug boat crews from working. It’s the latest escalation in a three-year battle with trade unions over a new employment agreement. Yesterday, the Danish company announced an “indefinite lockout” of all its 582 harbour towage employees from noon on…

Tobacco Asia Podcast #15: Talking About Global Cigars: Business and Opportunities

Justo Rico, well-known personality in the tobacco industry and principle of PCB (Premium Cigar Brands), headquartered in Barcelona, is a long time veteran of the global cigar business – selling and manufacturing premium cigars and securing tobacco. Source

‘Space and pace’ pricing may be an LTL game-changer for FedEx

FedEx Freight is blazing a trail in the US LTL market, piloting a pricing model ,with a select group of customers, that charges shippers based on weight or dimension of their cargo and speed of service. The ‘space and pace’ pricing structure replaces the traditional National Motor Freight Classification (NMFC) model in the LTL sector,…

FedEx CFO talks aircraft withdrawal, shows brave face in strenuous defence

After the earnings disaster that FedEx was*, every little helps to highlight soft guidance about how things are going to shape up to 2023 and beyond at the T&L integrator from Memphis. (*Read: ‘Have you got the right leaders in place?‘) And its CFO, Mike Lenz (pictured below), confidently tried to lure the audience at the Baird…

DSV’s Jens Lund talks to UBS – looking for ‘catalysts’

It’s that time of year ahead of Christmas, with ‘quiet periods’ tied to earnings totally forgotten post-results, when executives share insight with the analysts. How cool is that. FedEx CFO’s remarks were part of our coverage today (check this out); there have been a couple of other events for Deutsche Post DHL (with Deutsche Bank…

OceanX radar: Football fantasy – CMA heads into the dug out, Hapag scores! Be nice to people…

Another totally crazy week! Silver linings were that the US mid-terms did not turn out as bad as predicted and pretty sure we are now at the beginning of the end for the Donald… however, COP27 ended without much accomplishment (again); a tech meltdown could be on its way; China is opening a little more,…

M&A-hungry Rhenus – ‘now we’re really global’ – aims to triple in size

Rhenus Logistics has just three years to almost triple in size which means that next year, the market is likely to see some M&A activity. Source

The Underdog’s on Top: Espinosa Cigars’ Erik Espinosa, Part 2

For part 1 of this Tobacco Business cover story featuring Erik Espinosa, click here. Cooking Up a Hit with Guy Fieri A big part of Espinosa’s business are the cigars the company makes for others. What makes Espinosa Cigars the go-to for many who are seeking a manufacturer for their product is the fact that,…

Carriers lose pricing discipline with ‘unsustainable’ ex-Asia freight rates

Ocean carriers are heavily discounting spot cargo from Asia, but steep rises in costs suggest pre-pandemic rate levels are unsustainable longer-term. Source

R.J. Reynolds Sues California Over Flavored Tobacco Ban

R.J. Reynolds and other tobacco companies sue to enjoin and invalidate California's flavor ban bill, SB 793 that passed on Nov. 8, 2022. Source

Juul Staves Off Bankruptcy, Cuts 400 Jobs

Juul Labs was able to secure financing from two of its early investors, allowing it to stay in business, but the company will be cutting off 400 jobs as part of a reorganization. Source

COP27: Collective bargaining may be a route to greener shipping

BCOs and forwarders can now negotiate collectively to buy biofuels, following the launch of a scheme at Cop, within the ‘Roadmap to 2040’ for Zero Emission Vessels (coZEV). The plans include a maritime ‘buyers’ collective bargaining initiative’ to give shippers sufficient critical mass to push ship decarbonisation. Announced at COP27 last week, the Zero Emission…

STG Reports Stable Business in Third Quarter 2022 Report

Scandinavian Tobacco Group releases its third quarter 2022 report showing a slight decline in organic net sales. Source

Shares in Imperial’s Russian Subsidiary Sold

Interfax reports that Russian businessman Sergei Katsiev, a beneficiary of the Red & White and Bristol retail chains, purchased a 15% share in International Tobacco Group LLC, the former Russian subsidiary of Imperial Brands… Source

Florida shipper sues, claiming Maersk ‘flouts the law to rake in profits’

A Florida shipper has issued a complaint against Maersk and its subsidiary, Hamburg Süd, that includes a failure to meet contractual obligations and “retaliation and collusion” to manipulate the market. The complaint raised with the US Federal Maritime Commission (FMC) on 9 November is by furniture importer OJ Commerce, which says the carriers failed to…

InterTabac/InterSupply 2022: New Products Launchpad

Prestigious exhibitions such as InterTabac and InterSupply have always been the perfect platform for a manufacturer or supplier to break into the tobacco business, to make themselves known to future customers. Source

Lots of Chatter About a Looming Tobacco Shortage

As the world nosedives into its worst leaf tobacco supply crisis since 2008, Tobacco Asia asked four top executives about the situation’s ramifications. Source

S 24/7: BNP Paribas gets into Japanese leasing

Splash 24/7 reports: Japanese leasing deals are increasingly being sought by international shipping players, especially in the wake of Chinese lessors pulling back from the market. To further internationalise this Asian shipping finance, BNP Paribas, the world’s largest shipping bank, has signed a cooperation agreement with Tokyo-based SBI Leasing Service, a company which specialises in…

Hong Kong Plans Lifetime Tobacco Ban

Hong Kong is the latest government to be taken with the idea of a lifetime tobacco ban, in this case for anyone born in or after 2009. Source

Air Canada Cargo expands freighter fleet and network, and horses are back

Air Canada (AC) keeps expanding its network as more freighters join its fleet, and as it adds horse traffic to its service line-up. Source

California Sued Over Flavored Tobacco Ban

A day after Californian referendum voters passed Proposition 31, effectively a ban on flavored tobacco including flavored vape tanks and menthol cigarettes, R.J. Reynolds and other tobacco companies filed a lawsuit in federal court over the ban Source

Seven major tax challenges for international retailers | Avalara

If you’re expanding your business into new territories, it’s important to prioritise cross border tax compliance. Learn how in this article from Avalara. Source

CNBC: Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

CNBC reports: Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the U.S., according to a company statement posted on Twitter. Bankman-Fried has also stepped down as CEO and has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the transition. Approximately 130 additional…

BBG: Commodities surge after China eases some Covid restrictions

BLOOMBERG reports: Commodities from oil to iron ore and copper jumped after China eased some Covid restrictions, raising hopes over a demand recovery in the world’s second-biggest economy.  Almost all major commodities traded higher following news that China reduced the amount of time that travelers and close contacts of infected people must spend in quarantine,…

Rates rebound as blank voyages strategy starts to pay off for carriers

Spot container freight rates on the largest deepsea trades rebounded this week, despite continuing weak demand, suggesting recent capacity cuts have begun to reverse months of pricing decline. According to the Freightos FBX index, Asia-US west coast rates increased 11% week on week, to $2,763 per 40ft, which is around 80% lower than the same…

COP27: Piecemeal approach keeps us on the highway to climate hell

This week the Ship It Zero campaign berated retail giant Walmart for its failure to join in with emissions abatement measures that would ultimately reduce the company’s climate footprint. Ship It Zero is a campaign launched by US west coast environmental organisations Stand.earth and Pacific Environment. The Loadstar caught up with Pacific Environment’s campaign director,…

As the US trucking sector hits a slow curve, M&A activity goes up a gear

In a market facing headwinds, some players are consolidating their position through acquisitions, and this week Werner Enterprises, the seventh-largest US truckload carrier, took over Reed Transport Services and Ascend bought Fuchs Trucking. US truckers are rolling into the 2022 peak season at reduced speed. The Q4 market update and outlook by Uber Freight, released…

India’s exports slip to pre-Covid level just as logistics disruption eases

India’s container supply chains have returned to normal, following Covid-era bottlenecks, but exporters are concerned at plunging demand and higher taxes on freight. Rakesh Pandit, CEO of Pune-based Conbox Logistics, told The Loadstar: “Container availability has improved and conditions seem like the pre-Covid era. “The majority of Indian ports have sufficient inventory and shippers are…

CMA CGM blockbuster logistics M&A rumoured

Like a knife through butter. Deals Helmet on, M&A shield and sword at hand, the past 24 hours have been that sort of emotional build-up that only the greatest M&A battles deserve. And while what is shaping up to be, from what I heard, a power struggle* at US-based 3PL CH Robinson**, as the firm…

Sustainable aviation fuel lands on award-winner CargoAi’s booking platform

Freight forwarders can now check emissions data and purchase sustainable aviation fuel (SAF) when booking capacity on platform CargoAi. Source

Nice surprise – look at ‘buoyant’ GXO Logistics!

If there is a bit of justice in the finance world, GXO Logistics yesterday got back a bit of what it deserved in previous weeks on the stock market thanks to solid results that from the onset, in after-hours trade on Tuesday, pushed up its (still rather depressed) valuation closer to $40 a share. As…

New carbon emissions index claimed to put IMO metric to shame

Following discontent with the IMO’s Carbon Intensity Indicator (CII) and Energy Efficiency Existing Ships Index (EEXI) calculations, due to enter force in January, Xeneta and partner Marine Benchmark have devised a carbon emissions index (CEI) it believes is the true metric by which shipping should be benchmarking its performance. The main misgiving about the IMO’s…

‘Beware’: Hapag-Lloyd is coming after your terminal business

(Time to exploit its ballooning war chest, folks!) I have very little news, let alone insight, to share on the numbers from Hamburg in the wake of Hapag-Lloyd’s Q3 22 earnings released today. (But I have something else up my sleeve, definitely more exciting. Read on.) However, it sent a veiled warning to its rivals:…

Airlines betting on freighters: a waste of space or a timely investment?

As the airfreight market comes to a shuddering halt, the market is looking closely at capacity commitments that were made during the boom times. Source

SA: Nasdaq, S&P, Dow futures rocket higher, yields tumble on tame inflation numbers

SEEKING ALPHA reports: Stock index futures are soaring Thursday as core and headline consumer inflation rose less than expected. Nasdaq 100 futures (NDX:IND) +4.2%, S&P futures (SPX) +3.1% and Dow futures (INDU) +2.4% jumped right after the numbers. Rates are tumbling. The 10-year Treasury yield (US10Y) is down 17 basis points to 3.98%. The 2-year yield (US2Y) is down 18 basis points…

Supply chain disruption alchemy turns shipping line returns to gold

Capacity constraints caused by congestion and disruption to global supply chains saw the stiffening of ocean freight rates, boosting carrier returns in the face of softening demand, during the first nine months of the year. The effect on container shipping has been to raise average rates per teu, maintaining revenues at high levels even as…

FW: CH Robinson to lay off up to 1,200 employees, sources say

FREIGHTWAVES reports: Truck brokerage giant C.H. Robinson Worldwide Inc. is laying off between 1,000 and 1,200 employees, most of whom are at the vice president and general manager level, according to sources familiar with the situation. The move comes a week after the Eden Prairie, Minnesota-based company (NASDAQ: CHRW) reported weaker-than-expected, third-quarter results and strongly hinted…

WSJ: Amazon has launched a cost-cutting review focused on unprofitable business units

THE WALL STREET JOURNAL reports: “Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show” Amazon Chief Executive Andy Jassy is leading a cost-cutting review of the tech giant and paring back on businesses at the company that…

Maersk set to launch Bangladesh-India inland services after successful trials

Pilot runs on four inland waterways, intended to establish the feasibility of using Bangladesh ports as a transit point to and from landlocked East India have been successful. Maersk has no definite timeline for the start of services, but said the company was in discussions with potential customers. Kolkata Port (SMPK) led the project ,under…

Logistics as a service offering ‘will make us unstoppable’, says UPS chief

Software as a service (SaaS) has been steadily gaining ground over the past couple of years, and now UPS is aiming to tap into new revenue streams by combining its standalone digital offerings into a ‘logistics as a service’ (LaaS) package. The move brings together the integrator’s 3PL arm, Coyote Logistics, same-day delivery provider Roadie,…

Expedite All targets US reefer van sector with booking platform for shippers

Two months after its launch, start-up platform Expedite All has a new venture that targets the market for refrigerated van carriers. The firm says its Reefer Van Network harnesses one of the largest chains of refrigerated sprinter vans, box trucks and straight trucks in the US. Supported by private backers, Expedite All burst onto the…

Maersk responds to demand in Bangladesh with new Chittagong warehouse

Maersk has expanded its warehouse facilities in Chittagong, Bangladesh with a 9,300 sq metre facility, which becomes operational next month. It sees Maersk’s Bangladesh storage footprint increase to 27,900 sq m and was built in collaboration with local company Vertex Off-Dock Logistics Services Maersk also has access to more land should the company need to…

Shipper radar: Caterpillar + supply chain = (still) messy

Going through the interims of Caterpillar (CAT) is always fascinating, even more so when the focus is on supply chain dynamics for a company that is the absolute global bellwether in heavy duty construction machinery and equipment. And whose stock, also thanks to formidable figures released at the end of October (key highlights here), has…

Now it really quacks like a DAC

The two-tier worlds of corporate and finance, and the different dynamics that characterise them, appeared in all its evidence this week when Danaos (DAC) reported its Q3 22 numbers on Monday, 7 November. Will keep it nice and short, but it’s definitely worth mulling over DAC developments for a moment. Alongside its solid numbers and,…

Lost for words with Expeditors

Customs house brokerage (CHB) power at full throttle. That, in a short sentence, is what the Q3 22 update released yesterday by Seattle’s Expeditors (EXPD) was all about. Well, kind of! Yet, as we wrote Monday – first CHB hint here – ahead of the “Tuesday limelight“, EXPD was always expected to be “significantly more…

Californians Vote in Favor of Flavored Tobacco Ban

During the 2022 Midterm election, Californians voted in favor of Proposition 31 which bans the sell of flavored tobacco products statewide. Source

M&A radar: DSV – countdown to 15 November

Let me indulge in just a bit of background before telling you why the DSV countdown – my own DSV countdown perhaps – to Tuesday 15 November, has officially started. Appetite  In corporate finance*, your own eagerness to grow via acquisitions must always be gauged against capital markets’ appetite. (*The buy- and sell-side of which…

E-Cigarette Companies Appeal FDA Decisions

An update on e-cigarette companies Logic Technology Development and Juul Labs' appeal of the FDA's recent decisions impacting their businesses. Source

