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Financing for UPS Offer to TNT Express in Place

By editor
on May 14, 2012

UPS today announced it has the necessary financing in place for its intended recommended public offer for TNT Express N.V.

On March 19, 2012, UPS and TNT Express jointly announced conditional agreement on a recommended all-cash offer of €9.50 per ordinary share for TNT Express (the “Offer”).

The Offer values 100% of the issued and outstanding TNT Express ordinary shares at approximately €5.16 billion. UPS will finance the Offer by using approximately €3.7 billion of available cash on its balance sheet and approximately €1.46 billion in debt through existing credit facilities.

In line with regulatory requirements, UPS will submit a request for approval of its Offer Memorandum to the Netherlands Authority for the Financial markets later today. The Offer Memorandum is expected to be published and the Offer is expected to commence during the second quarter in accordance with the applicable timetable.

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Maersk Announces Q1 Financial Results

By editor
on May 16, 2012

The Group delivered a profit of USD 1.2bn (USD 1.2bn) and a return on invested capital (ROIC) of 10.0% (11.7%) for Q1.

 Excluding divestment gains and one-off tax income from the settlement of an Algerian tax dispute, the Group recorded a zero profit (profit of USD 1.1bn) and a ROIC of 1.1% (11.2%). Cash flow from operating activities was USD 1.2bn (USD 2.3bn) and cash flow 

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Fred Green, President and Chief Executive Officer, departing after 34 years of service.

Canadian Pacific Railway announced today the departure of Fred Green as President and Chief Executive Officer effective immediately. Mr. Green leaves the Company following 34 years of dedicated service.  In addition, Mr. Green has resigned as a director and will not stand for re-election at the Company’s shareholder meeting later this morning.

“The Board wishes to thank Fred for his dedicated years of service,” said John Cleghorn, Chairman of the Board.

The Company also announced that John Cleghorn, Tim Faithfull, Edmond Harris, Michael Phelps and Roger Phillips have advised the Company that they do not intend to stand for re-election. This decision was made after taking into account the views expressed by shareholders about the desire for Board change.

Once Pershing Square nominates all seven of its director nominees, there will be only sixteen candidates for the sixteen available positions on the Board.  Accordingly, it is expected that the Board will be comprised of the following individuals immediately following the annual meeting: William Ackman, Gary Colter, Richard George, Paul Haggis, Paul Hilal, Krystyna Hoeg, Tony Ingram, Richard Kelly, Rebecca MacDonald, The Hon. John Manley, Anthony Melman, Linda Morgan, Madeleine Paquin, David Raisbeck, Hartley Richardson and Stephen Tobias.

The new Board will meet shortly following the annual meeting.

FedEx to acquire Polish shipping company Opek

By editor
on Apr 11, 2012

FedEx has announced it has signed an agreement to acquire the Polish courier company Opek Sp.z o.o. (Opek), the company said the acquisition was the latest step in its strategy for growth in Europe.

Opek, a family-owned company, was founded in 1994 and has built an express network which covers the entire country. The company operates an automated hub in Lomianki, near Warsaw, and additional hubs in Lodz and Katowice. In total, it operates 44 stations throughout Poland. The company has estimated annual revenues of $70m and handles 12.5m shipments annually.

The acquisition of Opek will supplement the FedEx Express service portfolio in Poland and continue its European expansion. “In recent years, we have made significant investments throughout Europe, greatly expanding our network coverage and improving service to customers,” said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp. “Our presence in Europe is backed by strong leadership and management and dedicated team members. We have an excellent strategy that has steadily advanced our position in the region, and we are well positioned for profitable growth as we increase the number of direct-served locations in Europe.”

FedEx expects that this transaction will most likely close in the summer 2012.

Content provided in partnership with Transport Intelligence. 

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DHL transfers sea freight containers from road to rail

By editor
on Apr 11, 2012

DHL Global Forwarding/Freight, the air and sea freight forwarding arm of Deutsche Post DHL, is going to increase its use of rail transport for the transportation of containers to the loading terminals of selected shipping companies.

From now on, DHL will be using the rail network for consolidated freight containers which have to be transported from its transhipment facility in Bremen to the terminals of different shipping companies in Hamburg and Bremerhaven.

Previously, these containers were taken by road transport to the various sea freight terminals. By opting to keep goods off the road, the logistics company estimates it will be able to save approximately 365 tons of carbon emissions annually.

