South Korean car and manufacturing logistics player Hyundai Glovis saw its operating profit fall by 13.6% y-o-y to KRW 1.55tn (€1.08bn) in the 2023 financial year on revenues down by 4.8% y-o-y to KRW 25.7tn (€17.92bn).
Bolloré Logistics has carried out trials in Chennai, India, for finished cars export, revolutionizing the conventional RORO method with a containerized solution that integrates efficiency, safety, and cost-effectiveness.
Girteka has established new multimodal transportation services from Finland to Germany. The company can now offer more sustainable solutions utilizing its fleet capacity and connecting road transportation with ferry services.
Maersk Air Freight solutions can now be easily booked on Maersk.com for 70,000 airport pairs across over 90 countries with instant pricing and an option to combine them with value-added services.
To bolster the service coverage of the Shanghai gateway, Maersk is further expanding its LCL global consolidation network. This expansion entails the introduction of over 50 new trade lanes directly connecting to and from Shanghai, resulting in over 200 direct LCL routes facilitated through the Shanghai port.
A strong fourth quarter for its Logistics segment helped Canada based logistics company TFI International through the economic headwinds faced by the industry in 2023. Where the Logistics segment saw a 25.6% y-o-y uplift in revenue in the fourth quarter, overall operating income for TFI International in the full year was down 33.9% to US $757.6m, and overall revenues down 14.6% to $7.52bn.
Maersk delivered solid financial results for 2023, while volumes were up across most products and strong cost control helped improve results, rates continued to erode, particularly in Ocean. Revenue for 2023 was $51.1bn with an EBIT margin of 7.7% impacted by declining freight rates. Underlying EBITDA remains at $9.8bn, decreased from $36.8bn in 2022.
Waberer’s Group successfully completed another acquisition. The company acquired 51% of Petrolsped Group, one of Hungary rail logistics service providers active in Europe. In line with its strategic goals, Waberer’s has entered the special transport segment that currently mainly uses rail services.
Maersk’s integrated logistics capabilities will provide PUMA with the capacity to oversee inventories both at origin, in transit, and now including destination, as well as other value-added services. The solution includes the implementation of the Maersk WMS, a user-friendly, cloud-based tool designed for seamless inventory life cycle management.