Ferrulli named president-North America of Unicon Logistics Amir Maghami, CEO of Unicon Logistics, has announced the appointment of Gary Ferrulli as president of North America for the Los Angeles-based NVOCC and logistics services provider. “Naming Gary Ferrulli as president of North America gives us access to his vast experiences as a senior manager in […]
Read More →NOL sells APL Logistics to Kintetsu for $1.2 billion
on February 17, 2015in Uncategorized
NOL sells APL Logistics to Kintetsu for .2 billion HONG KONG — Neptune Orient Lines has sold APL Logistics to Kintetsu World Express for $1.2 billion in a stunning deal that gives the Singapore-listed group a net gain of more than $900 million.The proceeds will go towards strengthening the group’s balance sheet after four consecutive […]
Read More →NOL halts trading as news of APL Logistics $1.2 billion sale breaks
on February 17, 2015in Uncategorized
NOL halts trading as news of APL Logistics .2 billion sale breaks HONG KONG — Neptune Orient Lines suspended trading this afternoon as news broke in Japan that its forwarding arm, APL Logistics, was to be bought by Kintetsu World Express for $1.2 billion.The reason given for halting trading on the Singapore Exchange was simply, […]
Read More →DB Schenker grows Asia-Pacific footprint with India, Cambodia investment
on February 13, 2015in Uncategorized
DB Schenker grows Asia-Pacific footprint with India, Cambodia investment HONG KONG — DB Schenker strengthen its presence in Asia in January with the opening of a new company in Cambodia and a last-mile logistics centre in eastern India.The German logistics services provider opened its DB Schenker Logistics Centre (SLC) in India’s eastern region of Patna […]
Read More →Goodman China’s first half lifted by rising demand for logistics properties
on February 12, 2015in Uncategorized
Goodman China’s first half lifted by rising demand for logistics properties HONG KONG — Developer Goodman Group capitalized on the strong demand for prime logistics space in the country in the past six months, ending the first half of its financial year with 22 properties and 12 development projects.The Australia-listed logistics property developer has increased […]
Read More →US West Coast congestion ripples through supply chains
on February 9, 2015in Uncategorized
US West Coast congestion ripples through supply chains Containers stacked at the Port of Oakland Jan. 9, 2015. The port loads and discharges more then 99 percent of containerized goods moving through Northern California. Photo credit: Sheila Fitzgerald / Shutterstock.comAs negotiations between the International Longshore and Warehouse Union and waterfront employers drag on, the impact […]
Read More →US antitrust suit helps keep Kintetsu World Express in the red
on February 5, 2015in Uncategorized
US antitrust suit helps keep Kintetsu World Express in the red Major Japanese international freight forwarder Kintetsu World Express Inc. is still feeling the pinch of an antitrust class-action lawsuit in the United States, as it continued to bleed red ink in the first three quarters of fiscal 2014. The Tokyo-based company said on Thursday […]
Read More →Rising China demand sees GLP accelerate logistics property development
on February 5, 2015in Uncategorized
Rising China demand sees GLP accelerate logistics property development GLP’s growth in assets under management as at Dec. 31, 2014.HONG KONG — Global Logistics Properties (GLP) completed 6.8 million square feet of developments in China at a total investment cost of $308 million during the third quarter of its financial year.The Singapore-listed company expects to […]
Read More →China slowdown will have limited impact on container trade, carriers say
on January 29, 2015in Uncategorized
China slowdown will have limited impact on container trade, carriers say Container carriers such as OOCL expect to see continuing growth in volumes out of China, despite the country’s economic slowdown.HONG KONG — Container carriers and logistics service providers in Asia are confident that the steady growth in exports from China will not be heavily […]
Read More →Tight Hong Kong warehouse supply will test logistics budgets this year
on January 28, 2015in Uncategorized
Tight Hong Kong warehouse supply will test logistics budgets this year HONG KONG — A scarce supply of industrial land will continue to push up warehouse rentals in Hong Kong, keeping landlords in the pound seats while ramping up operating costs for third party logistics providers.In its annual market review of Hong Kong, CBRE said […]
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