“Thanks to projects such as this changeover of container transportation between Bremen, Bremerhaven and Hamburg, we are able to implement our GoGreen programme, thus saving one ton of CO2 emissions daily. As much as 50% of a product’s carbon footprint is generated in the course of transportation. Together with the shipping companies, we will continue to develop environmentally friendly solutions for logistics processes in the future”, said Jürgen Klenner, Vice President, DHL Global Forwarding Germany, Strategy Business Program.

Content provided in partnership with Transport Intelligence. 

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DHL opens new logistics centre in Milan

By editor
on Apr 5, 2012

DHL Global Forwarding/Freight, the air and ocean freight specialist within Deutsche Post DHL, has opened a new €40m logistics centre near Milan, Italy.

With a total ground territory of more than 83,000 sq m and warehouse space of 26,000 sq m the facility bundles the services of DHL Global Forwarding and Freight into one facility and will serve as the central terminal for both business units in Italy.

Concentrating the competences of the two DHL entities and consolidating DHL’s presence in the region, a total of 500 employees will share 10,000 sq m of office space.

The new warehouse has 116 doors for loading and unloading, with ramps, one bridge crane, a dedicated area for air pallets, a semi-automatic multi-level warehouse for garments (on hangers), a temperature-controlled cell for cross-docking Life Sciences products, and a dedicated area for hazardous goods.

“Our new logistics centre is ideally situated in the strategically important region east of Milan, and provides the best infrastructure for air and sea transport in Italy. With dedicated areas for our specialised services, we are reinforcing our strategy to focus on the specific logistics needs of our various key industry sectors. The new automated vertical storage system for hanging clothes is designed to meet the needs of the Fashion industry. For the Food and Life Sciences sector, we have provided a refrigeration system meeting international standards to conserve their highly sensitive products”, said Thomas Nieszner, CEO DHL Global Forwarding Europe, Middle East and Africa.

Content provided in partnership with Transport Intelligence. 

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SNCF Geodis and Hupac sign strategic cooperation agreement for Europe

By editor
on Apr 4, 2012

SNCF Geodis and Hupac have announced they are joining forces to expand their combined rail transport networks on the east-west European route via France and Belgium.

Starting in April 2012, Hupac and SNCF Geodis will combine their networks via the Anvers- Dourges line, run by SNCF Geodis. The route will link Hupac’s European network with the French domestic combined transport routes operated by SNCF Geodis.

The company’s announced that their customers will have access to a network of combined rail transport linking the Iberian Peninsula to the Far East with daily or weekly connections to eastern Germany (Schwarzheide), eastern Europe (Poland and Russia) and China.

In Hupac’s shuttle network, Antwerp and Ludwigshafen are the platforms for intermodal links with Eastern Europe, Poland and Russia and as far as China. The new products will be marketed jointly by the two partners.

SNCF Geodis already runs the daily trains operated by Hupac between Ludwigshafen and Schwarzheide. Cooperation between Hupac and the SNCF group began in 2007 with the launch of a jointly run train between Antwerp and Perpignan, which has now been extended to Barcelona.

“With SNCF Geodis we are developing the potential of combined transport across the whole continent of Europe, including the connections to and from Barcelona on the new UIC line and the establishment of links between France and Italy via Modane”, stated Bernhard Kunz, Managing Director of Hupac.

According to Pierre Blayau, CEO of SNCF Geodis, “this strategic agreement is a decisive step towards achieving our commitment to expanding rail goods transport in Europe. I am delighted with this partnership, which confirms our ambition for combined transport.”

Content provided in aprtnership with Transport Intelligence. 

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Commercial vehicle registrations in Europe fall 11.3% in February

By editor
on Mar 28, 2012

According to the European Automobile Manufacturers’ Association, demand for commercial vehicles declined in February, with total registrations falling 11.3% compared with the same month in 2011(see Ti Dashboard – Commercial Vehicle Registrations: Europe).

In Germany registrations fell by 6.9%, while in France registrations declined by 3.2%. In the UK, Italy, and Spain registrations were also down 16.6%, 29.8% and 24.4%, respectively.

In contrast, Latvia, Bulgaria and Romania saw strong increases of 71.0%, 26.3% and 20.5%, respectively.

Content provided in partnership with Transport Intelligence. 