GXO eyes improved ‘returns’ as Clipper buy can boost reverse logistics offering

GXO is focusing on hugely expanding its returns and reverse logistics offerings after completing the acquisition of UK-based contract logistics provider Clipper Logistics GXO director of strategy Neil Shelton told The Loadstar the addition of Clipper into GXO would vastly increase the scope of its reverse logistics services, as well as providing a key bridgehead…

Reimagining Making Money and Doing Good

How a retailer and cigar manufacturers teamed up with Operation: Cigars for Warriors to raise $15,000. Source

Cathay Pacific pays tribute to CEO Augustus Tang as he gets set to retire

Cathay Pacific is seeing a major executive shake-up as CEO Augustus Tang retires at the end of the year. Ronald Lam, chief customer and commercial officer, will take on the role of CEO in January. He will be replaced by Lavinia Lau. In cargo, Alex McGowan will become chair of Cathay Pacific’s freighter carrier, Air…

COP27: Decarbonisation could cause staff training and shortage challenges

Global industry is facing a crisis of labour that could see transportation costs reach sky high levels for a prolonged period and are expected to be exacerbated by new climate change mitigation policies. Seafarers, truck engineers, civil aviation managers and fuel providers amount to hundreds of thousands of staff that have to be trained to…

Niels Rudolph is new director of global contract logistics at Röhlig Logistics

Röhlig Logistics has appointed Niels Rudolph (above) as its new director of global contract logistics, responsible for its global warehouse capacity. Mr Rudolph holds a degree in business administration and has served in various leading contract logistics roles in Germany, South Africa, South-east Asia and the US. Most recently, he worked as regional logistics manager…

Liverpool strike cancelled with union and employers close to deal

The latest round of strike action at the Peel Ports-operated Liverpool docks has been postponed after the two sides reached “a basic level of agreement” that will be put to the dockers in a vote tomorrow. Peel said yesterday it, and partner MSC subsidiary Terminal Investment Limited had reached an agreement that will be recommended…

Katharina Prost appointed MD finance and admin at AeroLogic

AeroLogic, the joint-venture between DHL Express and Lufthansa Cargo, has appointed Katharina Prost (above) as its new MD responsible for finance and administration, succeeding Martin Hirsch, who joined Austrian Airlines in June. Ms Prost previously served as MD at Aeromar, a JV between Aeroflot and LSG SkyChefs in Russia. Meanwhile, Joe Moser (below), AeroLogic MD…

COP27: Infrastructure worries hang over Atlantic “green shipping corridor” plans

The UK has signed up to a ‘green corridors’ agreement alongside Norway, the Netherlands and the United States to bring about zero-emission shipping routes between these countries. The agreement, made at the COP27 conference in the Egyptian resort of Sharm El Sheikh, opens up the possibility of carbon-free routes between several countries in the North…

Vietnamese air cargo carrier delays launch plans after rapid market decline

As ex-Vietnam airfreight demand dwindles, freighter airlines are cutting capacity from the country with rates down to pre-Covid levels. Furthermore, the rapid change in market conditions has prompted one local start-up cargo carrier to suspend its application for an airline license. Jan Segers, general manager of Noatum Logistics Vietnam, said: “Vietnam airfreight rates have dropped…

‘Crystal ball reading’ with DP-DHL

It was in the Q2 conference call in early August that a 2024 outlook was sought from Deutsche Post DHL, but fast forward three months and today the horizon has shortened. (Thank FedEx and its massive profit warning for that, I say.) How bad is (the current) Q4 22 going to look, for instance? The…

DP-DHL prepares to do battle for market share as outlook dips

Deutsche Post-DHL chief executive Frank Appel has issued a thinly veiled warning to competitors that it will be looking to use a predicted downturn in trading volumes to win market share. Speaking at the company’s third-quarter results in Bonn today, which saw third-quarter group revenue hit €24bn and EBIT reach €2bn, Mr Appel was repeatedly…

Q3 22: Expeditors blows away estimates

Just as expected… well, surprised? (Read “Tuesday limelight“, in case you missed our mild, ahead of the tape session.) Expeditors announced quarterly numbers today that were materially above estimates for Q3 22. (The full release is here.) Earnings per share (EPS) came in at $2.54, on a fully diluted basis, 27% above consensus. That EPS…

Emirates adds 5 new Boeing 777-200LR freighters to order book

PRESS RELEASE 08 November 2022 – Emirates has announced a firm order for 5 new Boeing 777-200LR freighter aircraft, with 2 units to be delivered in 2024 and the remaining 3 units in 2025. The agreement, worth over US$ 1.7 billion at list prices, takes the airline’s total order book to 200 wide-body aircraft. HH Sheikh…

BM: What the Glencore conviction tells us about corruption and bribery in oil & gas

Baird Maritime writes: Last week the Swiss-headquartered and UK-listed mining company and trading house Glencore was sentenced in the UK for seven counts of bribery. Glencore pleaded guilty to the charges that the company’s agents and employees had paid bribes of US$29 million to win contracts to sell oil on behalf of various state-run energy…

Q3 22: GXO reports solid numbers, confirms guidance, soars in AH trade

GXO Logistics today released Q3 22 numbers after the markets closed in the US. The shares rose to $38.2 (+4.6%) in after-hours trade. It reiterated full-year 2022 guidance for its key financial metrics: – Organic revenue growth: 12%-16%; – Adjusted diluted earnings per share: $2.70-$2.90; – Adjusted Ebitda: $715 million to $750 million; – Return on invested capital…

Airfreight: a tough few months, but demand could return in March

The air cargo industry is expecting a bumpy few months ahead, but some are optimistic the market could recover as early as March. Source

Emperors Cut Cigars Launches Limited Release Red Tail Series

Emperors Cut Cigars has announced the upcoming release of The Red Tail Series, inspired by the Tuskegee Airmen. Source

Alexei Isaikin exits Volga-Dnepr following management buyout

The founder of Volga-Dnepr Airlines, Alexei Isaikin, has fully left the company following a management buyout after he was placed on a UK sanctions list, while his UK companies could be dissolved. The Russian airline, which continues to operate in many parts of the world including India, Bangladesh, China and Vietnam, will now be run…

Tuesday limelight – Expeditors and DP-DHL

CH Robinson and FedEx sent shivers down the spine of investors and the trade alike in very recent times. So different by asset mix, yet so similar in the way the downturn in T&L has caught up with them, operationally since mid-August, but they are soon displaced in our minds by two of their most…

Flexport’s Petersen – his world in a nutshell

Lessons from past cycles in shipping? Do we have any? Sure thing. And, more broadly: What should we expect in transport and logistics (T&L) as asset-heavy carriers try to connect the T&L dots? And then: Who got their strategy right so far in capital deployment? We haven’t learned a lot, it seems, if you look…

Russia ban on trucks backfires as goods go around and domestic costs soar

Russia’s ban on trucks entering the country has backfired, failing to impede trade or put the brake on surging costs hitting domestic traders. The ban came into effect last month, a response to sanctions on Russian hauliers earlier in the year, and prevents EU, Norwegian, Ukrainian and UK-based hauliers transiting or delivering in Russia, and…

OceanX radar: Sunset for the ocean carriers in a world of chaos

I spent some time teaching and thus engaging again in person with the next generation of forwarding and logistics leaders last week. It is nice to see that the international flavour and dynamics of our business are still managing to attract young talent. Finally having returned to “real life“ again, unlike the past couple of…

The Underdog’s on Top: Espinosa Cigars’ Erik Espinosa, Part 1

There’s no one in the cigar industry quite like Erik Espinosa. He’s a businessman but not the type you’ll find sitting behind a computer all day wearing a suit and tie. Instead, the 55-year-old has been in the cigar business for over 23 years and has built a reputation and cigar brand that’s been recognized…

Carrier anger at plan to revise terminal access charges in Australia

Proposed changes to terminal access charges in Australia have met with stinging criticism from shipping interests who condemned it as “a truly awful policy”. In a speech to the Australian Productivity Commission, which in September published the first draft of its Lifting Productivity at Australia’s container ports: between water, wharf and warehouse report, Shipping Australia…

Flavored Tobacco on the 2022 Ballot in California

On Nov. 8, 2022, Californians will vote on Prop. 31, a referendum on SB 793 which bans flavored tobacco products in California. Source

APMT officially launches operations at new Côte d’Ivoire Terminal

PRESS RELEASE: Following a series of test calls, the new Côte d’Ivoire Terminal in Abidjan officially marked its operational and commercial go-live on November 2nd in the presence of port authorities and other local stakeholders. The first vessel to be officially operated on at the terminal was a 267 metre-long CMA CGM ROSSINI, with a total…

Philip Morris International Closer to Swedish Match Takeover

Philip Morris International has overcome some opposition towards it takeover bid for Swedish Match, valued at $16 billion. Source

Werner acquires ReedTMS Logistics – The Loadstar

PRESS RELEASE  Werner Enterprises Expands and Diversifies its Logistics Capabilities with the Acquisition of ReedTMS Logistics OMAHA, Neb., Nov. 07, 2022 (GLOBE NEWSWIRE) — Werner Enterprises, Inc. (Nasdaq: WERN), one of the nation’s largest transportation and logistics companies, announced today it has signed a definitive agreement and closed on the acquisition of 100% of the…

TG: Facebook’s parent Meta prepares to slash thousands of jobs – reports

THE GUARDIAN reports: Facebook’s parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (£69bn) was wiped off its market value last month amid the global economic downturn. On Sunday the Wall Street Journal reported that the cuts, to be announced on Wednesday, were expected to affect thousands of Meta’s 87,000 employees globally. Meta…

Container safety in motion as industry moves to cut losses

In an unprecedented period of container stack collapses between November 2020 and February the following year, some 5,762 boxes were lost from five major incidents, mainly in the Pacific. The tragic events that winter featured comparatively new vessels, including ONE Apus and Maersk Essen. And, using the average value per container of $40,000 per box, that could…

Firms feel a need for facilities near airports – and pay a premium for them

Warehouses and distribution facilities near major airports enjoy an average rent premium of nearly 20% over non-airport warehouses, according to a study by industrial real estate firm CBRE CBRE analysts scrutinised rents around the 20 busiest US airports and found rents for warehouses in a five-mile radius on average were 18.8% higher than the average…

COP27: Antitrust regulators scrutinise decarbonisation collaboration

The Loadstar’s coverage of COP27 is sponsored by Evergreen Line: leading the development of a sustainable global container transportation system Antitrust law could have a negative effect on the on the logistics industry’s transition to greener supply chains. Decarbonisation projects within the supply chain are, necessarily, collaborations between asset operators, such as shipping lines and…

‘It’s all about people’ – The Loadstar

In our Premium marketplace, a great deal of attention nowadays is devoted to people rather than deals, whatever the scope or size. The most prized asset in the industry. In all industries. For instance, certainly of interest is the next move of DB Schenker’s Bill Heaney. Promoted as regional chief commercial officer in the US…

COP27: Litigation in the climate change multiverse

The Loadstar’s coverage of COP27 is sponsored by Evergreen Line: leading the development of a sustainable global container transportation system As we prepare for the latest COP27 meetings, this year at Sharm El Sheikh in Egypt, lawyers are warning that climate litigation is of growing concern to freight transport companies. In climate change mitigation, governments…

RZD Logistics boosts Russian trade with rail link via Iran to India

RZD Logistics, a subsidiary of Russian railway monopoly RZD, has begun regular container train services from Moscow to Iran to serve growing trade with India by transloading. This is aimed at maximising use of the alternative International North South Transport Corridor (INSTC), a Central Asia cross-border multimodal freight network helping the two strategic partners work…

No joy for carriers as spot rates look set to drop below pre-pandemic levels

Container spot rates on the Asia-Europe and transpacific tradelanes are on course to dip below pre-pandemic levels before the end of the year. However, ocean carriers’ operating costs are significantly higher than they were in 2019, which could force more exposed lines back into the red in the first quarter of 2023. According to Lars…

CN: Non-alliance carriers tripled market share in Transpacific during record rate period

Containernews.com reports: Non-alliance container carriers managed to triple their market share from around 5% to around 15% during the peak of the Transpacific market in the last two years, according to the latest analysis of Sea-Intelligence. This trend could result from the fact that market conditions were very favourable to carriers from the second half…

SCD: ESG backlash unlikely to derail SEC proposal requiring climate risk disclosures

SUPPLY CHAIN DIVE reports: CFOs at companies ranging from candy makers to missile manufacturers have tried for years to attract equity capital by adopting environmental, social and governance (ESG) best practices. By one measure their efforts have paid off — worldwide investment in so-called sustainable mutual funds and exchange-traded funds has more than tripled since 2018 to…

CNBC: Stripe lays off 14% of workers

CNBC reports: Online payments giant Stripe is laying off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday. In the memo, Collison said the cuts were necessary amid rising inflation, fears of a looming recession, higher interest rates, energy shocks, tighter investment budgets and sparser startup funding. Taken together, these factors…

WFS opens new Cargo Terminal 3 in Copenhagen

PRESS RELEASE Worldwide Flight Services (WFS) has opened its latest and third cargo handling facility at Copenhagen Airport. The new Terminal 3 cargo building adds a further 3,700m² warehouse facility to WFS’ handling infrastructure in Copenhagen, where it handles over 100,000 tonnes of cargo a year, carried onboard passenger and freighter services. Since opening its…

Strike Aviation strengthens position in Latin America with Amerijet

PRESS RELEASE The international air cargo company Strike Aviation signed a Representation agreement with the US air freight company Amerijet International, based in Miami, Florida, in early November. For Strike Aviation, the new contract will offer a wide range of new opportunities, including a greater range of services to customers, geographical expansion, and stronger competitive…

Cardinal Global Logistics first in line to support new environmental initiative

PRESS RELEASE With an ambitious vision to enhance children’s environmental education through the magic of storytelling, newly created children’s edutainer Annie Mals has established early support from international freight forwarder Cardinal Global Logistics. Last week Annie Mals released its first book, Freddie the Jellyfish, tackling the ongoing problem of ocean pollution in an informative and fun way…

