The start of 2024 has proved to be somewhat unexciting for Kuehne and Nagel. The logistics service provider’s just published Q1 2024 results show that, in the face of some quite volatile markets, the company saw its performance suffer.
Daniel Křetínský has finally made his offer for Royal Mail. The Czech investor who has held 27.5% of International Distributions Services Plc (IDS) shares for several years, has made an offer for the holding company of the Royal Mail and GLS of UK£0.320 per share.
The situation in the Middle East has worsened. There are now threats both to sea and air freight transport across most of the region. It also appears that types of cargo beyond just container cargoes are threatened.
The logistics infrastructure of South East Asia continues to develop, even if its progress is politically controversial. For example, Port Klang, in Malaysia, is embarking on its plan to double container handling capacity from 14m TEUs at present, to 27m TEUs in 15 years time and increase the number of container terminals from 9 to 17.
The situation in the Red Sea may be deteriorating. A series of media reports are stating that the Houthis have launched missile attacks against several different ships in the Red Sea, off the coast of Yemen, and in the Indian Ocean.
Wincanton announced that it is set to acquire Invar Group Limited (Invar), a UK-based specialist in warehouse execution software, automation and controls.
The European Union’s attempt to force companies to adopt more stringent ethical and environmental due diligence in their supply chains looks as if it will finally be successful. After years of debate and negotiation, the EU Council voted to adopt the Corporate Sustainability Due Diligence Directive (CS3D) on March 15 2024. Members will now have two years in which to transpose the law into national legislation.
There is some evidence that the Red Sea crisis is supporting air freight demand, although many locations beyond Europe and the Middle East are also seeing a stronger market.