Bertschi Group has entered 2026 with a clear message that customer value creation and targeted investments can still deliver growth, even when the market remains in stagnation. The Group closed the year 2025 with a turnover of CHF1.02 billion, unchanged versus 2024 because of the strong Swiss Franc. Turnover in local currencies increased from the previous year by 2.5%, supported by growth in selected global markets and rising demand for storage and distribution solutions in Europe and Asia.

Tariff and regulatory uncertainties stayed on management’s radar throughout the year and repeatedly influenced customer decisions, procurement timing, and cross-border planning. In parallel, the European chemical industry’s downturn continued. Plant closures across the value chain reduced production activities in certain regions, while specific import streams increased and reshaped supply patterns. For Bertschi, the key task besides managing volume swings was to anticipate where the next trade redirections would appear and to respond with flexible capacity and execution.

As European chemical production stagnated overall, volumes from Asia, the Middle East, and the Americas gained weight in specific product market segments. Bertschi is positioning itself to support this reality through scalable hub infrastructure and end-to-end supply chain services. The Group’s strategy is built around being able to store, handle, heat, sample, clear customs, and distribute chemical products most especially in and around key import regions in Europe and Asia. The objective for 2026 is to expand relationships with chemical producers, developing such new product flows.

Investment remains a central lever in Bertschi’s long-term positioning. In Europe, the Group continued in 2025 to build capacity close to major ports and industrial clusters, with infrastructure that supports integrated logistics concepts.

The Antwerp Zomerweg Terminal (AZT) is a key part of the Group’s European investment agenda. Designed for modern, integrated chemical logistics, the terminal brings together container storage, particularly for DG, plus value-added services of customs solutions, heating, and trimodal connectivity. In Rotterdam, Bertschi completed an extension that strengthens throughput, handling, and DG storage capacities of the trimodal terminal and supports growing supply chain activities. The Group’s strong footprints in Antwerp and Rotterdam reinforce its position in Europe’s two leading chemical clusters, enabling customers to scale storage and distribution with predictable processes.

Bertschi also acquired land in Middlesbrough, creating room for further expansion of the UK storage and distribution hub in a market where logistical needs in the chemical segment continue to evolve. The UK market remains strategically important as global supply chains adapt to structural shifts in sourcing and production.

With the establishment of operations in Mexico, Bertschi is placing a flag in a market that is increasingly relevant for chemical supply chains connecting North America, Central America, and global trade routes. The aim is to provide customers with local expertise and a direct link to the Group’s global door-to-door service concepts.

New entities in Taiwan and Ningbo deepen the Group’s ability to support customers in Asia for regional distribution and for export-driven supply chains. These locations also help Bertschi follow the continued shift in production capacity and trade influence toward Asia. In Singapore, the Group expanded its Isotank heating capacity at its major global hub on the Jurong Island Chemical Cluster (JICC), reflecting sustained demand for integrated chemical logistics, where heating capability is essential, across Southeast Asia. In 2025, the chemical logistics hub in Zhangjiagang (Jiangsu Province, CN) successfully ramped up its business volume, supplying DG storage, drumming, warehousing, and distribution services to companies importing chemicals into the growing Chinese market, as well as for local producers.

Sustainability goals remain present across the industry, but operational realities such as rail infrastructure disruption and reliability issues in Europe continue to put pressure on modal shift ambitions. For Bertschi, a priority for 2026 is to raise the consistency of planning and execution for customers and further reduce risks through resilient transport concepts. The Group supports industry initiatives aimed at improving intermodal performance through consolidation and higher-frequency services on key lanes. Sustainability progress in land transport will depend on operational reliability.

Bertschi overall anticipates a continuation in 2026 of a challenging market environment with overcapacities and cost pressure. Against this background, the Group will strengthen customer service with proactive communication and solution-oriented planning. Investments will remain selective and focused on infrastructure, equipment, and digital capabilities that improve reliability and scalability while maintaining the Group’s safety standards.

RXO has reported its fourth-quarter, 2025 financial results. In Q4, tightening in the freight market accelerated, driven by continued reductions in truckload capacity. This impacted buy rates and squeezed Brokerage gross margin. While demand remained soft, the Company has significant sales momentum. The Brokerage late-stage pipeline for new business grew by more than 50.0% year-over-year, and Managed Transportation business was awarded more than US$200.0 million of freight under management in the quarter.

RXO remain focused on profitable growth and long-term performance. Its larger scale, asset-light model and improving cost structure drive strong cash flow. Furthermore, its technology continues to advance through transformational AI, and a new US$450.0 million lending facility ensures it’ll have flexibility across all market cycles. RXO is well positioned for the long term.

RXO’s revenue was US$1.5 billion for Q4, 2025, down 11.9% compared to US$1.7 billion in Q4, 2024. Gross margin was 14.8%, compared to 15.5% in Q4, 2024. The Company reported a fourth-quarter 2025 GAAP net loss of US$46.0 million, compared to a net loss of US$25.0 million in Q4, 2024. The Q4, 2025 GAAP net loss included US$31.0 million in transaction, integration, restructuring and other costs, part of which was a US$12.0 million goodwill impairment related to the restructuring of the ground and air express service offering within the Managed Transportation business. Adjusted net loss in the quarter was US$11.0 million, compared to adjusted net income of US$10.0 million in Q4, 2024. Adjusted EBITDA was US$17.0 million, compared to US$42.0 million in Q4, 2024. Adjusted EBITDA margin was 1.2%, compared to 2.5% in Q4, 2024.