China joins supply chain shift and wants its hi-tech firms to invest in Vietnam

The shift of Chinese manufacturing to Vietnam is set to “accelerate” after a high level meeting in Beijing. Vietnam’s general party secretary Nguyen Phu Trong met President Xi, who said China planned to build a “stable supply chain” with its southern neighbour. He said: “China is willing to accelerate linking development strategies with the Vietnamese…

Tricky peak season for retailers as consumers tighten the purse strings

Although capacity headaches have largely dissipated and cost pressures eased, US retailers are still facing a challenging peak season. Thanks to volatility and the need to juggle multiple channels and sustainability, the busiest time of the year for retailers does not hold much promise. Many expect lacklustre consumer behaviour, owing to the financial constraints of…

Lufthansa still interested in ITA Airways buy as bids are reconsidered

Lufthansa has confirmed that it remains interested in a significant stake in ITA Airways, the Italian carrier born from Alitalia. Source

With GFS buy, AD Ports becomes an M&A gorilla

We return to the Abu Dhabi-listed AD Ports, which has quadrupled down – if such a phrase exists – on its ambitions to transform itself from a humble port owner into a multi-operational shipping company after agreeing to buy an 80% stake in Global Feeder Services (GFS) for $800m, as reported by The Loadstar yesterday.…

AD Ports boosts regional feeder market share with $800m acquisition of GFS

AD Ports has acquired an 80% share in regional vessel operator Global Feeder Shipping (GFS) for $800m. It’s a move that will see the port operator also secure a significant share of the regional feeder market. Subject to regulatory approvals, the deal will see the Abu Dhabi Securities Exchange-listed AD Ports Group become the largest…

CH Robinson – ‘the FedEx of forwarding’ gives in

If anything, with CH Robinson (CHRW), we feel vindicated at Premium. And also honoured, in fact, to be receiving the feedback that so many of you eagerly shared after its appalling Q3 22 numbers, which were released yesterday – and were indeed, appalling. Yes, it’s the perfect time for some light reporting but if you…

Lufthansa Cargo denies restructure is cost-cutting – ‘it is to cut complexity’

Lufthansa Cargo is to restructure its product and sales department – but has insisted it is not part of a wider cost-cutting plan. Source

WiseTech Global acquires Shipamax – The Loadstar

PRESS RELEASE November 2, 2022  SYDNEY, Australia – WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announced the acquisition of Shipamax, an industry-leading provider of data entry automation software for the logistics industry.   Founded in 2016 and headquartered in the United Kingdom, the Shipamax platform focuses on document data extraction and automating the full operational workflow.…

Hans Hickler appointed Seko Logistics president of Americas region

US 3PL Seko Logistics has appointed industry veteran Hans Hickler (above) as its new president of the Americas. Mr Hickler has worked with the company for the past seven years in an advisory role, through Ellipses Advisors, and boasts over 30 years’ experience in the logistics sector. Prior to starting his own business, Mr Hickler…

Atlas Air insists sale will go ahead, despite lawsuits and income drop

Atlas Air has insisted that its sale will go ahead, despite more lawsuits claiming that it violated the Securities Exchange Act. Source

Work stoppage at US port of Oakland not contract-related

There has been a US west coast port worker stoppage – but not in relation to the as-yet unresolved contract. Yesterday, hundreds of clerks walked out of the port of Oakland, leading to the closure of three terminals. While they are currently working without a contract, the clerk walk-out was because they have not been…

Carriers consider laying-up box ships as blanking fails to prop up rates

The idled containership fleet has breached the 1m teu capacity milestone – and is set to jump significantly higher as carriers prepare to temporarily suspend services rather than blank sailings. According to Alphaliner, as of 24 October, the number of inactive containerships either in drydock or seeking employment had reached 284, for a capacity of…

Hauliers fear for their businesses as next Liverpool Port strike is announced

Concerns are mounting for Liverpool supply chains as dockers are set to walk out for the fourth time in 60 days with no end in sight to their dispute with port operator Peel Group. Director of Liverpool Container T1 and T2 Richard Mitchell announced the latest strike, from 14-21 November, ahead of official word from…

Project44 raises $80m for Scope 3 emissions-measuring platform

CMA CGM and Maersk’s investment arm have invested in supply chain visibility platform Project44. Source

CH Robinson earnings hit by freight rate falls and soft demand in Q3

CH Robinson has cited retail weakness for a disappointing set of third quarter results, as it was also hit by freight rate falls. Source

Snapshot: CH Robinson hammered in pre-market

At a glance, it wasn’t a good trading update released today from CH Robinson for Q3 22. The numbers, announced ahead of trade, were very disappointing against expectations. The Loadstar reported: “CH Robinson earnings hit by freight rate falls and soft demand in Q3“. Seeking Alpha added that “the company posted wide misses on top and…

Another record profit for Maersk – but ‘we are past the earnings peak’

Maersk achieved a new record net profit of $8.9bn in Q3, but said it had “now seen the peak” in its “extraordinary earnings”. Source

Logistics and Maersk – preparing for trench warfare

When you go to war, as Vladimir Putin, and thousands of Russian conscripts have found to their fatal cost since February, you want soldiers who have “been there before”. Nothing substitutes for experience – wars, certainly those involving infantry, are most often won by experienced non-commissioned officers leading troops because only they really know how…

DB Schenker to open hi-tech logistics centre in Czech Republic

DB Schenker to open high-tech logistics center in the Czech Republic Source

Geodis extends freight forwarding services with a southern Spain office

PRESS RELEASE Global logistics provider’s Freight Forwarding Line of Business has established a new service hub for customers in the Andalusia and Extremadura regions of Spain. The office in Seville commenced business as of 1st October.   With well-established operations in other major Spanish cities including Barcelona, Bilbao, Madrid and Valencia the Group’s freight forwarding services…

TFI International – the home of ‘intelligent capital allocation’

If Brad Jacobs is the master in land transport and logistics M&A, on everybody’s lips this week following the separation of RXO from XPO, Alain Bedard of TFI International is the M&A bulldog of our times in the space.  Miss a quarterly call between the analysts and Alain, and you’ll regret it. So here comes…

Philip Morris International’s 2022 Third Quarter Report Released

Philip Morris International releases its 2022 third quarter report touching on its heated tobacco business and plans to acquire Swedish Match. Source

Increasing domestic box ship fleet could reduce costs for Vietnam’s shippers

Freight forwarders and logistics experts say the expansion of Vietnam’s container shipping fleet, and the incentives for that, could generate benefits for shippers through reduced transport costs. Last month, the Vietnamese government approved plans to increase the number of containerships owned by domestic companies by exempting import taxes  and halving tonnage fees on goods they carry. The target…

Romeo y Julieta Envy Releasing in December

The limited edition Romeo y Julieta Envy, inspired by a bad-energy deflecting amulet, is set to release in December 2022. Source

On the wires: $11bn Atlas Corp’s Seaspan – how we got it wrong

A quick take on the world’s largest non-operating shipowner Seaspan and parent Atlas Corporation, which earlier this week delivered Q3 22 results that were virtually irrelevant. That’s because they came on the back of the announcement that the diversified energy/shipping group had agreed to be taken over by the Poseidon consortium, which largely comprises of Atlas’ existing…

Rocky’s World: A Look at the Business of Rocky Patel

Rocky Patel reveals the business plan that helped him achieve success in premium cigar manufacturing and in retail. Source

US commits another $703m to improve supply chain and port infrastructure

US President Joe Biden’s drive for more resilient supply chains has continued with a third round of funding, topping $703m, mainly for port and inland infrastructure improvements. The Port Infrastructure Development Program (PIDP) will release some $450m via the Bipartisan Infrastructure Law, $234m made available through the Consolidated Appropriations Act and around $19m left over from last…

Brian Bitsch appointed new COO at APM Terminals Nordics

Container shipping veteran Brian Bitsch (above) has assumed the role of chief commercial officer for APM Terminals Nordics. Mr Bitsch has 20 years of experience in global roles within AP Møller-Maersk and MSC and, for the past decade has been a commercial manager at APM Terminals facilities in Africa and Eastern Europe. He will now…

DHL’s Martin Leopold appointed CFO at German start-up InstaFreight

German start-up InstaFreight has strengthened its management team, appointing Martin Leopold (above) to the new position of chief financial officer. The 54-year-old has joined after a five-year stint as chief sales officer of DHL Freight, the German giant’s road freight arm. Prior to that, he spent three years as DHL Freight’s CFO. “My decision to join…

Against the odds: Record €100 Porsche a godsend for DB Schenker sale

In numerous stories and conversations in recent years, the fate of Deutsche Bahn-owned 3PL DB Schenker has been swinging between a sale and “work in process” to monetise the asset. With a deal crafted via the offering to the market of a minority stake – or any other outcome according to which its parent would…

Jakob Wegge-Larsen and Hessel Verhage join DB Schenker board

German forwarder DB Schenker says it is building a leadership team that will take it into the future, with the appointment of new head of contract logistics Hessel Verhage and new CFO Jakob Wegge-Larsen. Denmark-born Mr Wegge-Larsen is currently CFO and senior VP of ocean & logistics at Maersk Group, where he was responsible for…

OceanX radar: Another week of tears

Doom and gloom continue to rule the markets, and unfortunately appears likely to persist far beyond Halloween. We are just 10 days from the US midterm elections, where the economy and inflation worries are turning out to be the key concern of voters. As a I write, Brazilians have just chosen to reinstall Lula as…

‘Sudden decline in demand’ hits ONE liftings and profits in second half

Japanese ocean carrier ONE says it expects profitability to contract by 60%, year on year, in the second half of its fiscal year, ending on 31 March 2023, as trading conditions on global liner trades worsen. After a strong performance in July, ONE said it had experienced a “sudden decline” in demand in the following…

Strong third quarter for bullish XPO on the eve of latest spin-off

On the eve of the spin-off of XPO Logistics’ truck brokerage division, RXO, the company has beaten analyst expectation and delivered some of its strongest quarterly results. The company reported group-wide revenues of $3.04 bn for the quarter – although this was down on the $3.27bn reported in Q3 21 – excluding revenue from its…

Saia reports record Q3 results

PRESS RESULTS October 31, 2022 07:30 ET | Source: Saia, Inc. JOHNS CREEK, Ga., Oct. 31, 2022 (GLOBE NEWSWIRE) — Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported third quarter 2022 financial results. Diluted earnings per share in the quarter were $3.67 compared to $2.98…

Collett Enterprises Stores Acquired by Smoker Friendly

The Cigarette Store, doing business as Smoker Friendly, has completed its acquisition of Collett Enterprises, Inc.-owned stores. Source

AP source: Biden to float windfall tax on energy producers

AP reports: President Joe Biden on Monday will raise the possibility of imposing a ‘windfall tax’ on energy companies, as his administration aims to combat high gas prices just days before the midterm elections. The White House said Biden will deliver remarks to respond ”to reports over recent days of major oil companies making record-setting profits…

New Investor Calls for KT&G Business Split

An investment firm which acquired a minority stake in KT&G calls for the tobacco conglomerate to separate its ginseng business from its tobacco business, according to The Wall Street Journal. Source

Altria-PMI End IQOS Relationship

Philip Morris International (PMI) and Altria Group Inc. are ending their IQOS commercialization agreement on April 30, 2024, after which PMI will have the exclusive right to see IQOS products in the US market. Source

Study: 35 Best Age to Quit Smoking

Smokers who quit before age 35 have similar mortality rates to those who never smoked at all, says a new study. Source

New Consumption Tax for China’s E-Cigs

Starting November 1, e-cigarettes will be subject to taxation on an ad valorem basis under China’s new regulations, authorized by the Ministry of Finance, General Administration of Customs, and the State Taxation Administration. Source

China Tobacco’s Digital Transformation

The Chinese tobacco industry continuously explores how to better use “Internet+” technology (which means to integrate internet with traditional industries). Source

BMJ: Sustainability in the Paper Industry

BMJ’s innovation director Liem Khe Fung chats about his company’s sustainability initiatives. Source

Forwarders, help your customers ship more sustainably with goSAF

Air France-KLM- Martinair Cargo has launched a platform for customers to buy sustainable aviation fuel for flights. Source

Hero – Chevron

Source

M&A radar: Make it a (star) Ryder MBO, if anything

… if and when market conditions allow. Because certainly you have listened to the remarks of Moody’s analysts a couple of days ago on tightening liquidity in the leveraged market, and heightened corporate default risk. Earnings season star The management team of the week? Look for them stateside, in Miami, at Ryder System. Where trucking…

Upbeat LATAM Cargo keeps an eye on shifting transatlantic demand trends

LATAM Cargo is reporting healthy loads on its transatlantic routes to Europe, and is cautiously optimistic about current air freight market. Source

Against the odds: Buy FedEx or not – but forget its fleet size

Let’s stir up the crowd. Not for the first time, the discrepancy between what financially focused people tell investors, and the reality of the situation as far as operations go, is a wide one.  Over on The Loadstar, the focus is on volumes, rates, strategies – the real-time realities of the world. That’s the sexy…

‘Jittery time’ for BCOs as prospects of labour contract settlements fades

Hopes for a settlement in the contract negotiations in the US rail industry are on the wane. And any agreement on the west coast port arena is receding into 2023, amid rising concerns about unrest in cargo labour relations. The prospect of a smooth implementation of the deal between the railways and unions brokered by…

‘Record demand’ for LCL cargo driving China-Europe rail volumes upwards

China-Europe rail freight volumes saw another uptick last month, helped by “record demand” for LCL cargo. According to China Railway, there were 12,000 train trips between January and September, with volumes increasing to 1.18m teu, up 8% year on year. By comparison, throughput for the first eight months was 1.02m teu. The volume growth marks…

Passengers are back – but cargo still boosts results at Lufthansa

Passengers – and consequently belly space – are back, according to Lufthansa’s financial results, and Lufthansa Cargo has record revenues. Source

Samskip and GoodFuels sailing close to near zero-carbon ship voyages

Samskip and biofuel vendor GoodFuels say they have proved it is possible to reduce a ship’s CO2 emissions by more than 90%, raising the possibility of shippers almost entirely decarbonising their sea cargo. Goodfuels has negotiated a way around the maritime industry’s usual shipowner-charterer deadlock by approaching shippers directly. This allows its customers to purchase…