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New report: UPS acquisition sees it leapfrog DHL in Europe

By editor
on Mar 26, 2012

The acquisition of TNT by UPS will see the company leapfrog DHL to become the biggest express parcels company in Europe, according to market estimates contained in International Express Parcels 2012, the latest report from industry expert research company Transport Intelligence.

The combination of UPS and TNT will significantly change the market landscape, providing the US integrator with ground networks in Europe, Asia and Latin America. In Europe, it will leave FedEx trailing significantly in a distant third place, although the Memphis-based carrier is still dominant in the US and bigger than the UPS/TNT tie up in Asia.

The acquisition’s most significant impact will be in Europe where competition regulators are bound to take an interest. In several key country markets, UPS/TNT will become the single largest player, breaking through the significant 25% market share level; which always flags up an acquisition to the authorities. Despite this, Ti believes that following the acquisition, UPS will only have to make limited disposals, if any, as within individual market segments there is still a high degree of fragmentation.

According to John Manners-Bell, Ti’s CEO, the deal has been struck at a good time for UPS. “TNT became vulnerable to takeover as a result of the challenging market environment and internal operational and managerial difficulties. This has allowed UPS to opportunistically buy at the bottom of this particular cycle. Our market forecasts predict that the express market will grow strongly in the coming years buoyed by economic growth, international trade and e-commerce. UPS now has an even better platform to exploit these trends.”

About International Express Parcels 2012

International Express Parcels 2012 contains:

• Analysis of the state of the international express market in 2011 and its prospects for 2012.
• Discussion of the acquisition of TNT by UPS and its implications for the industry.
• Market shares, present and historic market sizes (globally and by region) and forecasts to 2015.
• Operational statistics for the major express companies.
• Profiles of DHL, TNT, UPS and FedEx including financial, operational and strategic insight.
• Key trends and developments in the sector.

For more information on International Express Parcels 2012, contact Sarah Smith on ssmith@transportintelligence.com.

Content provided in partnership with Transport Intelligence. 

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2nd Hi-Tech and Electronics Supply Chain Summit, Asia-Pacific

18/09/2012 – 19/09/2012, The Marriott, Orchard Road, Singapore

Senior Executives Discuss how to Optimize Hi-Tech Supply Chains to Reach New Customers Across Asia-Pacific and Boost Profits Across the Globe

New monthly survey reveals freight volumes expected to rise

By editor
on Mar 26, 2012

A new monthly index launched today by Stifel Nicolaus provides an insight into the confidence of air and sea freight forwarders on key trade lanes. The survey was conducted in the first week of March on a worldwide basis by global industry research organisation Transport Intelligence.

Highlights of the Stifel Nicolaus Logistics Confidence Index:

Air Freight Confidence Index registers 42.2 in March

The index for March for all trade lanes indicated low existing confidence among air forwarders. The index for the current situation registered 42.2, which at below the significant 50 mark indicates lower volumes handled relative to the time of year.

However, over the next six months conditions in the air freight market are expected to improve with the index for the expected situation registering 58.7.

Air forwarders were least confident on the Europe to Asia trade lane (39.2) and conversely most upbeat about the levels of freight they were experiencing on the Europe to US trade lane (46.6); although volumes are still lower than they would have expected.

Sea Freight Confidence Index Registers 43.8 in March

The index for sea freight was marginally higher than that of air cargo at 43.8, although at below the 50 mark, it indicates that weaker volumes than expected are being experienced in this sector. However, sea forwarders also expressed significantly more optimism for the coming months with the index for expected situation registering 57.2.

Forwarders on the Asia to Europe sea freight lane registered the highest index value for the present situation (47.4). Sea forwarders on this route also anticipated significantly higher volumes over the next six months, with the index for the expected situation registering 64.1.

The results of the Stifel Nicolaus Logistics Confidence Index can be downloaded by clicking on the link here.

David Ross, Director of Stifel Nicolaus commented, “While current international freight trends are soft, we expect a return to global growth around mid-year. This new index should be especially useful in seeing how Europe emerges from its current financial problems as a player in the global supply chain.”

Content provided in partnership with Transport Intelligence.

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2nd Hi-Tech and Electronics Supply Chain Summit, Asia-Pacific

18/09/2012 – 19/09/2012, The Marriott, Orchard Road, Singapore

Senior Executives Discuss how to Optimize Hi-Tech Supply Chains to Reach New Customers Across Asia-Pacific and Boost Profits Across the Globe