Volume in RXO’s Brokerage business declined by 4.0% year over year in Q4. Less-than-truckload volume increased by 31.0% but was offset by a 12.0% decline in full truckload volume. Brokerage gross margin was 11.9% in Q4.

Managed Transportation was awarded more than US$200.0 million of freight under management in the quarter and increased the synergy loads provided to Brokerage. Last Mile stops grew by 3.0% year-over-year. RXO’s complementary services gross margin was 20.2% for the quarter.

For the full year 2025 period, revenue climbed 26.2% to US$5.7 billion. The operating loss widened to US$79.0 million, from US$56.0 million. Net losses narrowed to US$100.0 million, from US$290.0 million.

The Company finalised a US$450.0 million asset-based revolving credit facility in Q1, 2026. The ABL facility replaces RXO’s previous US$600.0 million unsecured revolving credit facility and provides more flexibility through all market cycles.

Looking ahead, RXO expects Q1, 2026 adjusted EBITDA to be between US$5.0 million and US$12.0 million. In Brokerage, the company expects overall volume to decline by 5.0% to 10.0% year-over-year and gross margin to be between 11.0% and 13.0% in Q1.

Maersk delivered a strong performance in all businesses in 2025 as volume growth, operational execution and proactive cost measures helped results reach the top-end of the financial guidance for the year. Full-year revenue stood at US$54.0 billion (US$55.5 billion), EBITDA was US$9.5 billion (US$12.1 billion), and EBIT was US$3.5 billion (US$6.5 billion).

Ocean grew in line with market despite volatile markets. The lower freight rates of 17.0% had a negative impact on revenue. Logistics & Services continued to improve profitability driven by targeted refocusing efforts. Terminals achieved its strongest financial performance ever with record volumes, revenue and EBIT.

Across the Company’s operations, volumes grew and asset utilisation was very high. The Ocean business set a new benchmark for reliability, Terminals delivered record results, and Logistics & Services continued to advance. The year highlighted the need to strengthen, and modernise global supply chains and critical infrastructure.

The Ocean business drove increased competitiveness through high asset utilisation and volumes growth in line with market at 4.9%, while profitability declined due to lower freight rates caused by supply overcapacity. The average loaded freight rate was 2,237 USD/FFE. The average freight rate declined by 17% across most trades due to the persisting market pressure on rates. Freight rates followed an overall downward trend throughout the year compared to the upward trend in 2024, despite the brief uptrend in Q3 2025 as a result of the seasonal demand. The new East-West network was launched and delivered industry-leading reliability with more than 90.0% on-time arrivals on average and has enabled cost savings above expectations.

The Logistics & Services business continued to invest and to advance performance delivering improved profitability and operational improvements. Despite this progress, the segment is not yet at full potential and further improved performance remains a priority. Revenue increased by 1.2% or US$183.0 million to US$15.1 billion supported by volume growth in multiple products. Managed by Maersk’s revenue increased by 1.6% to US$2.2 billion (US$2.2 billion), despite Supply Chain Management volumes decreasing to 110,511,000 CBM (120,137,000 CBM) due to unfavourable market conditions and increased tariffs. Customs volumes increased by 2.6% to 6,954,000 declarations (6,781,000 declarations). Fulfilled by Maersk’s revenue decreased by 1.1% to US$5.7 billion due to Middle Mile and Last Mile, partially offset by solid growth in Warehousing & E-Fulfilment, driven by 2024 customer wins benefiting 2025. Transported by Maersk’s revenue increased by 3.0% to US$7.2 billion mainly driven by First Mile. Air freight volumes decreased by 2.8% to 318,000 tonnes. First Mile volumes rose by 3.8% to 7,028,000 FFE.

Maersk continued to strengthen its position as a global leader in terminal operations and critical port infrastructure - the backbone of any country’s exports and imports. Terminals accelerated growth by developing new sites, modernising existing facilities, and securing key concessions across strategic locations. Terminals revenue increased by 20.0% propelled by record-high volumes from strong demand, improved rates and higher storage revenue. This underpinned the delivery of the best financial results on record.

In Q4, 2025, Ocean saw strong volume growth of 8.0%. However, continued market pressure on freight rates drove EBIT into negative territory at US$-153.0 million, down from US$567.0 million in the previous quarter, and from US$1.6 billion in Q4, 2024.

Logistics & Services revenue grew 1.9% from Q4, 2024 as profitability improved year-on-year for the seventh consecutive quarter with the EBIT margin increasing 0.8 percentage points to 4.9%. Improvements were driven particularly by the performance in Warehousing and E-fulfilment. EBIT, at US$194.0 million, was down from US$218.0 million in the previous quarter. It was US$158.0 million in Q4, 2024.