Ocean rates still collapsing – carriers pin hopes on early Chinese New Year

Ocean carriers are continuing to blank consecutive headhaul sailings from China to North Europe and the US west coast as they attempt to slow the erosion of container spot rates. However, despite the sharp increase in voyage cancellations, shippers appear to be having very little difficulty getting space on first-available departures –bringing back the concept…

ZH: Amazon implodes missing on revenues, disappointing on AWS, catastrophic guidance

ZERO HEDGE writes: Update (1645ET): During the earnings call, Amazon says sales growth moderated as the third quarter progressed and it expects the challenges of inflation, rising fuel costs and weaker demand to persist through the holiday quarter. Additionally, Amazon CFO Brian Olsavsky suggests more cuts could be coming. The company will continue to invest in growth businesses like…

The digital twin: Dachser and Fraunhofer IML increase transparency in groupage handling

PRESS RELEASE Successful test operations at two locations: AI-based algorithms fully automatically identify, locate, and measure all packages in the transit terminal. This first step eliminates the need to manually scan and label packages and speeds up departure times. Going forward, it is hoped that AI will also support and optimize loading. Kempten, October 27,…

Sea cargo insurance turns from broad brush to black box

Sophisticated container tracking solutions will allow insurers to bring the benefits of automotive ‘black boxes’ to the maritime market, allocating risk more accurately and rewarding safe operators. Insurers must make complex risk calculations when costing coverage for ships and their cargo. Premiums are based on a wide range of factors including vessel type, age and…

Cosco stake in Hamburg’s CTT stirs unease over Chinese influence in ports

Cosco Shipping Ports has been allowed to take a minority stake in Germany’s Container Terminal Tollerort (CTT), Source

On the wires: Between M&A and cost cuts, Kuehne + Nagel will save every cent

After the Q3 22 numbers were announced this week by 3PL majors DSV and Kuehne + Nagel (K+N) and following the air/ocean trends-spotting exercise in our marketplace, it’s time to catch up with ‘all things capital allocation’ that were discussed by K+N in its call with analysts on tepid Tuesday. (Which certainly turned out to…

Maersk Air Cargo gears up for transpac take-off, despite a soft market

One of Maersk Air Cargo’s three leased 767-300 freighters, to be operated by Amerijet, arrived yesterday in Miami, Amerijet’s base. Source

Against the odds: Yoohoo! DHL rides to boohoo’s corporate rescue

On a wing and a prayer. That perfectly sums up the state of affairs at boohoo, a fast-fashion online retailer out of the UK whose corporate and stock story has been tainted in recent years. But the worm may be about to turn, thanks to DHL Supply Chain. Retail investors are rubbing their hands with…

Quiet Cosco sale of stake in Duisberg trimodal terminal project a mystery

Following yesterday’s announcement that Cosco Shipping Ports will take a 24.9% stake in a Hamburg terminal, it has emerged that Cosco Shipping Logistics (CSL) quietly sold a 30% stake in Duisburg Gateway Terminal (DGT) in June. Scheduled for completion in mid-2023, the DGT trimodal terminal is set to be the largest hinterland box facility in…

FDA Issues MDOs for Logic Menthol-Based E-Cigs

Several menthol-based e-cigarette products manufactured by Logic Technology Development, LLC receive Marketing Denial Orders from the FDA. Source

MSC looks to add more 8,000 teu utility vessels as its fleet ambitions grow

MSC’s comprehensive fleet ambitions could be enhanced, following reports is is in the market for another series of 8,000 teu utility vessels. Source

FLVR Cigar Line Offers Unique Flavors at Affordable Prices

Forged Cigar Company has announced the release of FLVR, a line of flavored premium cigars with a price point under $5 per stick. Source

Samsung lodges ‘unreasonable D&D fees’ complaint against Zim with FMC

South Korean electronic goods giant Samsung has become the latest major shipper to head to the US Federal Maritime Commission (FMC) in protest at “unreasonable demurrage and detention” fees, in a complaint lodged yesterday against Israeli carrier Zim. From the beginning of 2020, Samsung Electronics America (SEA) had contracted Zim on a door-store basis to…

Altria and JTI Announce Strategic Heated Tobacco Partnership

Days after announcing an end to its partnership with Philip Morris International, Altria partners with JT for new heated tobacco products. Source

Digital focus is key as Saudi Arabia invests billions in logistics infrastructure

Digitalisation, policy and regulation are what Saudi Arabia “must focus on” if it is to see its $2.7bn investment in logistics infrastructure pay off. The Middle East kingdom announced on Sunday it had earmarked the funds to incentivise global supply firms to invest in Saudi as a logistics hub,  part of its ambition to become…

Supply chain radar: The container count conundrum

All boxed in – what to do with the sudden glut of global shipping containers?  Like the intro to a long running television/streaming series (adopt gravelly American voiceover voice): “Previously on Container Shipping Is Totally Nuts…” 1) When Covid-19 was declared a pandemic, societies went into lockdown and manufacturing plants were shut, resulting in shipping…

Supply chain radar: Peak UPS is all that matters now

A bit of tiredness in trying to get the corporate message across was felt yesterday when the UPS top brass fielded the usual quarterly call with analysts in the wake of Q3 results, which were broadly in line with expectations. Rather than reading what I have to say today – lucky you: nonetheless, it was…

On the wires: GXO resuscitates – bottom fishing mode on

Outsourcing worth a quick look in our vast T&L firmament? Sure thing. And if you are not a fan of GXO Logistics, you missed the real fun yesterday. As my demo all-in portfolio shows, its stock rallied hard from $33 on… … other news during the day; the 52-week low of $32.1 is now a…

Takeover target Ryder smashes it

SEEKING ALPHA reports today that Ryder’s non-GAAP EPS of $4.45 represented a “beat of $0.79”, while quarterly revenues at $3bn were only slightly higher than expected. Investing.com, meanwhile, reports that the company topped Q3 EPS estimates by 80 cents, while updating the market on guidance. (The full statement is here.) Stock flattish at $75.01 in pre-market,…

Box ships set for a cull, but smaller vessels the most likely to get the chop

A period of aggressive vessel scrapping will be required to address a looming “severe risk of overcapacity” in container shipping. But the likely demolition candidates are in the smaller sizes, where newbuild orders are sparse, says Alphaliner. The lack of investment in replacing smaller containerships in recent years, in comparison to the rush to order…

MSC’s TIL to develop new Baltimore terminal to boost east coast traffic

MSC’s port operating subsidiary, Terminal Investment (TIL), is set to further expand its North American east coast port portfolio after signing up to build a new container terminal at the port of Baltimore, in cooperation with local property developer Tradepoint Atlantic. The terminal will be built on a 67 ha brownfield site at Coke Point,…

Supply chain and freight inflation pressures look set to shut the door on Made.com

Made.com, a furniture retailer, has succumbed to “freight inflationary pressures” and looks set to close, despite its £775m IPO last year. Source

DHL eCommerce Solutions to hire 2,000-plus seasonal workers across the US

PRESS RELEASE ·       Additional workforce to handle peak season volume in the company’s distribution centers ·       Full and part-time positions are available in markets across the U.S.   Weston, FL October 26, 2022 – DHL eCommerce Solutions, a division of the world’s leading logistics company, Deutsche Post DHL (DPDHL) Group, announced it is looking to hire more than…

ACS’s France operation sees impressive bounce-back growth

PRESS RELEASE Air Charter Service’s French operation, based in Paris, has seen an impressive first half to the year, up by 91% on the same period in 2021. Alexandre Busila, CEO of ACS France, commented: “We have seen a real return to business for all of our three main divisions following the past couple of…

Air France-KLM makes major multi-year Sustainable Aviation Fuel (SAF) purchase agreements

PRESS RELEASE ·         Air France-KLM has signed two binding multi-year contracts with SAF providers Neste and DG Fuels for a total volume of 1.6 million tons. ·          These contracts represent a first step by the Group towards achieving its 10% SAF incorporation targets by 2030 and will cover approximately 3 of those 10%. ·          First deliveries are expected in…

Against the odds: Mainfreight – an absolute stunner

Lady luck came to visit Premium last week, for what was an absolute brilliant call for a service like ours that has rarely (never?) stamped a “BUY” on anything before. Until last week, that is, when the shares of New Zealand’s Mainfreight (MFT) – a brand, a crew, a company and a family business we…

On the wires: Lonely CH Robinson – ‘leave it alone, leave me alone’

Rainy days. From the rise and fall of CH Robinson to the next steps – sell-side downgrades or uninspiring price recommendations – the path was short. And so, on the day its rumoured partner in forwarding DSV, sadly or not, announced another round of buybacks instead of a deal, and Kuehne + Nagel also confirmed…

Port of Charleston aims to be an intermodal major league player

The port of Charleston is gunning for a bigger slice of the pie of container traffic moving through US east coast ports. It broke ground last week on a near-dock intermodal facility seen as a game changer for intermodal flows and next month is set to complete dredging so it can handle post-panamax vessels. The…

On the wires: Tepid Tuesday from average DSV & Kuehne – yet DSV wins

First and foremost. Glancing through the key figures from the Q3 22 results of DSV and Kuehne + Nagel, which were both released today, you may well have thought: Where have I seen them before? We will spare you the soul-searching pain: it was here, yesterday. As growth slowed (check), diluted earnings per share (EPS)…

An ‘extra aggressive’ DSV puts M&A on hold as it chases volumes

DSV is planning to be “extra aggressive” to retain volumes, even if it risks yields, group chief executive Jens Bjørn Andersen said. Source

Liner sector slump may bottom out soon, but carriers must carry on blanking

Container markets are experiencing a steep correction, but one analyst has suggested that the bottom of the liner business cycle may be near. Source

ICS offers ‘tax and reward’ system to drive adoption of green shipping fuel

The International Chamber of Shipping (ICS) has proposed a tax-and-reward system for early adopters of new fuels, paid for with a levy on existing fuels. Source

TAP Air Portugal steps into freighters, as would-be suitor Certares circles

TAP Air Portugal has taken a first – and possibly last – tentative step into air cargo with one converted A330F. Source

K+N looks to ‘higher-margin business’ from SMEs to protect record profits

Swiss forwarder Kuehne + Nagel will focus on high-margin complex business to protect the record profit levels it reported today. Reporting numbers for the nine months to 30 September, CEO Stefan Paul told analysts that, with demand slowing, particularly in the Asia to Europe trades, the company was looking to develop its products into the…

PB: M&A finds few lifelines in Q3

PITCHBOOK writes: Companies and investors certainly shopped till they dropped, and they might not be getting up any time soon. Global merger and acquisition activity that had ratcheted up to record-high deal counts and values at the end of 2021, then dropped in the new year, fell further in Q3, clocking in 29.8% down from…

Doing Things Her Way: Dissident Cigars’ Cynn Coburn

Dissident Cigars' Cynn Coburn is working hard to show the industry not only what she’s capable of but also how cigars can build a community. Source

China Q3 growth a blip: Covid still a drag on productivity and recession looms

China has announced better-than-expected GDP growth for Q3, helped by “resilient” exports. However, with President Xi cementing his grip on power with a record third five-year term during the recent party congress, the zero-Covid policy weighing down China’s long-term economic outlook is unlike to change, experts say. China’s economy grew 3.9% in Q3, up from…

M&A radar: Insatiable MSC strikes again – now let’s go cruising…

Here we go: MSC strikes again via a brand new deal, this time to complement its core ocean shipping assets rather than feeding air cargo ambitions. If you are not a fan, well – think again. 100% of Italy’s Rimorchiatori Mediterranei (RM) is its next buy, pending regulatory approval. And with this transaction, MSC said yesterday,…

Import gateway shift pushes Houston to the top of port congestion league

To avoid congestion at major west coast gateways, US importers have now clogged up ports elsewhere and it's Houston that has the biggest problem. Source

The new norm: how technology is transforming supply chains

The pandemic has now changed the way all of us look at supply chains. Traditionally a function which hummed away in the background almost unnoticed, supply chains are now constantly in the media spotlight, with disruption affecting the everyday lives of people in a tangible way. Businesses worldwide have refocused their attention on tackling the…

Analysis: Hot (basis points) Tuesday – it’s the turn of DSV, Keuhne & UPS

All eyes on growth but also on operating income and earnings per share (EPS). That, in one line, is the story of this week’s reporting ahead of trading tomorrow in the most prominent, listed European freight forwarders DSV (Tuesday) and Kuehne + Nagel (K+N, Tuesday), as well as integrated logistics firm UPS (Tuesday), stateside. Premium …

OceanX radar: Record-breaker MSC; Alibaba’s ocean play; freight rate woes

The world situation remains a mess – chaos on a stick! Cosco’s planned investment in HHLA’s Tollerort Terminal in Hamburg has somehow become a political hot potato, and instead of discussing a large, loyal client’s investment for the long-term in the smallest of the port’s terminals, it has transformed into a debate about dependency on…

UPS’s head of Turkey, Burak Kiliç, promoted to GM in France

UPS has promoted its previous head of Turkey, Burak Kiliç (above), as its new general manager of UPS France. “One of my key priorities in this new role will be to create a stronger link between France and the world by promoting the growth of exports,” Mr Kiliç said. As director of UPS Turkey, Kilic…

Hawaiian to deliver the goods for Amazon Air with ten A330-300Fs next year

Amazon has made its first foray into both Airbus – and widebodies – via a deal with Hawaiian Airlines to operate 10 A330Fs, Source

PMI to Regain Full U.S. Commercial Rights to IQOS

Altria has revealed a new agreement will end its deal to sell IQOS in the U.S., giving commercialization rights back to Philip Morris International. Source

Euro ports brace for more throughput declines as carriers blank more sailings

Rotterdam and Antwerp ports are seeing a reduction in the number of alliance calls from Asia, and expect a big drop in throughput numbers in the final quarter. Source

Juul Labs Publishes its FDA Marketing Denial Order Appeal

Juul Labs, Inc. has made public its administrative appeal of the marketing denial order (MDO) that was issued by the U.S. Food and Drug Administration (FDA). The appeal outlines Juul’s position that it states is based on science and evidence and it goes on to say that the MDO issued by the FDA was “substantively…

War of words over deal or no deal at port of Liverpool heats up

Union officials have accused the board of Liverpool Port operator, Peel Ports, of killing a deal agreed with the union last Thursday and instead looking to discredit workers’ representatives in a media campaign. A Unite The Union official told The Loadstar that Peel Ports COO David Huck had agreed that a 10% pay increase, with…

