Logistics Bulletin

Monday 26 October 2020

This week’s Logistics Bulletin reports on the Q3 and 9M performances of 3PLs across Europe and North America. Kuehne + Nagel saw 9M net turnover and EBIT fall 6.3% and 0.5% respectively, as gross profits declined 7.9%. Knight-Swift Transportation, North America’s largest truckload transportation company, reported 9M revenues down 6.9% as operating income increased 12.8%, whilst Bolloré’s Transportation & Logistics revenues in the 9M period were down 4.0% on a reported basis. More positively, the good business recovery in Q3, 2020 following the sustained growth in Q1, 2020 and the resilience shown in Q2, 2020 enabled ID Logistics to achieve 5.3% growth sales in the first nine months of 2020.

Elsewhere this week, SEGRO has reported that rental collection has continued to progress well with Q4 rent collection in the UK currently at 85.0% of total rent billed, higher than at the equivalent date in the second and third quarters. A further 13.0% has been deferred by agreement with customers, most of which is now payable monthly meaning that the majority of this will have been received by the end of the year. In Q3, in the UK, 92.0% of rents have been paid, with 7.0% deferred, including payment plans, leaving 1.0% outstanding. In the Continental Europe portfolio, 98.0% of rents have been paid, with 2.0% outstanding.

Corporate and market news...

• Kuehne + Nagel reports 7.9% decline in 9M gross profits
• Knight-Swift reports 6.9% drop in 9M revenues as operating income climbs 12.8%
• Bolloré’s Transportation & Logistics revenues increase 2.0% in Q3
• ID Logistics achieves good growth momentum in Q3 2020
• Mullen Group expects consolidated revenues to remain solid
• Hapag-Lloyd updates forecast for financial year 2020
• Hillebrand acquires Braid to enhance non-hazardous bulk liquids business
• H.I.G. Capital to acquire Capstone Logistics
• Greencarrier Freight Services acquires leading player in Finland-to-Baltics Road transport
• SingPost to buy 38% of Freight Management Holdings
• Kuehne + Nagel moves India Head Office

Service developments... 

• DSV adds further air freight capacity for peak season
• GB Railfreight extends partnership with Lineas
• Nippon Express launches high-speed consolidated air cargo service to the US Southeast

Outsourcing news...

• ID Logistics continues its commercial development in Q3
• Rhenus sets up a new logistics plan for Daikin
• CP announces strategic, multi-year rail agreement with Maersk
• Tekken-Aml-Abenikko awards logistics contract to Bolloré Logistics
• Local School Districts look to Crowley for mask procurement and delivery solutions

Warehouse and distribution centre developments...

• Rental collection remains strong at SEGRO
• FedEx Express invests in operations in Mexico
• Wincanton expands property portfolio
• Nor-Am Cold Storage opens facility in Kansas
• DX expands depot network with new Burnley site
• Amazon takes new logistics facility in Berlin
• Amazon invests in logistics in Mexico

IT, fleet and environmental developments...

• DB Schenker brings its first logistics robot in the Czech Republic into operation
• Ocado Group acquires minority stake in robotics start-up Myrmex
• UPS SCS digitises engagement and visibility with customers
• XPO Logistics expands environmentally friendly fleet in Spain
• Marshalls enhances fleet with 100 new DAF Euro-6 tractor units
• Rhenus Home Delivery relies on Dock’n’Deliver
• Fiege brings PV system online at DC in Greven-Reckenfeld
• Bolloré Logistics innovates for sustainable logistics in China
• PostNord has reduced its carbon footprint by 40.0%
• Menzies Distribution retains FORS bronze accreditation
• DACHSER and Fraunhofer IML continue research partnership

Personnel and  HR developments...

• XPO Logistics aims to create 15,000 Jobs in North America
• Rhenus makes changes in its Management Board
• XPO Logistics appoints Chief Commercial Officer

The Logistics Bulletin has provided global supply chain professionals with the latest insight, news and analysis for 18 years. To receive this highly valued service direct to your in-box, register here. Press releases and articles for inclusion can be sent by email to logisticsbulletin@analytiqa.com