Terminals revenue grew 13.0% from Q4, 2024. Volumes grew 8.4% driven by strong demand across Americas and Europe. The EBIT margin excluding impairment in Europe and a write-down in Asia was 30.1%. EBIT, at US$321.0 million, was down from US$571.0 million in the previous quarter due to one-offs. It was US$338.0 million in Q4, 2024.

Looking ahead, the Company’s guidance is based on the expectation that global container volume growth will be between 2.0% and 4.0% in 2026 and that A.P. Moller – Maersk will grow in line with the market. The ranges reflect the expected overcapacity in the shipping industry and scenarios of a gradual Red Sea reopening in 2026. The underlying EBIT guidance also includes the impact of a change in estimated useful lives of vessels from 20 to 25 years effective 01 January 2026, with an estimated impact of around US$700.0 million in reduced depreciation in 2026.

Key to success remains to grow in close partnership with customers, leveraging a unique asset footprint, and a continuous drive for operational excellence and cost discipline.

To drive continuous productivity improvements and maintain strong cost discipline, Maersk is to simplify the organisation and reduce the Company’s corporate overhead. As part of this, Maersk is reducing corporate costs across headquarters, regions, and countries with US$180.0 million annually. Out of approximately 6,000 corporate positions, around 15.0% - or approximately 1,000 positions - will be closed. The required notification and consultation processes have been initiated.

Maersk’s Logistics & Services product portfolio will be regrouped into three subsegments: Landside, Forwarding, and Solutions. This grouping reflects the general product segmentation in the industry and the fundamental differences across logistics products in how they create value for customers. Consequently, the organisation is adjusted with Landside products managed locally at a country level, while Forwarding and Solutions will operate as global product organisations. Responsibility for the global products will be divided between two roles, aligned with the new product categories. Narin Phol, current Head of Logistics & Services, is appointed Head of Solutions, and Christoph Hemmann, current Global Head of Air Product & LCL, is appointed Head of Forwarding. With this appointment, Christoph Hemmann will join Maersk’s Executive Leadership Team alongside Narin Phol.

XPO has announced its financial results for Q4, 2025. The Company reported diluted earnings per share of US$0.50, compared with US$0.63 for the same period in 2024. For Q4, 2025, the Company generated revenue of US$2.01 billion, up 4.7% compared with US$1.92 billion for the same period in 2024. Operating income was US$143.0 million for Q4, down 3.4% compared with US$148.0 million for the same period in 2024.

Net income was US$59.0 million for Q4, down 22.4% compared with US$76.0 million for the same period in 2024. The year-over-year decrease in operating income and net income includes a US$21.0 million reduction in real estate gains and a US$23.0 million increase in restructuring expense primarily from previously granted equity awards related to the transition in board leadership. Adjusted net income, a non-GAAP financial measure, was US$105.0 million for Q4, compared with US$107.0 million for the same period in 2024.

XPO concluded a year of strong execution with another quarter of profitable growth. In Q4, it increased adjusted diluted EPS year-over-year by 18.0% and adjusted EBITDA by 11.0%, excluding real estate gains. These results reflect a focus on service excellence and continuous improvement of the business.

The Company generated US$226.0 million of cash flow from operating activities in Q4 and ended the year with US$310.0 million of cash and cash equivalents on hand, after completing US$84.0 million of net capital expenditures, US$65.0 million of common stock repurchases, and US$65.0 million of term loan repayments.

In North American LTL, XPO grew adjusted operating income year-over-year by 14.0% and improved the adjusted operating ratio by 180 basis points to 84.4%, outperforming seasonality. XPO’s initiatives for mix and pricing delivered a twelfth consecutive quarter of sequential growth in revenue per shipment, excluding fuel. At the same time, AI developments lowered cost to serve by improving network efficiency and labour productivity.

The North American Less-Than-Truckload (LTL) segment generated revenue of US$1.17 billion for Q4, 2025, compared with US$1.16 billion for the same period in 2024. On a year-over-year basis, yield, excluding fuel, increased 5.2%, while shipments per day decreased 1.6%, and tonnage per day decreased 4.5%. Operating income was US$184.0 million for Q4, compared with US$179.0 million for the same period in 2024. Adjusted operating income, a non-GAAP financial measure, was US$181.0 million for Q4, compared with US$159.0 million for the same period in 2024. Adjusted operating ratio, a non-GAAP financial measure, was 84.4%, reflecting a year-over-year improvement of 180 basis points. Adjusted EBITDA for Q4 was US$285.0 million, compared with US$280.0 million for the same period in 2024. The year-over-year increase in adjusted EBITDA was due primarily to yield growth and productivity improvements, partially offset by a decrease in gains on real estate transactions, lower tonnage per day and wage inflation.

The European Transportation segment generated revenue of US$846.0 million for Q4, 2025, compared with US$765.0 million for the same period in 2024. Operating income was a loss of US$13.0 million for Q4, compared with a loss of US$11.0 million for the same period in 2024. Adjusted EBITDA was US$32.0 million for Q4, compared with US$27.0 million for the same period in 2024.