Against the odds: Flexport pulls KKR funding rabbit out of the hat

Oh, yes! Just what the doctor ordered. I don’t know if it’s only me thinking aloud after a start to earnings season that had credit/counter-party risk high up in my pecking order or maybe we all think the same. But yesterday’s announcement that Flexport Capital* – rather than Flexport itself – had secured a $200m credit line…

On the wires: Nothing to fear with Prologis (but isn’t dirt cheap yet)

The Q3 22 numbers released by Prologis (PLD) this week were the classic “non-event”, the near-$100bn real-estate investment trust broadly delivering on its promises but failing to spark optimism in warehousing, where its global investment portfolio shines from west to east. And if it’s transition time to somewhere for Prologis, it’s likely to be the same for…

Cosco Shipping enters logistics arena with investment in 3PL affiliate

Cosco Shipping Holdings officially launched its supply chain logistics division yesterday, joining peers like MSC, Maersk and CMA CGM in entering the 3PL arena. The state-controlled group said, in a Shanghai Stock Exchange filing, it wanted to optimise warehousing, trucking, container distribution, sea and rail freight, customs clearance, air freight and LCL transportation. The windfall reaped…

On the wires: SATS + WFS – nowhere to hide

Nine long days have passed since our previous Premium coverage of the largest ground handler in the making, SATS + Worldwide Flight Services (WFS), and for listed SATS it goes from bad to worse on the stock market. To the point that the bulls are coming to the rescue, with local headlines pointing to the upgrade to…

Transnet port strike ends, but forwarders say cooperation is key from now on

Transnet resumed activities in full at South Africa’s ports yesterday, after the South African Transport and Allied Workers Union (SATAWU) called off industrial action. Source

Shipper radar: ASOS looks to tailor its supply chain

The twin challenges of weakening international demand and higher costs – largely due to supply chain inflation – pushed ASOS, the UK’s e-commerce fast-fashion darling, into a full-year pre-tax loss despite a marginal 1% revenue growth. According to its latest annual results, released on 19 October, in response ASOS now reckons it may have to…

Handling JV between Menzies and Iraqi Airways hits the buffers in Baghdad

Menzies and Iraqi Airways are in a contractual dispute over their Masil joint venture in Baghdad. Source

Fresh funding for port upgrades at LA and Long Beach – just as volumes slump

The port complex of Los Angeles and Long Beach is set to receive about $840m in funding for infrastructure improvements – ironically when throughput is at near-record lows. Source

Black Sea Grain Corridor agreement for Ukraine humanitarian exports in the air

As the deal for the first Black Sea Grain Corridor expires next month, the issue of whether it will be extended, expanded to include containers or ended comes to the fore. Initially, it seems Ukraine’s July agreement with Russia, Turkey and an international survey team in Istanbul that monitored bulk cargo shipments for military equipment,…

Export markets ‘destabilised’ as carriers are forced to ‘undersell’ capacity

Ocean carriers are endeavouring to top up their ships from China with heavily discounted spot cargo as their contracted shippers underperform on minimum quantities. However, it appears that if bookings still fall below around 60% vessel utilisation levels, carriers are cancelling voyages at the eleventh hour, declaring a blank sailing to the trade. According to…

Kuehne+Nagel and Novo Nordisk expand global partnership into low-carbon fuels

PRESS RELEASE 12 million litres of SAF (sustainable aviation fuel) to minimise environmental impact of Novo Nordisk air freight globally Sustainable fuel offering to support customers’ pledge for carbon-neutral shipping Advocating for more sustainable fuel production and use Novo Nordisk, one of the leading healthcare companies in the world, partners with Kuehne+Nagel to drive the…

Transfar Shipping thinks ahead and plans 8,000 teu quintet to lure Alibaba

Alibaba's shipping affiliate Transfar Shipping is planning to order five newbuild 8,000 teu vessels for its own Ali Express transpacific service. Source

On the wires: M&A-focused Knight-Swift is a cool broken record

On 25 July, I drafted the intro of a column on $8bn-market-cap Knight-Swift (KNX) that was never published. It comes in rather useful today. Unedited, it read: If you have missed the remarkable corporate development of trucking and logistics master Knight-Swift in recent years, and now want to know more about near-term capital allocation plans – here…

M&A radar: The spectacular rise and fall of CH Robinson

… in just about 800 words. Where to start is straightforward. I regret having to type “I told you so” but I told you so. Yes, quite inevitably, CH Robinson’s accelerating fall is on Premium‘s mind today. Its $121.23-a-share all-time high of 25 August is all but a distant memory. But that’s not the factor that hurts…

Unhappy Atlas Air shareholders take legal action over directors’ ‘push’ to sell

The board of Atlas Air has been accused in court of misleading shareholders, by pushing them to vote for a merger which would enrich themselves and senior executives. Source

Shippers can profit from DPW’s ambitions for Romania as a logistics gateway

Major manufacturers and support factories in Romania’s industrial heartland of Transylvania are in discussions to begin operations at DP World’s new €20m ($19.56m) logistics hub at Aiud. IKEA, Bosch and a range of automotive component factories and white goods manufacturers are interested in refocusing their supply chains into Europe. Dubai-based port and logistics company DP…

Brexit has resulted in a ‘significant decline’ in trade flows with the EU

UK-EU trade flows have fallen by 16%, while EU-UK trade has dropped 20%, since Brexit, according to a report today by the Economic and Social Research Institute (ESRI). Source

Ocean carrier voyage blankings causing chaos and confusion for shippers

Ocean carriers are ramping-up their vessel blanking programmes from Asia as export demand weakens, but last-minute cancellations are causing chaos in supply chains and confusion within liner offices. Moreover, shippers are having to navigate their way around ‘officially’ announced blank sailings and voyages pulled just days before arrival in China and held off the loading…

ITA Airways Cargo and cargo.one partner for digital sales channel

PRESS RELEASE ITA Airways Cargo partners with cargo.one to kick-start its first ever digital sales channel ITA Airways marks a further step in its commitment to digital transformation by marketing its capacities to thousands of freight forwarders worldwide using the leading marketplace, cargo.one Launch enables ITA Airways Cargo to broaden its reach and enhance quality…

New lockdowns in key Chinese transport hubs hobble supply chains again

Lockdowns in key Chinese port cities are again hampering supply chains, despite a “muted” peak season. And President Xi gave no indication of a change to China’s zero-Covid policy at the Communist Party Congress this week, where he is expected to obtain a record third five-year term in office. Indeed, in what has now become…

US airports need a $5bn government injection to upgrade cargo infrastructure

Air cargo organisations are urging the US government to inject up to $5bn in additional funding to tackle an “infrastructure crisis” facing air freight facilities.  Source

With volumes and revenue falling in Q3, it’s a bumpy road ahead for US trucking

The US truckload sector experienced sequential decline in freight volume as well as in shipment spend in the third quarter Source

Against the odds: Mainfreight – the ‘dead wood’ allure

A firm’s corporate story is one thing, but its stock story is entirely different: seldom has this been more relevant than with New Zealand’s Mainfreight (MFT), a crown jewel in the T&L arena. Fair point? I certainly think so. Briefly: trading at between 1.4x (trough) and 2x (ceiling, fiscal 2021) EV/revenues in the fiscal 2020-22…

On the wires: One from ‘stay-fluid’ JB Hunt – watch your bad debts!

To set the mood for the opening of earnings season in transport and logistics stateside, the conference call with JB Hunt management didn’t produce any particularly good vibes, but rather pointed to a transition period for the $17bn-market-cap trucking and intermodal player. Nonetheless… Some worthy nuggets* deserve a mention – concerning bad debt claims, in…

KlearNow expands into Spain to expedite customs clearance

PRESS RELEASE Santa Clara, Calif. – (Oct. 18, 2022) – KlearNow, a pioneer in smart logistics as a service (LaaS), expands into Spain to help improve customs clearance processes at the country’s 15 major ports. Spain plays a critical role in managing the Mediterranean sea trade that keeps Europe, Africa and the Middle East connected.…

FDA Seeks Permanent Injunctions Against Six E-Cig Manufacturers

The U.S. Department of Justice, on behalf of the FDA, filed complaints for permanent injunctions in federal district courts against six e-cigarette manufacturers. Source

M&A radar: Poker-faced GCT bidders line up for New York terminals

The latest M&A rumour doing the rounds in US port circles is swirling over Global Container Terminals’ (GCT) two box facilities in the port of New York & New Jersey, the country’s largest east coast hub. Bloomberg reports, via “people familiar with the matter” (because no player will confirm or deny anything about what follows)…

HVC Cigars Black Friday 2022 Shipping in October

HVC Cigars has released details for its upcoming Black Friday 2022 limited edition cigar, due out at the end of October 2022. Source

EU votes for world’s first green shipping fuel requirement of 2%

It may seem like a low target, but every little helps, as they say. This morning, the EU voted to introduce a 2% mandate for green shipping fuels by 2030. The parliament also reduced incentives for fossil gas by introducing stricter GHG targets, which will shorten the lifetime of LNG as a compliant option. Transport…

New CAO Vision Releasing in November

Nearly two years after its first release, CAO Cigars is releasing a new version of the CAO Vision, due out in November. Source

Idle containership fleet set to surge as liners rationalise networks

The number of container vessels in lay-up is increasing exponentially as liner networks are rationalised to mitigate a significant downturn in demand. Source

News Podcast | October 2022 | US Cargo Wars: East Coast vs West Coast

If you think East Coast versus West Coast is all about rappers, think again. In Part 2 of this episode The Loadstar examines cargo shifts in the US this year from a global perspective and from a port operator’s viewpoint. Host Mike King speaks to Peter Sand, chief analyst at Xeneta, and Stephen Edwards, CEO and…

AF-KLM Cargo greener aviation fuel offer follows DHL ‘strategy error’

AF-KLM Cargo has mitigated one of the risks in offering sustainable aviation fuel (SAF) to customers, by giving them an option of how much SAF to use in each flight they book. Source

Want to see the future? Roll up to go on an innovation journey in Miami…

Innovation, as a topic of discussion at a conference, can be surprisingly dull – frequently linked with digitisation, it is often presented by companies that aren’t really innovating or disrupting, but just pushing a new digital idea, standard, or customer enhancement. Innovation should, instead, be surprising and interesting; it should focus on disruptive ideas, start-ups,…

CNBC: Meta ordered to sell Giphy by UK competition regulator after failed appeal

CNBC reports Meta, the owner of Facebook, “has been reordered by U.K. competition regulators to sell its animated GIF unit Giphy after losing an appeal against the initial decision. “Citing the risk of a substantial lessening of competition in the social media and display advertising market, the Competition and Markets Authority said Tuesday that Meta must ‘sell…

Against the odds: DSV, Mærsk, DP-DHL & Kuehne – ‘supernatural’ rally on

Rewind. For the cool stock value chasers, Thursday 13 October was a memorable day. We witnessed one of the biggest ever reversals in a single trading session, with the three benchmark US indexes swiftly plunging by about 2%, then rising to close up between 2.2% (Nasdaq) and 2.8% (Dow), all in less than a few…

China’s transport giants languish among the lowest-ranked for sustainability

Chinese shipping, air cargo, and land transport majors, including China State Railway Group, Cosco and China Post, have ranked poorly in a new sustainability benchmark report. Source

Australian shippers cry foul over liners’ ‘exorbitant’ million-dollar charges

Australia’s Freight and Trade Alliance (FTA) has accused container carriers of extorting millions of dollars from its members through the imposition of “exorbitant, unfair” charges. Source

Major shipper clients approve India’s Snowman moving into 5PL services

Snowman Logistics, India's largest cold chain solutions provider, has begun offering 5PL services to its customers.  Source

Port of Hamburg and Unifeeder find cleaner alternative to polluting truck shunts

An initiative by the Port of Hamburg in partnership with Unifeeder will see feeder ships deployed to transfer containers between the port’s container hubs. Source

Salesforce shares jump on report that Starboard has taken a stake

REUTERS writes: Starboard Value LP has secured a stake in Salesforce, the activist investment firm’s founder, Jeff Smith, told CNBC. “Shares of the software firm rose more than 7% in trading before the bell. Salesforce and Starboard did not immediately respond to Reuters’ requests for comment,” it added. More: Here’s the CNBC story. PS: CRM stock up…

SA: New Jersey AG files suit against five big oil companies including Exxon

SEEKING ALPHA reports: The New Jersey Attorney General said a lawsuit was filed Tuesday against five major oil producers, alleging the companies “knowingly made false claims to deceive the public about the existence of climate change and the degree to which their fossil fuels products have been [exacerbating] anthropogenic global warming.” The lawsuit filed in New Jersey Superior…

Tobacco Asia Podcast #14: The Luxury of a Self-Igniting cigarette

Rom Soriano is a young Israeli who invented something that sounds just as crazy as it sounds intriguing: the self-igniting cigarette. But how does it work? Source

XPO releases preliminary Q3 22 results & long-term targets

PRESS RELEASE  XPO Logistics, Inc. (NYSE: XPO), a leading provider of freight transportation services, has released the following results in advance of its third quarter 2022 earnings announcement and conference call.   For the third quarter 2022, the company expects to report: – Revenue of approximately $3.04 billion – Operating income of $181 million to…

Tepid Amazon US Prime event deepens industry pessimism for Xmas shopping

Amazon’s ploy to pre-empt competition by pushing its Prime event ahead of the traditional frenzy on Thanksgiving next month, failed to rake in windfall profits. Source

Shipping lines seek to reverse South Korean fines for collusion over rates

Fifteen liner operators have filed an application with the Seoul High Court in an attempt to overturn the Korea Fair Trade Commission’s (KFTC) fines for fixing freight. Source

Transnet unions reject new offer and South African port delays lengthen

Port delays in South Africa have risen more than 100% since the Transnet strike hit supply chains. Source

MSC Air Cargo appoints Anders Matikka to head operations and compliance

MSC has strengthened its new airline team with the appointment of former Emirates SkyCargo executive Anders Matikka. Source

Market Insight: Think Brad Jacobs leading FedEx – ‘Stretched. But…’

Stretching brains is great exercise to do, and with all sorts of talk surrounding FedEx spicing up our circles, the “what if” scenarios abound. And so the back and forth with Mr Gold and a few others has seldom been more instructive. And intense. And creative. You sniff changes in Memphis. Prompted by institutional investors,…

Supply chain radar: Hey mate, heard about Hino-gate? It’s a scandal

As the 50th anniversary of Watergate passed in June 2022, Japanese truck manufacturer Hino was having its own sordid past investigated.  As an Australia-based road transport manager, this is right in my wheelhouse. At least VW made an effort to cheat “Have you heard about the Hino class action?” one of my company’s owners texted…

OceanX radar: Doom & gloom at the IMF; China’s new plan; Bought in the US of A

This week finds me finally back in Switzerland! (Next up is Miami on the radar next month.) Gold medal goes to the IMF, not because I am a huge fan of Gita Gopinath, but because its October forecast provides a good gauge of the transportation demand outlook. It is not happy reading, but here’s some…

MPV operators under the cosh as ocean carrier radar turns on their cargo again

General cargo multi-purpose (MPV) and heavylift fleet operators are seeing their cargoes come back under attack from ocean carriers. Source

FDA Offers Updated on Non-Tobacco Nicotine Product Review

The FDA offers an update on its progress reviewing nearly 1 million applications related to non-tobacco nicotine products. Source

Bottlenecks at North Europe deepsea ports the real cause of barge delays

Contargo is to expand its inland terminal at Frankfurt’s Industriepark Hoechst but concerns linger over bottlenecks at north Europe’s deep-sea ports. Source

Blockbuster Results: Serino Cigar Co.