The Corporate segment generated an operating loss of US$28.0 million for Q4, 2025, compared with a loss of US$19.0 million for the same period in 2024. The year-over-year increase in operating loss reflects a US$7.0 million net increase in restructuring and transaction and integration costs. Adjusted EBITDA was a loss of US$4.0 million for Q4, 2025, compared with a loss of US$4.0 million for the same period in 2024.

For the full year 2025 period, XPO grew revenues by 1.1% to US$8.16 billion as operating income fell 0.6% to US$656.0 million. Net income declined 18.3% to US$316.0 million.

By pairing world-class service with proprietary technology, XPO is building durable earnings power unique to its business. It is continuing to execute for market-leading margin expansion in the current environment, while positioning for outsized share and margin gains in a recovery.

Amazon.com, Inc. announced financial results for its fourth quarter ended 31 December 2025. For the fourth quarter 2025, net sales increased 14.0% to US$213.4 billion, compared with US$187.8 billion in Q4, 2024. Excluding the US$2.8 billion favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with fourth quarter 2024. Operating income increased to US$25.0 billion in Q4, compared with US$21.2 billion in Q4, 2024. Q4, 2025 operating income includes three special charges, US$1.1 billion for the resolution of tax disputes associated with the stores business in Italy, and the settlement of a lawsuit, US$730.0 million in estimated severance costs, and US$610.0 million in asset impairments primarily related to physical stores. Without these charges, operating income would have been US$27.4 billion. Net income increased to US$21.2 billion in Q4, compared with US$20.0 billion, in Q4, 2024.

For the full year 2025, net sales increased 12.0% to US$716.9 billion, compared with US$638.0 billion in 2024. Excluding the US$4.4 billion favourable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 12.0% compared with 2024.Operating income increased to US$80.0 billion in 2025, compared with US$68.6 billion in 2024. Net income increased to US$77.7 billion in 2025, compared with US$59.2 billion in 2024.

Annual cost of sales climbed 9.0% to US$356.4 billion. Cost of sales primarily consists of the purchase price of consumer products, inbound and outbound shipping costs, including costs related to sortation and delivery centres and where Amazon is the transportation service provider, and digital media content costs where it records revenue gross, including video and
music. The increase in cost of sales in 2025, compared to the prior year, is primarily due to increased product and shipping costs resulting from increased sales, partially offset by operational efficiencies. Changes in foreign exchange rates increased cost of sales by US$2.8 billion in 2025. Shipping costs were US$95.8 billion and US$102.7 billion in 2024 and 2025. Shipping costs to receive products from suppliers are included in inventory and recognised as cost of sales upon sale of products to customers.

Annual fulfilment costs increased 11.0% to US$109.1 billion. Fulfilment costs primarily consist of those costs incurred in operating and staffing North America and International fulfilment centres, physical stores, and customer service centres and payment processing costs. While AWS payment processing and related transaction costs are included in “Fulfilment” AWS costs are primarily classified as “Technology and infrastructure.” Fulfilment costs as a percentage of net sales may vary due to several factors, such as payment processing and related transaction costs, the level of productivity and accuracy, changes in volume, size, and weight of units received and fulfilled, the extent to which third-party sellers utilise Fulfilment by Amazon services, timing of fulfilment network and physical store expansion, the extent the Company utilise fulfilment services provided by third parties, mix of products and services sold, and the ability to affect customer service contacts per unit by implementing improvements in operations and enhancements to customer self-service features. Additionally, sales by sellers have higher payment processing and related transaction costs as a percentage of net sales compared to retail sales because payment processing costs are based on the gross purchase price of underlying transactions. The increase in fulfilment costs in 2025, compared to the prior year, is primarily due to increased sales and investments in the fulfilment network, partially offset by operational efficiencies. Changes in foreign exchange rates increased fulfilment costs by US$609.0 million in 2025.

Amazon seeks to expand its fulfilment network to accommodate a greater selection and in-stock inventory levels and to meet anticipated shipment volumes from sales of its own products as well as sales by third parties for which it provides the fulfilment services. The Company regularly evaluate their facility requirements.

Werner Enterprises, Inc. has reported results for the fourth quarter and year ended 31 December 2025. In Q4, 2025, total revenues of US$737.6 million decreased US$17.0 million, or 2.0% compared to Q4, 2024. Operating loss was US$35.8 million compared to US$13.4 million operating income in the prior year; non-GAAP adjusted operating income of US$11.3 million, was down US$0.9 million, or 8.0%. The operating margin of (4.9)%, decreased 670 basis points from 1.8%; non-GAAP adjusted operating margin of 1.5%, decreased 10 basis points from 1.6%.

For the full year 2025 total revenues of US$2.97 billion decreased US$55.9 million, or 2.0%. Operating income of US$11.7 million was down US$54.5 million, or 82.0%; non-GAAP adjusted operating income of US$37.0 million was down US$36.7 million, or 50.0%. The operating margin of 0.4% decreased 180 basis points from 2.2%; non-GAAP adjusted operating margin of 1.2% decreased 120 basis points from 2.4%.