Anthony “Tony” Serino entered the cigar industry soon after selling his South Florida video rental store business nearly 30 years ago. With the money he made from the sale of his business, Serino decided to launch a new business based on his passion: cigars. Serino started off his new tobacco business by purchasing cigars in…

Snapshot: Bull turns into bear on XPO Logistics – big downgrade comes

Remember last week’s coverage of XPO Logistics by yours truly (with the crucial help of those in the know)? We talked about “XPO fatigue“, which in hindsight was quite appropriate, it seems. Because today Deutsche Bank, a stock bull turned into bear – it has often supported the stock – told investors that we need…

UK U-Turns on Anti-Smoking Action Plan

Speculation is rife that the UK government will not be pursuing its anti-smoking plans announced this summer. Source

Essentra Filters Sold, New CEO

Essentra PLC announced the sale of its filter business, the completion of the sale of its packaging business to Mayr-Melnhof Group, and the appointment of a new c.e.o. Source

Flavor Ban on the Ballot in CA

Californians will decide the future of the state’s flavored tobacco business through a referendum vote on whether or not to uphold a 2020 state law that bans the sale of flavored tobacco products to anyone under 21 years of age. Source

Menthol Makes up 40% of US Market

The US Food and Drug Administration’s (FDA) proposed ban on menthol cigarettes may have even more of an impact as a new study conducted by the City University of New York and the Columbia University Mailman School of Public Health found… Source

RLX Releases Annual CSR Report

RLX Technology, known for its RELX-branded e-cigarette products, released its annual corporate social responsibility report Envisaging a Better Future recently, highlighting its efforts in market responsibility, r&d investment… Source

Efforts to Include Farmers in Regulatory Consultations

In August 2022, the International Tobacco Growers’ Association (ITGA) returned to in-person meetings for the first time since the start of the Covid-19 pandemic. In fact, the 2022 Americas Regional Meeting… Source

Thailand: Opening a Can(nabis) of Worms

On June 9, Thailand became the first country in the entire continent of Asia to completely remove cannabis from its narcotics list, making it entirely legal and accessible to all and sundry. The news caused ripples of incredulity… Source

IHEA x Toop: New HNB Products Launched in Malaysia

JP Signature International Sdn Bhd, along with China Tobacco Anhui proudly launch their latest patented HNB (heat not burn) tobacco products in Malaysia. The products – IHEA and Toop represent a technological breakthrough in new patented technology. Source

PB: Is private equity a Ponzi scheme?

PITCHBOOK reports: For anyone working in finance, having your industry compared to a Ponzi scheme is less than ideal, to say the least. Unfortunately, for the private equity sector, this is what it has come to. Over the past couple of months, two high-profile investors—and a veritable horde of Twitter commentators—have likened some parts of…

SmartLynx Airlines plans to have 20 A321F units in 2023

PRESS RELEASE Latvia-based SmartLynx Airlines, a global ACMI charter and cargo operator, has announced an addition of four A321Fs to its growing cargo fleet to ensure flights in Europe, Asia, Africa, and South America. The additional freighters will bring SmartLynx’s fleet to a total of 15 active aircraft of this type by H1, 2023, with…

Tide of US shippers fed up with import delays look to near-shoring instead

US shippers are looking to Latin America for manufacturing in a bid to cut transport costs, as nearshoring begins. Source

Broken cranes see China-Europe rail schedules hit the buffers, hard

The China-Europe rail freight network is suffering congestion and delays from two broken down cranes on the Kazakhstan border with China. Source

DHL to act as a ‘mystery shopper’ for new e-commerce retailers

DHL Supply Chain’s e-commerce division has launched a ‘mystery shopper’ programme for potential online retailers as part of its expansion in the e-commerce logistics sector. Claire Lannou, EMEA VP of business development of e-commerce at DHL Supply Chain, told delegates at this week’s Reuters Supply Chain Europe conference in Brussels that, in preparation for discussions…

C-suite radar: New MD appointment at Kuehne Benelux rumoured

As you probably recall, the management changes that started with the appointment of a new CEO at Swiss forwarder Kuehne + Nagel, accelerated last month, after the departure of the previous commander-in-chief Detlef Trefzger. (It was on 2 September when we penned “Revolving doors“, as the company prepared for what is going to be a…

EC set to transform green investment as it drives Taxonomy regulation

Companies have been accused of overstating their green credentials through ‘greenwashing’, but a new EC regulation aims to end the practice and encourage environmental investment. As a result the commission is pushing ahead with its Taxonomy categorisation plans, with a second delegated regulation expected next year, according to Fotini Ioannidou, the EC’s head of maritime…

M&A radar: DFDS talks road transport turkey with Ekol

Danish ro-ro and logistics operator DFDS has confirmed that it’s talking to Turkish transport group Ekol Logistics about acquiring its international road haulage business. No price has yet been put on the possible deal, partly due to the way corporate acquisitions work in Turkey. “To ensure an efficient strategic dialogue for all stakeholders, a filing…

Evergreen joins compatriot lines in renegotiating shipping contract rates

Evergreen has followed its fellow Taiwanese carriers, Yang Ming and Wan Hai, in beginning to renegotiate contract terms with shippers. The carrier’s general manager, Eric Hsieh, said today: “We need to reduce the spread between the contract and the spot market. “Currently, individual cases are discussed according to the different agreed freight rates and the customer’s…

Load factors nosedive, pushing carriers to idle ships in a bid to ‘stop the rot’

Container spot and short-term freight rates from China remain under pressure after the Golden Week holiday, as sluggish demand obliges ocean carriers to take out more capacity. Reports to The Loadstar suggest vessel utilisation on sailings from Asia to North Europe this week was much worse than expected, with talk of load factors “below 70%”…

CNBC: UK’s Royal Mail reveals plans to cut up to 6,000 jobs by next summer

CNBC reports: Royal Mail revealed plans Friday to cut up to 6,000 jobs by next summer following a summer of strikes by postal workers in the U.K.  “We will be starting the process of consulting on rightsizing the business in response to the impact of industrial action, delays in delivering agreed productivity improvements and lower parcel…

On the wires: Stubborn DSV just won’t quit

DSV likes doing things its own way, copy that. Note to self: Stupid! And remember, I wrote earlier this year that by the time Dark November comes, the forwarder would have cleared the air with its next deal. It increasingly looks as if I may end up being wrong, but I don’t despair. It would…

TikTok plans foray into fulfilment, promising ‘a better e-commerce experience’

An unlikely player is preparing to enter the e-commerce fulfilment space, TikTok. Widely embraced by younger audiences for the plethora of entertaining videos on its social media platform, TikTok is recruiting managers in the US to set up a fulfilment operation not only for the US, but globally. It wants somebody who can manage a free…

AerCap and EFW enter agreement for up to 30 A321 P2F conversions

PRESS RELEASE Germany, 13th October 2022 – Elbe Flugzeugwerke GmbH (EFW), centre of excellence for Airbus Passenger-to-Freighter (P2F) conversions, announced today that AerCap Holdings N.V. (AerCap), a global leader in aviation leasing, has placed firm orders for 15 Airbus A321P2F aircraft conversions and an option for another 15 A321P2F conversions with EFW. The aircraft feedstock for the…

‘Jumpy’ airfreight market sees demand inch down and rates under pressure

Airfreight rates are falling, despite the run up to peak season as capacity grows and demand softens. Source

Blaze-hit and abandoned box ship TSS Pearl may have sunk in Red Sea

Unconfirmed reports suggest a small containership, which suffered a major cargo fire just forward of the crew accommodation block, has sunk in the Red Sea, off Saudi Arabia. Crew reported the fire last Wednesday and abandoned the vessel; the Jeddah Marine Rescue Coordination Centre picked up all 25 crew. VesselsValue AIS data shows the vessel…

MSC may be gearing up to be ‘master of its own destiny’, outside the 2M

According to Alphaliner data, MSC’s orderbook now stands at an eye-watering 1.76m teu, equivalent to the total capacity of the fifth-largest ocean carrier, Hapag-Lloyd. The statistic has left some questioning the future of the 2M Alliance. Alongside its massive newbuilding programme, MSC has been very active on the S&P market, vigorously hoovering-up some 240 second-hand…

PayCargo wins latest legal battle with CargoSprint over name-change ‘confusion’

The long-running set of legal disputes between PayCargo and rival CargoSprint has finally come to a close, resulting in something of a tie – and a lot of money in the pockets of lawyers. The latest news was a win for PayCargo, which has been suing CargoSprint on various fronts, with headline-grabbing claims such as…

Peel clashes with union as it warns of third strike at port of Liverpool

Port of Liverpool operator Peel Ports has confirmed workers will stage a third two-week strike at the end of the month. Port director at the container terminals Richard Mitchell said Unite, representing the dockers, had “confirmed” industrial action would take place from 24 October to 7 November just three days into the current strike. The…

CNBC: Dow drops 200 points, S&P 500 falls to the lowest since 2020 after another hot inflation report

CNBC reports: Stocks fell Thursday morning and the S&P 500 fell to its lowest level since 2020 after a key consumer inflation report came in hotter than expected, signaling that the Federal Reserve will likely continue with aggressive interest rate hikes. The Dow Jones Industrial Average fell 233 points, or 0.82%, and also briefly hit…

CNBC: Dow rallies 600 points in huge market turnaround following hot inflation data

CNBC reports: Stocks rose in volatile trading Thursday,  recovering from steep losses earlier in the session, as traders assessed the latest U.S. inflation data and what it means for the Federal Reserve going forward. The Dow Jones Industrial Average rose 423 points, or 1.45%, recovering from a 500-point drop earlier in the day. The S&P…

Sharing space can save LTL shippers costs and time, and they’re Flocking to it

Flock Freight is changing LTL by leveraging technology to allow multiple shippers to share space on truckload carriers, paying only for the space they take. Source

Against the odds: Enchanted by Amazon’s (transpac ocean) deluxe growth pattern

“Amazon seeks to capture more of the value chain” was the catchy headline from Transport Intelligence this week. The research house wrote that in the past few weeks, “it has come to the attention of a few news outlets that a dedicated unit of Amazon – The ‘Pan-Amazon Team’, has been engaging with clients of their…

M&A radar: Unloved SATS + WFS – hard to handle, hits another low

It wasn’t such a bad day in Asia trade, with most indexes flattish, but it was a day to forget for Singapore’s SATS, the buyer of Worldwide Flight Logistics. The ‘M&A put’ isn’t working just yet. Its stock* hit another 52-week low of S$2.82 on thin reported volumes, closing at S$2.84, which is perilously close to…

South African shippers eye air cargo as Transnet strike wreaks havoc

South Africa exporters are facing major disruption as a strike at Transnet could see backlogs of 60 days. Source

Supply chain radar: Huge layoffs delivery for integrated logistics?