Fourth quarter results reflect both the challenges and progress made during a difficult operating year. Dedicated revenue continued to grow, supported by increased fleet size and customer retention, and the recently announced acquisition of FirstFleet positions Werner for further sustainable, profitable growth. One-Way Truckload miles per truck improved, though the fleet size was reduced as part of a strategic realignment toward specialised, higher-margin services. Logistics results were mixed, with strength in Intermodal and Final Mile offset by margin compression in Truckload Brokerage due to rising purchased transportation costs. Despite ongoing pressure across the freight market, Werner maintained strong operating cash flow and disciplined capital deployment.

Total revenues for the quarter were US$737.6 million, a decrease of US$17.0 million compared to the prior year, due to a US$14.7 million, or 3.0% decrease in Truckload Transportation Services (“TTS”) revenues and a decline in Werner Logistics revenues of US$5.6 million, or 3.0 %. Operating income decreased US$49.2 million, or 368.0%, to a loss of US$35.8 million while operating margin of (4.9)% declined 670 basis points from 1.8%. On a non-GAAP basis, adjusted operating income of US$11.3 million decreased US$0.9 million, or 8%. Adjusted operating margin of 1.5% declined 10 basis points from 1.6%.

TTS had an operating loss of US$32.9 million compared to US$11.7 million operating income in the prior year, and TTS had non-GAAP adjusted operating income of US$12.7 million, a decrease of US$1.9 million. Werner Logistics had operating loss of US$0.2 million compared to US$1.2 million operating income in the prior year, and Werner Logistics had non-GAAP adjusted operating income of US$1.0 million, a decrease of US$1.4 million. Corporate and Other (including driving schools) had an operating loss of US$2.7 million compared to US$0.4 million operating income in the prior year which had a US$5.1 million gain on the sale of real estate.

Net gains on strategic investments were US$32,000 compared to net gains of US$8.7 million in the prior year. Net loss attributable to Werner was US$27.8 million compared to US$11.9 million net income attributable to Werner in the prior year. On a non-GAAP basis, adjusted net income attributable to Werner was US$3.3 million compared to US$4.7 million in the prior year.

In Q4, 2025, Werner began a strategic restructuring of its One-Way Truckload business, a decisive action designed to significantly enhance long-term profitability and fleet utilisation by maximising production and mitigating unprofitable freight. Key steps in this initiative included exiting selective unprofitable regional and short-haul truckload freight, further integrating one-way acquisition operations, and a further shift in the One-Way fleet composition toward more specialised, Expedited, and team capacity. This repositioning is focused on moving away from underperforming business. The restructuring resulted in a total charge of US$44.2 million in Q4. It is important to note that a significant portion of this is non-cash, totalling US$42.7 million, which includes the impairment of US$21.7 million of intangible assets and US$21.0 million of revenue equipment. This non-cash charge reflects the necessary steps to rationalise assets and business model for future margin expansion.

Truckload Transportation Services (TTS) Segment

> Revenues of US$512.6 million decreased US$14.7 million; trucking revenues, net of fuel surcharge, decreased 2.0% year over year
> Operating loss of US$32.9 million compared to US$11.7 million operating income in the prior year; non-GAAP adjusted operating income of US$12.7 million decreased US$1.9 million due to a One-Way smaller fleet and margin degradation, whereas Dedicated operating income and margin improved year-over-year
> Operating margin of (6.4)% decreased 860 basis points from 2.2%; non-GAAP adjusted operating margin, net of fuel surcharge, of 2.8% decreased 30 basis points from 3.1%, driven by One-Way margin decline, partially offset with Dedicated margin improvement
> Average segment trucks in service totalled 7,340, a decrease of 155 trucks year over year, or 2.1%, while segment trucks at quarter end decreased 350 trucks
> Dedicated unit trucks at quarter end totalled 4,850, or 68.0% of the total TTS segment fleet, compared to 4,840 trucks, or 65.0%, a year ago
> Average revenues per truck per week, net of fuel surcharge decreased 0.4% for TTS

During Q4, 2025, Dedicated experienced a net increase in average trucks in service, up 118 trucks, or 2.4% year over year, and up 89 trucks sequentially. Dedicated quarter-end fleet size was up 0.2% year over year. Dedicated average revenues per truck per week, net of fuel surcharge, decreased 1.1%. One-Way revenues per total mile, net of fuel surcharge, decreased 0.1% year over year.

Werner Logistics Segment

> Revenues of US$207.5 million decreased US$5.6 million, or 3.0%
> Operating loss of US$0.2 million compared to US$1.2 million operating income in the prior year; non-GAAP adjusted operating income of US$1.0 million decreased US$1.4 million, or 60%
> Operating margin of (0.1)% decreased 70 basis points from 0.6%; non-GAAP adjusted operating margin of 0.5% decreased 60 basis points from 1.1%

Truckload Logistics revenues (72.0% of Werner Logistics revenues) decreased US$13.1 million, or 8.0%, driven by a decrease in shipments of 9.0%. Revenue from the PowerLink offering was down 4.0% while traditional brokerage had a 10.0% revenue decline. Lower volume drove the majority of the revenue decrease. Intermodal revenues (16.0% of Werner Logistics revenues) increased US$6.5 million, or 24.0%, due to 22.0% more shipments, and relatively stable revenue per shipment. Final Mile revenues (12.0% of Werner Logistics revenues) increased US$0.9 million, or 4.0%, and increased 5.0% sequentially.