Playing with the numbers when they relate to people is more troubling, let alone less fascinating, than when it relates to money – yet both are often intimately tied to the same rational, two sides of the same coin: corporate profits. Or basis points, as you wish. So I thought it would be a good…

India’s air cargo market takes a hit as forwarders face 18% tax on exports

Indian airfreight forwarders facing an 18% Goods and Services Tax (GST) imposed on export freight charges.  Source

‘Significant risk’ to 2023/24 liner profits as box rate spiral gathers speed

Accelerating freight rate erosion across the major shipping tradelanes is causing analysts to revise predictions of a ‘normalisation’ of the container market. According to a new HSBC research paper, at the current speed of spot rate erosion, market rates could fall to 2019 levels as early as the end of this year –previous expectations were…

Maersk and MSC look to US skies as they push into integrated logistics

Maersk today opened its new Chicago Air Freight Gateway, outside O’Hare (ORD) airport, serving as its hub for Rockford International Airport. Source

Cargolux reveals it will buy 10 777-8Fs, with options for six more

Cargolux is to buy 10 Boeing 777-8Fs with options for six more. Source

SCD: Walmart laying off 1,500 at Atlanta-area fulfillment center

SUPPLY CHAIN DIVE reports: Dive Brief: – Walmart by Dec. 2 will lay off 1,458 employees at a facility in Fulton County, Georgia outside Atlanta, according to a filing with the state’s department of labor. – Rival Amazon similarly has scaled back its fulfillment capacity after embarking on a massive expansion amid surges in online…

The Big Interview: The world according to shippers

In this Big Interview, The Loadstar Podcast editor and producer Mike King gets the view of the freight and shipping world from the perspective of shippers, as he interviews James Hookham, secretary general of the Global Shippers’ Forum. We ask why shippers still want reform of the liner industry, even as rates decline? Also discussed are…

UK traders return to CHIEF after glitches in new customs platform

Concerns are mounting that traders will switch back to the UK’s previous – but still operational – customs system as IT platforms struggle to interface with its successor. Source

Coming up for sale: Korean shipping line HMM, but it will be expensive

HMM's second-largest shareholder, Korea Ocean Business Corporation (KOBC), has proposed reducing its stake in the operator and to abolish its joint management over the company by 2024. Source

Market Insight: ‘XPO fatigue’ is widely felt ahead of break-up 2.0

Of all the corporate love affairs we have covered in the past, XPO Logistics is the most noteworthy. And there’s no denying we would want not one, but 100 or 1,000 Brad Jacobs leading the show in transport and logistics. But with break-up 2.0, post-GXO, approved yesterday by the board of directors – the newly…

E-commerce group Zongteng offers capacity to 3PLs on new 777 freighter

Zongteng, a Chinese ecommerce logistics provider has taken a step into aircraft ownership, operations – and capacity sales. Source

Maersk and MSC cull Asia-North Europe capacity as bookings founder

2M carriers Maersk and MSC are suspending more headhaul services from Asia as global demand plummets. Source

Transnet strike could worsen, say South African unions

Two Transnet unions, covering 80% of the South African transport authority’s staff, have gone on an indefinite strike, affecting all ports in the country. While the two sides are now negotiating, the perishables business in particular is going to suffer, according to fruit exporter associations. So far, claimed the unions, Transnet has offered a “ridiculous”…

Geodis completes acquisition of Need It Now Delivers

PRESS RELEASE GEODIS, a world leader in transport and logistics, today announced it has completed its acquisition of American company Need It Now Delivers following regulatory approvals. The acquisition significantly expands GEODIS’s U.S. presence in the areas of contract logistics and final mile delivery and strengthens its end-to-end freight network domestically and internationally. Based in…

Logtec start-up Zeus nets £1.8m in angel funding round

PRESS RELEASE The angel funding round comes after Zeus achieved 326 per cent growth in total volume in 2021 Significant investors include Ahmed Abou Hashima, former Chief Executive Officer of Egyptian Steel, Jai Shroff, Global CEO of UPL Ltd, and Robin Ladow, Founder of Marl Capital and Lead Investor UK-based logtech startup Zeus, which is…

A: TikTok chases Amazon with plans for US fulfillment centers

AXIOS reports: TikTok is planning to build its own product fulfillment centers in the U.S., creating an e-commerce supply chain system that could directly challenge Amazon, as indicated by more than a dozen new job openings posted in the past two weeks to LinkedIn. Why it matters: The move signifies TikTok’s commitment to e-commerce as its…

XPO approves RXO spin-off, appoints new CFO

XPO Logistics today announced “that its board of directors has approved the previously announced separation of its tech-enabled brokered transportation platform through the distribution of all of the outstanding shares of common stock of its wholly owned subsidiary, RXO, Inc., to holders of XPO common stock. “The separation, once complete, will create two transportation leaders…

CNBC: Nasdaq closes at two-year low on Monday, hurt by slumping chip stocks

CNBC reports: Stocks closed lower on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of spiking interest rates. The Nasdaq Composite closed 1.04% lower at 10,542.10, hitting its lowest close since July 2020, weighed down…

TRB: The Investor Opportunity Index hits a two-year high

The Reformed Broker writes: Every bear market has these two things in common: 1. They end 2. Expected returns go up The first thing is self-explanatory. The second thing should be obvious but from my talks with thousands of investors over the years, I have found that it is most certainly not intuitive to most…

The Return of Rocky Patel Olde World Reserve

As of September 2022, Phillips & King has become the exclusive distributor of Rocky Patel's Olde World Reserve. Source

Ti: Web3 and the Metaverse, the coming logistics revolution – Part 1

Transport Intelligence writes: Successful technologies tend to arrive in waves. But history has shown that invention and adoption are not necessarily in sync. However, when they do coincide, there can be significant disruption that has the potential to reshape industries and supply chains. Imagine if it were possible to identify every item in a global supply…

Forwarders hit by huge D&D bills as Pakistan floods prevent box returns

Shippers and forwarders operating in Pakistan, often to landlocked Afghanistan, that can’t move their boxes because of the floods, are facing detention & demurrage (D&D) bills of hundreds of thousands of dollars as shipping lines refuse to waive the fees. One forwarder, Mohammed Tahir told The Loadstar: “We face massive losses due to the flood…

Air cargo players can wave goodbye to a peak season as the market softens

The air cargo industry should expect a non-existent, or muted peak, as rates and volumes continue to slide. Source

Against the odds: Porsche IPO – lessons for DB Schenker

As you may have noticed, luxury carmaker Porsche AG has managed to blossom into a brand new listed company and, despite heightened volatility and risk-off prevalence at the time its IPO was executed in late Q3 22, so far so good: not only did it make it but its traded stock is doing quite well on…

On the wires: SCFI struggles, freight rates plummet – to 2019 levels by Christmas?

“Good morning, you wanna start with airplanes or ships? Ok let’s start with airplanes.” That was a question on camera from a pressing Bloomberg reporter at the end of last week. He asked Parash Jain, global head of shipping and ports and head of Asia transport research at HSBC, how the broader outlook in transport and…

German competition authority backs reform of box line block exemption

Germany’s competition authority, the Bundeskartellamt, has backed opponents of any plan to extend the box line block exemption (CBER) and said it should be reformed, or phased out. Source

NAiSE and Pilz establish partnership

Pilz is expanding its range for the safe use of driverless transport systems by cooperating with the material flow automation expert NAiSE. Source

OceanX radar: Supply and demand? It’s the law of the jungle

Exciting days in South Africa, catching up with friends and partners in Johannesburg and spending some time in the bush since mid-week. The law of the jungle, with its winners and losers, is abundant in metaphors to illuminate aspects of our industry. First that springs to mind is the balance of supply and demand. In…

DispatchTrack unveils industry-first CO2 tracking tool

DispatchTrack, a global leader in last mile delivery solutions, has announced the availability of AI-powered carbon emissions tracking. Source

Shippers re-route cargo overland from southern India to Nhava Sheva

Southern India shippers – generally tethered to trans-shipment options via Sri Lanka’s Colombo Port – are increasingly rerouting cargo via terminals in Nhava Sheva/JNPT, aided by end-to-end logistics carrier arrangements. Source

Antwerp-Bruges €335m terminal renewal underway

Port of Antwerp-Bruges and PSA Antwerp has given the green light for the renewal of the quayside and terminal at Europa Terminal. Source

Despite fall in liftings, OOCL sets the bar for another quarter of dynamic earnings

The Q3 ocean carrier reporting season has kicked off with the release of OOCL’s third-quarter turbo-charged operational numbers. Source

Scandit launches 10x faster scanning solution

Scandit, a leader in smart data capture, has launched MatrixScan Count, a scan and count solution for received goods and inventory. Source

Union claims Peel Ports restructure/redundancy plan is revenge for strikes

Peel Ports has been condemned for the timing of a planned restructuring of its container division on the eve of industrial action, with the move described as “revenge” for the strikes. Source

Autoliv’s Supply Chain Risk Management Journey

Autoliv has kicked off a comprehensive program to improve their capabilities in managing supply chain risk. Source

Recession-Proof Sales

Learn how to adjust your sales strategy, empower your sales reps and keep your customers happy during challenging economic times. Source

Deutsche Post DHL publishes preliminary Q3 results, ‘will raise’ Ebit guidance

PRESS RELEASE  Deutsche Post DHL Group publishes preliminary third quarter results and will raise 2022 EBIT guidance – Group EBIT rose by 15% to around EUR 2.040 billion in third quarter 2022  – 2022 EBIT guidance will be increased on November, 8 CEO Frank Appel: “The breadth of our well diversified logistics services provides us with…

Unilode goes green with electric trucks from Briggs

Unilode Aviation Solutions has invested in electrification with the introduction of electric Hyster trucks from Briggs Equipment. Source

Against the odds: One unusual week in logistics with Kuehne on my mind

Wednesday cab pick-up at The Loadstar Towers, 4.30am. Direction: London Stansted Airport. The incoming emails and messages just wouldn’t stop. One from Asia even called. Then another. I wouldn’t bother talking. Several hours later… Landed in Bergamo, near Milan. For a change and to keep a cool head, still not engaging with anybody, I drove…

Supply chain radar: What Mærsk’s JCB win means for contract logistics

Yesterday’s announcement that AP Møller Mærsk Group (APMM), along with UK supply chain solutions provider Unipart Logistics, have won a five-year contract from JCB is an instructive step in its transformation into the integrator of container assets. Hitherto, much of the discussion around carriers’ attempts at vertical integration have centred on the threat it poses…

Ports can be a catalyst in shipping’s decarbonisation drive

In the drive to decarbonise shipping, much of the focus centres on reducing carbon emissions created onboard vessels, overlooking the critically important role of ports. Ports are vital in the shipping chain but are also significant sources of pollution. Ports have a vested interest in the climate: physical infrastructure and port activities are vulnerable to…

FedEx and its pilots agree to mediation over dispute on pay and pensions

Contract negotiations between FedEx and its pilots are shifting to another level, with both sides turning to Washington for help. FedEx and the Air Line Pilots Association (ALPA), which represents its pilots, jointly filed a request for federal aviation with the National Mediation Board to unlock their stalled contract negotiations, which began in May 2021. ALPA…

Evri adds Tiger trailers to fleet

Evri has started the introduction of articulated box vans from Tiger Trailers in time to support the opening of its largest hub in Europe. Source

SGL launches ‘unique’ sea-air service via ‘secret’ Pacific gateway

Scan Global Logistics (SGL) has launched a “never-seen-before” sea-air cargo service, going via an undisclosed Pacific island gateway. Ocean freight is shipped from Asian origins to this “secret” SGL hub in the Pacific, where it is loaded on regular passenger flights into multiple US destinations. According to Greg Barnes, SGL’s senior tradelane manager for Asia,…

DX launches £750k electric vehicle programme with IKEA

DX has launched a three-year project to acquire a fleet of electric vehicles for use in its delivery and logistics partnership with IKEA. Source

N American governors in ambitious cooperation bid for zero-emission ports

Four regional governors, from California, Washington state, Oregon and British Columbia in Canada, are joining forces in a bid to transform their ports into zero-carbon emission operations. The move comes as the port of Los Angeles board reported an increase in greenhouse gas (GHG) emissions last year, compared with 2020, with sulphur oxides up 145%,…

Smart Locker startup at Parcel + Post Expo

Bloq.it is a Smart Locker startup new to the tech market. Nevertheless, it has shown non-stop and exponential growth over these past three years. Source

Maersk calls on global governments to drive production of more green fuels

Maersk Line has called on governments to boost the development of green energy by helping to make climate-friendly fuels such as green methanol competitively priced. It says thos would allow the industry to develop alternatives that will meet climate change goals. At the Singapore International Bunkering Conference today, AP Møller-Maersk’s head of decarbonisation business development…

Lödige chosen for JFK airport modernisation

Aeroterm has selected Lödige Industries to install a state-of-the-art automated cargo system at JFK Airport‘s new cargo facility. Source

Cosco bid for stake in Hamburg box terminal still hangs in the balance

Uncertainty remains over the purchase of part of Hamburg’s Container Terminal Tollerort (CTT) by Cosco. Port operator HHLA told The Loadstar German and EU authorities would decide whether Cosco should be allowed to purchase a 35% stake in CTT, which, though small compared with Hamburg’s other box terminals, is well-connected with the hinterland by rail. Last…

Caldwell Announces Cigar Product Discontinuations Due to Fire

Following the fire that burned down Tabacalera William Ventura, Caldwell Cigars announces several cigar lines will be discontinued soon. Source

Tech firm ranked as one of UK’s best employers

A fast-growing logistics technology business is celebrating after being named as one of the UK’s Best Tech Employers. Source

Spot rate carnage could result in more ships laid up, ‘with worse to come’

Ocean carriers could be forced to mothball more eastbound transpacific US west coast loops, and the vessels that operate them, to stop the extraordinary haemorrhaging of container spot rates which have halved in value in the past four weeks. According to today’s reading of the China-US west coast component of the Freightos Baltic Index (FBX),…

This Week in Logistics News (October 1

Logistics news: Walmart looks to sustainability, Amazon looks at marketplace, robots fill prescriptions, trucking woes, and more. Source

FDA Takes New Actions on E-Cigarettes Following Usage Study

The U.S. Food and Drug Administration issues a new warning letter and marketing denial order following the publishing of an e-cig youth usage study. Source

SA: Atlas, Poseidon confirm ‘meaningful progress’ in deal talks

SEEKING ALPHA reports: Atlas Corp. (NYSE:ATCO) +7.1% pre-market Friday after the company and the consortium led by Poseidon Acquisition Corp. said the two sides have made “meaningful progress” in negotiating a potential transaction at $15.50/share. Atlas (ATCO) cautions that no agreement has been reached, and it will make no further comments on the matter unless and until a…

PFS serves up fulfilment order at Laver Cup

Fulfilment provider PFS defied expectations when it achieved a 24-hour fulfilment order for OnRunning during the Laver Cup tennis tournament. Source

ZH: Are retail investors done? Biggest liquidation since 2020…

ZERO HEDGE writes: When it comes to the stock purchasing (and selling) habits of institutional and retail investors, even as the former had aggressively unwound their exposure throughout 2022 with both gross and net leverage at multi-year lows, retail investors showed remarkable stoicism, patience and resiliency. But all that changed in recent weeks, and according…

TBT: SATS aims to ‘reduce’ size of rights issue

The Business Times reports:  KERRY Mok, the chief executive of inflight caterer and ground handler Sats : S58 -1%, wants shareholders to know he is looking out for their interests. Since Sats announced some details about a proposed acquisition of Worldwide Flight Services (WFS) last week – details that included a potential rights issue to raise…

M&A radar: It’s overwhelming – FedEx takeover appeal gets thumbs-up

As provocative and stretched as a takeover of FedEx may seem, particularly if we assume a trade predator would win it rather than private equity, one thing clearly emerged after our “DSV Express” coverage on Tuesday: the speculators absolutely love the idea of Memphis joining forces with Copenhagen or Copenhagen joining forces with Memphis, if the…

M&A radar: SATS + WFS – getting into the nitty-gritty

“Asian markets mixed after strong US hiring, OPEC oil production cuts” was the headline from MarketWatch today, just as most indexes from the Far East fluctuated between -0.5% and +1%, after a strong session one day earlier. And while “methanol bunkering logistics in Singapore” tops the Google searches, it is SATS from the Lion City…

Air France KLM Martinair Cargo to expand digital offering with cargo.one

PRESS RELEASE The airline is upgrading its advanced multi-channel digital distribution model by adding cargo.one’s booking functionality alongside its own successful myCargo offering. This global partnership follows an extensive initiation phase with cargo.one that broadened reach and relevant customer traction. Berlin/Schiphol, 6 October 2022 – cargo.one and Air France KLM Martinair Cargo today unveiled a…

US trucker numbers shrink alongside margins, and big players eye takeovers

Thinning margins are taking their toll on the US trucking industry. Some are struggling for survival, while large competitors are taking over smaller players. Source

Amazon invests €400m in robotics and technology

Amazon has revealed that it has invested more than €400m in new technologies over the last three years, enhancing its fulfilment centres. Source

EU states eye UK’s troubled transition as Dutch migrate to Union Customs Code

European governments are expected to be watching the UK’s struggles in transitioning to its new customs system, as the Netherlands becomes the first member state to migrate to Union Customs Code rules. Source

o9 Solutions launches Supply Sensing

o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making, has launched Supply Sensing. Source

Rising costs push up breakeven bar for shipping lines as demand slumps

As mainhaul voyage results decline significantly, and more ships are taken out of service due to a collapse in demand, ocean carriers may be obliged to downgrade their outlooks for the full year. Source

Toyota’s Logiconomi Forum attracts over 500

Organised and sponsored by Toyota Material Handling Europe, the Logiconomi Forum connected senior logistics managers from across Europe. Source

Cathay Pacific Cargo rebuilds: ‘our culture is strong and we have a can-do spirit’

Hong Kong and Cathay Pacific are fighting back and trying to rebuild their damaged brands. Source

ALMAC 2022 to explore trending industry topics

The forthcoming Asian Logistics, Maritime and Aviation Conference (ALMAC) is the important thought leadership event of its kind in Asia. Source

Maersk and Unipart team up for five-year JCB supply chain contract

JCB has awarded a five-year contract to manage its global supply china to Maersk, with Unipart Logistics to run its UK warehousing Source

Editor’s Choice: Last Mile Delivery: Challenges And Solutions For Superior Consumer Experiences

Last mile delivery is the final leg of the supply chain that physically connects brands with consumers through the delivery of the purchase. Source

Walmart agrees to acquire robotics automation firm Alert Innovation

David Guggina, Senior Vice President of Innovation and Automation, Walmart US, writes: “Expanding Walmart’s Market Fulfillment Center Capabilities Through Automation ”. Guggina says:  “We are committed to exceeding customers’ expectations and serving them in new ways, whether it’s in a store, curbside or at their homes. For years, we have been making big investments in technology…

Briton joins pallet pioneers in Hall of Fame

Briton Neil Humphrey has been voted TRATON Logistics Leader of the Year and pallet pioneers have been inducted to the Logistics Hall of Fame. Source

Rail freight may be key to Iraq ambition to rival Jebel Ali and the Suez Canal

Iraq’s plan for its future mega-port to offer an alternative to other Middle Eastern ports, and even the Suez Canal, would depend on overload transhipment to Turkey, provided by state-owned Iraqi Republic Railways (IRR).  Source

On the wires: Liner shipping’s (head on the) block exemption

“We need the commission to think ‘out of the box’,” Global Shippers’ Forum director James Hookham told The Loadstar yesterday, as the deadline passed for submissions to the EC’s competition directorate on the renewal of the Consortia Block Exemption Regulation (CBER) – the European legislation that allows container shipping lines to operate in alliances, and…

Alert for cargo even as Vietnam becomes SE Asia’s fastest-growing economy

Backed by booming exports, Vietnam is on track to become South-east Asia’s fastest-growing economy this year – but there may be choppy waters ahead for cargo. In stark contrast with China, Vietnam’s GDP grew at the fastest rate in 12 years during the first nine months of the year, and is set to post 8.5%…

US warehouse market stays tight, and pricey, as it bucks rate decline trend

The US warehousing sector seems to be immune to the slowdown in demand that transport providers are experiencing. Source

RCL kick-starts predicted new round of boxship demolition as rates fall

Thai intra-Asia carrier Regional Container Lines has ended a nine-month drought in boxship demolitions. Source

Sustainability report marks Prologis’ partnership with Planet Mark

Prologis UK, a leading owner and developer of logistics property, is celebrating a successful 15-year partnership with Planet Mark. Source

Maersk continues fleet renewal with order for more methanol-fuelled ships

Six new 17,000 teu ships ordered by Maersk Line today with Hyundai will replace existing vessels when they are delivered in 2025 Source

ZigZag claims two European eCommerce Awards

Returns management solution ZigZag Global was presented with two awards at the inaugural European eCommerce Awards 2022. Source

Dramatic cuts to services as lines battle to hang onto ‘super-cycle’ profits

Ocean carriers are preparing to implement the severest cuts to liner services seen since the beginning of the pandemic, as demand levels plummet across global tradelanes. Source

2022 State Tobacco Legislation in Review

With the 2022 state legislative year coming to an end, the National Association of Tobacco Outlets looks back at tobacco legislative trends. Source

Packaging firm increases storage efficiency

Aranco has a versatile and agile 2,000 sq m warehouse equipped with AR Racking storage solutions in the town of Massamagrell. Source

“Mixed messages’ from government over UK regional airports DSA and Manston

Britain’s air cargo sector is facing mixed messages on regional airports – as one closes and another struggles to open – despite government pledges to boost growth. Source

Macanudo Collaborates with Napa Valley Boutique Winery

Macanudo Cigars announces a collaboration with boutique winery Flint Knoll: the limited edition Macanudo Estate Reserve Flint Knoll. Source

GXO completes Clipper acquisition – Logistics Business® Magazine

GXO Logistics has received regulatory clearance from the UK Competition and Markets Authority for its acquisition of Clipper Logistics plc. Source

DPW’s high-density automatic stacking system, Box Bay, to launch in Europe

Dubai port and logistics operator DP World has said the launch customer for its high-density container stacking system known as Box Bay will be in southern Europe, with an announcement set for next month. An automated, safe and environmentally friendly container yard stacking system has been under development since 2018, with a prototype at Dubai’s…

FourKites Visibility 2022: Learn. Connect. Be Inspired.

FourKites Visibility 2022 was a great show, and highlights the future of supply chain visibility across all modes. Source

Better and Best: DBL Cigars

A look at Francisco Almonte and DBL Cigars, a boutique cigar brand based in Tamboril, Dominican Republic that launched in 2013. Source

SA: OPEC+ to cut production by two million barrels a day

SEEKING ALPHA reports: Crude oil prices rise modestly following reports that OPEC+ has decided to reduce production by 2M bbl/day, the group’s biggest cut since 2020. November Nymex crude (CL1:COM) +1% at $87.40/bbl; November Brent crude (CO1:COM) +1.1% at $92.81/bbl. Stock futures add to earlier pre-market losses: Dow Jones -1.1%, S&P -1.2%, Nasdaq -1.3%… To read the full post, please click here (free reg.…

TII: Was that the bottom?

The Irrelevant Investor writes: Stocks got washed out in the third quarter. Whether you were looking at prices or people’s reactions to said prices, it was hard to find anything positive to say other than things are so bad they’re actually good. That might sound silly, but it’s not. It’s the truth. The riskier stocks…

Peli BioThermal launches cold chain shipping solution

Peli BioThermal has revealed its newest reusable, flexible temperature controlled shipping solution, Crēdo Go is designed to adapt to… Source

Blackstone in talks to buy Emerson’s assets for up to $10 bln

REUTERS reports: Emerson Electric Co (EMR.N) is in talks with U.S. buyout firm Blackstone Inc (BLK.N) to sell a part of its commercial and residential solution business assets, Bloomberg News reported on Tuesday citing people familiar with the matter. The deal, that could be valued between $5 billion and $10 billion, would depend upon how much of the portfolio changes hands,…

CNBC: Hong Kong’s Hang Seng pops 5% on return to trade; Asia markets rise after US stocks rallied

CNBC reports: Shares in the Asia-Pacific traded higher on Wednesday after U.S. stocks rallied for a second day. Hong Kong’s Hang Seng index surged 5.47% on its return to trade after a holiday Tuesday. The Hang Seng Tech index soared 7.4% higher. The Nikkei 225 in Japan rose 0.45%, pushing above the 27,000 level, while the Topix…

Shippers demand change as battle lines are drawn over EC review of CBER

The battle between shipping lines and their customers is heating up as the European Commission (EC) begins to consider whether it will extend the Consortia Block Exemption Regulation (CBER), which allows vessel-sharing. Source

M&A radar: DSV + FedEx – how does ‘DSV Express’ sound?

Certain conversations must be divulged, there’s no way around it. And one I entertained today is no exception. In a protracted brainstorming session with sources looking at corporate developments from far afield the DSV’s global headquarters, a few elements about “Danish M&A stateside” were certainly worth sharing. Firstly, for the gossip, insiders talked of a…

Against the odds: Near-shoring – is Mexico the real ‘real deal’?

The shipping industry has abundant detractors. Some unwisely predict disaster is coming as freight rates continue to weaken and relationships become more strained; others simply don’t see the forest for the trees as the mid-term for the container shipping sector remains bright and frisky, the bulls counter. But one crucial aspect that has been doing the rounds,…

Earnings season looms, with all eyes on the ‘health’ of Expeditors

The financial third quarter closed on Friday, and now all eyes are on what’s next when listed companies begin reporting quarterly results in about two weeks’ time. It is expected to be one the most exciting earnings seasons since the onset of the pandemic. First up is 3PL and intermodal firm JB Hunt from the…

Woods not on initial field list for Hero World Challenge

Tournament host Tiger Woods was not listed in the initial field for the 20-man Hero World Challenge in Albany, Bahamas in December that was released on Tuesday (Oct 4) but could still be added as three exemption slots will be named at a later date. Woods has played in three majors this year after a…

Charterers take back market control as containership hire rates collapse

The containership charter market bubble appears to have irrevocably burst, according to MSI’s Horizon September report. Source

Warehouse operators seek to optimise operations

A report commissioned by StayLinked provides insight on evolving warehouse operations and operator optimisation priorities. Source

‘Parcelisation’ the next big thing as B2B e-commerce sparks change in air cargo

b2b ecommerce set to spark changes in air cargo market as parcelisation grows. Source

UgoWork makes senior appointment – Logistics Business® Magazine

UgoWork, a Canadian provider of lithium-ion batteries and Energy as a Service (EaaS) solutions, has appointed a new Director of Sales. Source

Hapag-Lloyd in billion-dollar deal to buy Chilean port operator SAAM

Hapag-Lloyd's growing port and terminal empire will get a boost with the $1bn purchase of Chile's SAAM and its 10 facilities Source

Fraikin appoints new MD – Logistics Business® Magazine

Contract hire, fleet management and rental specialist Fraikin has appointed Peter Backhouse as UK Managing Director in a move which sees… Source

FedEx Corporation announces accelerated share repurchase program

PRESS RELEASE FedEx Corporation Announces Accelerated Share Repurchase Program MEMPHIS, Tenn., October 4, 2022…FedEx Corp. today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with Morgan Stanley & Co. LLC (“Morgan Stanley”) as part of the company’s previously announced share repurchase program. Under the terms of the ASR, FedEx has agreed…

BYD debuts new zero-emission trucks

BYD revealed two exciting zero-emission eTrucks to European customers at the recent IAA Transportation 2022 event in Hanover Source

TIACA appoints jury for the 2022 Air Cargo Sustainability Awards

PRESS RELEASE The International Air Cargo Association (TIACA) has appointed a group of six industry leaders, visionaries and sustainability champions to review and evaluate the 2022 TIACA Sustainability Awards submissions. The Awards, run in partnership with one of the leading industry IT solutions providers CHAMP Cargosystems, is now in its third edition. The Awards aim…

CMA CGM appoints box line veteran, Guillaume Lathelize, to head airline

CMA CGM has appointed a new head of its airline, after Olivier Casanova returned to his original post as deputy CFO of the group. Source

Combustible Tobacco Still Main Product

In 2021, cigarettes and combustible tobacco were still the predominant product, making up around 95% of retail sales volume across the 15 largest tobacco companies, according to the second edition of the Tobacco Transformation Index. Source

CTP Director’s Updated Stance on Vapes

Three months in his new role as the US Food and Drug Administration’s (FDA) tobacco chief seems to have given Brian King a changed perspective on vapes. Source

PMI Makes the Philippines’ Largest Investment in Heated Tobacco

Philip Morris International (PMI) announced it will be investing another PHP8.8 billion (US$150 million) in Philip Morris Fortune Tobacco Corp. (PMFTC), its Philippines affiliate… Source

BAT Increases Investments in Cannabis

British American Tobacco (BAT) made another investment in cannabis by acquiring a non-controlling minority stake in one of Germany’s leading cannabis companies, Sanity Group GmbH. Source

China’s Cigarette Market Shows Growth and Potential

In the first half of this year, China’s cigarette market showed the following characteristics: key brands maintained a faster development, with nearly two-thirds of the brands achieving growth in sales volume… Source

Natural Fertilizers Remain Under-Used in Indonesia

Chemical fertilizers continue to be enormously widespread throughout the global tobacco sector. Depending on the growing region, there is a range of reasons for that. Source

Four key factors shaping the future of warehouse automation

Available and emerging, high-performance warehouse technology will determine the future productivity of fulfilment operations. Source

Caravan Cigar Company: Always on the Move

How a family run, mom-and-pop brick-and-mortar tobacconist is thriving and growing in the age of online shopping. Source

F: Bitcoin mining as bad for planet as oil drilling, scientists say

Futurism.com reports: When it comes to environmental harm, Bitcoin mining is worse than extracting gold and comparable to the environmentally destructive industries tied to crude oil and cattle farming, a new study has found. Published in the journal Scientific Reports, new research out of the University of New Mexico makes a bold assertion that runs counter claim that…

Emirates SkyCargo and United Cargo announce landmark agreement

PRESS RELEASE London, 30 September 2022: Emirates SkyCargo and United Cargo signed a Memorandum of Understanding (MoU) that follows on the hee