Cash flow from operations in Q4, 2025 was US$62.3 million compared to US$71.0 million in Q4, 2024, a decrease of 12.0%.

Net capital expenditures in Q4, 2025 were US$69.4 million compared to US$28.8 million in Q4, 2024, an increase of 141.0%, due to US$35.7 million more in sale of property and equipment in the prior year. Werner continues to prioritise business reinvestment in safe and modern equipment, including trucks and trailers, as well as in technology, its terminal network and talent. The average ages of the truck and trailer fleets were 2.7 years and 5.6 years, respectively, as of 31 December 2025. Maintaining a low-age, modern fleet improves driver experience and results in more effective equipment maintenance, safety and fuel efficiency.

Gains on sales of property and equipment in Q4, 2025 were US$2.4 million, compared to US$6.5 million in Q4, 2024. Gains in Q4, 2024 included US$5.1 million gain from selling a parcel of real estate, which is adjusted out of income for purposes of non-GAAP measures. Excluding the gain on real estate, gains on sale of used equipment were up year-over-year by US$1.0 million or 77.0%, driven by a change in the mix of equipment sold. Year over year, Werner sold 45.0% and 47.0% fewer tractors and trailers, respectively, and realised lower average unit gains on tractors and higher average unit gains on trailers. Gains on sales of property and equipment are reflected as a reduction of other operating expenses in the income statement.

As of 31 December 2025, Werner had US$59.9 million of cash and cash equivalents and US$1.4 billion of stockholders’ equity. Total debt outstanding was US$752.0 million at 31 December 2025. After considering letters of credit issued, it had available liquidity consisting of cash and cash equivalents and available borrowing capacity as of 31 December 2025 of US$702.0 million.

For the October–December 2025 period, PostNord has reported net sales of SEK9,924 million (10,018), a decrease of 1.0% in fixed currency for like-for-like units. Parcel volumes increased by 11.0%). Mail volumes decreased by 12.0%. Operating income (EBIT) totalled SEK284.0 million, representing an operating margin of 2.9%.

For the January–December 2025 period, net sales totalled SEK36,245 million, a decrease of 4.0% in fixed currency for like-for-like units. Parcel volumes increased by 12.0% as mail volumes decreased by 14.0%. Operating income (EBIT) totalled SEK841.0 million, representing an operating margin of 2.3%.

The reduced income in the quarter is mainly attributable to a decrease in mail volumes and the closure of the Danish mail business. At the same time, the parcel business has continued to perform well, delivering improved profitability as a result of increased volumes and improvement programmes running as planned. Looking at 2025 as a whole, operating income improved. It totalled SEK841.0 million and adjusted operating income was SEK969.0 million.

The parcel market continues to grow, but competition and pressure on prices are intense. The Company’s focus is on being an attractive growth partner for customers, by offering a broad and relevant range of services targeting the entire Nordic market. It is also striving to stand out as the obvious choice for consumers, for example by continuing to expand its parcel locker network as a complement to other delivery options. It is working to simplify and standardise production processes, by continuously striving to increase efficiency and quality. These efforts produced good results during the quarter.

The fourth quarter of 2025 was the last quarter in which PostNord delivered mail in Denmark. Towards the end of the year, it continued to realign the organisation, with a focus on maintaining the quality of services during the transition. Going forward, PostNord Denmark will be fully focused on developing its parcel business, so that it can offer Danish customers and consumers the best possible solutions.

Logista announced its results for the first three months of financial year 2026, spanning from 01 October to 31 December 2025. Throughout this period, the company recorded €3.399 billion in revenues, or a growth of 3.0% compared to the same period of last year. Economic sales reached €454.0 million, a slight reduction year-on-year.

Adjusted EBIT was €100.0 million, a 2.0% increase year-on-year, while net profits stood at €71.0 million, compared to €77.0 million in the same period of financial year 2025. This represents an 8.0% reduction, explained by lower financial revenues, among other factors.

In the region of Iberia, which comprises the markets of Spain, Portugal, the Netherlands and Belgium, revenues increased by 3.0% in Q1, to reach €1.312 billion, while economic sales stood at €300.0 million, experiencing a slight decrease year-on-year.

In Italy, revenues rose up to €1.223 billion, or a 9.0% increase YoY, while economic sales reached €106.0 million, after growing by 1.0% compared to Q1, 2025.

Lastly, revenues in France during Q1 reached €880.0 million, which represents a 4.0% contraction YoY, while economic sales registered €50.0 million, or 6.0% less than in the same period of 2025, mainly due to a reduction in the volume of tobacco distributed in France.

The Company’s General Shareholder Meeting approved the distribution of a dividend for a total of €277.0 million (€2.09 gross per share), thus maintaining the same level as last year.

In addition, the Company continues to analyse opportunities to acquire complementary and synergistic companies, in line with its strategic plan to foster growth and diversification of the business base. It continues to advance in the optimisation of integrations, as well as evaluating other possible opportunities for inorganic growth.

International Distribution Services has provided an update for the three months to the end of December 2025. Royal Mail and GLS delivered a solid performance, with parcel volume and revenue growth, despite ongoing macroeconomic and cost pressures which are expected to increase in 2026.

Financial highlights:

> Continued parcel volume and revenue growth in the third quarter of 2025/26 year-on-year.
> Royal Mail parcel volumes grew 8.0% with revenue increasing 4.2%.
> GLS parcel volumes grew 9.0% with revenue increasing 8.7%.
> Addressed letter volume declined 9.0% in the third quarter, in line with the historic trend, with volume decline largely offset by price.
> Cost pressures at Royal Mail increasing, including National Insurance contributions of c.£120.0 million for 2025/26, costs associated with delays deploying Universal Service changes and three-year pay deals with the Communication Workers Union (CWU) and Unite CMA.
> Cost mitigation measures in place, such as improved productivity through automation and reduction in discretionary spend.

Operational highlights:

Royal Mail

> Delivered Christmas for customers with over 99.0% of items posted by the recommended dates arriving on time for the third consecutive year.
> Biggest ever Christmas for out of home volumes with almost 8.0 million more parcels going through parcel points during peak season compared to the previous year.
> 80.0% increase in the number of lockers and shops compared to December 2024 with c.3,000 parcel lockers and almost 8,000 Royal Mail Shops, reinforcing Royal Mail’s position as the UK’s largest multi-channel parcel network with over 25,000 parcel points.

GLS

> Delivered biggest ever peak season with total volumes increasing more than 10.0%, year-on-year. Czech Republic, Romania and Spain delivered particularly high-volume growth.
> Out of home volumes grew 43.0% to almost 32.0 million parcels during peak season compared to the previous year, with nearly 30.0% of all B2C parcels delivered or collected through out of home channels. The out of home network grew 25.0% year-on-year to 130,000 parcel points, including partner locations.
> International volumes increased 12.0% year-on-year, driven by significant growth in Spain and Hungary, in addition to a solid performance in Germany, GLS’ largest export market.
> Macroeconomic and regulatory environment in Italy remains challenging, with recent regulatory changes in Germany and Belgium adding further complexity to operations.

Paul Ablin was appointed Interim Group Chief Financial Officer of International Distribution Services, effective from 01 January 2026. He assumes this position in addition to his existing responsibilities as Chief Financial Officer of Royal Mail.

For the 9M period, total parcel volumes at Royal Mail were up 6.0% to 1,085.0 million and up 5.0% to 730.0 million at GLS. International Distribution Services revenue increased 2.4% to £10,212.0 million, as revenue at Royal Mail increased 1.5% (to £6,351.0 million) and grew 4.3% at GLS (to £3,874.0 million).

Rhenus Automotive, a global provider of end-to-end logistics solutions for the automotive industry and part of the Rhenus Group, has successfully completed the acquisition of Oakley Industries Subassembly Division, strengthening both its service portfolio and its presence in the North American market. The purchase agreement was signed last week in Detroit.

Through the acquisition of Oakley Industries Subassembly Division, Rhenus Automotive expands its North American network with eight specialised sites and approximately 300 employees. The transaction enhances the Company’s service portfolio with Oakley’s expertise in highly automated tyre and wheel assembly for four OEM customers.

Existing Managing Directors Slater Hawes and Matt Sortor will remain in the leadership of Oakley Industries and continue to oversee the tyre and wheel operations, ensuring operational continuity following the acquisition.

Headquartered in Flint, Michigan, Oakley Industries will complement the existing Rhenus Automotive network with eight sites across the US and Canada, located in Michigan, Ohio, Illinois and Ontario. The Company has long-standing expertise in industrial and wheel assembly. The acquisition is a targeted strategic step that expands value creation capabilities and reinforces Rhenus’ position as a sustainable premium assembly and logistics partner to the automotive industry.

Founded in 1984, Oakley Industries specialises in the assembly of tyres and wheels as well as the just-in-time and just-in-sequence delivery of complete wheel sets for automotive manufacturers. The Company serves four OEM customers and supports more than ten projects using highly automated processes and robust JIT and JIS concepts. With the integration of approximately 300 employees, Rhenus Automotive further expands its service offering and strengthens its operational capabilities in North America.

By integrating Oakley’s assembly and sequencing services, Rhenus Automotive expands its capabilities within automotive production and offers OEM customers additional opportunities to outsource complex production steps. The acquisition supports the sustainable expansion of its customer base.

The current Managing Directors of Oakley Industries, Slater Hawes and Matt Sortor, will continue in their operational leadership roles. They ensure continuity in day-to-day operations, support knowledge transfer, and foster close collaboration throughout the integration into the structures of Rhenus Automotive.

Callbox Logistics announced the majority acquisition of JMC Global Concierge Logistics, a complementary logistics and freight services provider. Together, the companies form a more diversified logistics and supply chain platform with expanded capabilities and broader service coverage for customers.

The combination brings together Callbox's project-based logistics expertise with JMC's established freight and concierge logistics operations. Customers will benefit from a wider range of services, deeper operational resources, and the ability to support complex logistics needs across more markets and project types.

The transaction diversifies the combined customer base and service offerings, blending project driven logistics with freight and programmatic services. This balanced approach supports more consistent demand, reduces reliance on any single customer type, and positions the platform to serve both enterprise and project focused clients.

With a strong operational foundation in Texas and experience supporting some of the most demanding institutional owners and global brands in the market, the combined platform is positioned to expand into additional US markets. Management will focus on deepening recurring and programmatic customer relationships, investing in scalable systems and operational rigor, and selectively pursuing growth opportunities aligned with long term platform quality.

DSV has reported a solid financial performance in Q4 and full-year 2025. In Q4 2025, the gross profit was DKK19,119 million (up from DKK10,788 million) and EBIT before special items came to DKK5,592 million (up from DKK3,936 million), driven by the integration of Schenker.

For the full year 2025, revenue climbed to DKK247,331 million (from DKK167,106 million) as gross profit reached DKK66,859 million (up 59.0% from DKK42,974 million). Operating profit (EBIT) before special items rose to DKK19,611 million (up 24.8% from DKK16,096 million). Diluted adjusted earnings per share was DKK50.9 per share for 2025, compared to DKK51.6 in the previous year.

DSV progressed faster than expected on the Schenker integration, the largest and most complex integration in DSV’s 50-year history and it now expects to finalise the integration by the end of 2026, only 20 months after completion of the transaction.

The Company continued a deleveraging plan, reducing net interest-bearing debt by more than DKK7,000 million since completion of the transaction, based on a strong adjusted free cash flow of DKK16,335 million in 2025.

Market conditions in Q4, 2025 remained challenging and volatile due to macroeconomic uncertainty and geopolitical unrest. Despite the uncertain environment, DSV delivered a solid financial performance with an EBIT before special items of DKK 5,592 million, which was 48.5% higher compared to the same period in 2024 in constant currencies. The earnings growth was primarily driven by the contribution of Schenker, especially within the Road and Contract Logistics divisions.

The Air & Sea division reported EBIT before special items of DKK3,071 million, corresponding to 4.1% growth in constant currencies compared to the same period in the previous year. The softening of the market conditions, especially within sea freight, had a negative impact on earnings, offset by the positive contribution from Schenker. Air volumes grew by 63.0% in Q4, 2025 YoY and by 2.0% compared to Q3, 2025, in line with the addressable market. Sea freight volume growth was 52.0% YoY in Q4, 2025, while volumes declined by 5.0% compared to Q3, 2025, driven by seasonality.

Road reported higher EBIT before special items of DKK1,009 million in Q4, 2025, compared to DKK311 million in the same period last year. Schenker contributed positively on the division’s financial performance, supported by some market stabilisation, especially in Europe, and focus on cost efficiency, also adding to earnings improvement.

Contract Logistics also reported significantly higher EBIT before special items of DKK1,514 million in Q4, 2025, compared to DKK531 million in the same period last year. In addition to the strong contribution from Schenker, the improvement was driven by the commercial approach and consolidation of warehouses, leading to higher utilisation of the warehousing capacity.

For the full year 2025 period, in Air & Sea, global freight markets were characterised by high volatility and uncertainty due to macroeconomic and geopolitical dynamics. In the first half of the year, volume increased and freight rates were high due to frontloading ahead of trade tariffs, while the second half was more muted with declining freight rates, mainly within sea freight. In a difficult environment, DSV delivered a solid performance and, combined with Schenker, achieved growth in gross profit and EBIT before special items of 34.9% and 12.8%, respectively. The Company noted that the ongoing realisation of synergies will lift the earnings over time. It remains their ambition to lift the combined yields towards its pre Schenker levels.

In the first half of 2025, the Road market continued the weak market trends seen in 2024, characterised by low freight rates and utilisation levels, especially in Europe. In the second half, the market saw signs of stabilisation resulting in improved utilisation and margins. DSV Road was highly impacted by the acquisition of Schenker, which is expected to significantly improve the division’s earnings. Road reported 116.0% growth in gross profit and 46.5% growth in EBIT before special items compared to the previous year. Efforts to frontload the integration of Schenker continued, including consolidation of facilities and operations based on a uniform transport management system.

Contract Logistics maintained the consolidation plan to enhance warehousing capacity utilisation and the division’s profitability. In 2025, the division benefited significantly from the addition of Schenker’s strong logistics activities, which drove improved performance in the second half of the year, enhancing both profitability and ROIC before tax. Warehouse utilisation increased in the second half of the year, nearing target levels. Overall, the division’s gross profit grew by 89.3%, while EBIT before special items rose by 66.0% compared to the previous year.

Looking ahead, the current market uncertainties related to trade tariffs, the geopolitical landscape and macroeconomic factors are expected to persist. These factors may impact the global trade environment and activity levels, and unforeseen changes may impact the Company’s financial outlook. DSV continuously monitor activity levels and will adjust capacity and its cost base as necessary to improve productivity.

Due to fast progress on the integration of Schenker, with 30.0% of the integration completed in 2025, DSV now expect to finalise the integration by the end of 2026 (previously expected by the end of 2028). DSV continue to expect annual synergies in the level of DKK9 billion, with full financial impact now anticipated in 2027. For 2026, DSV expect incremental financial impact from synergies of at least DKK4,000 million, in addition to the financial impact of DKK800 million in 2025. In total, DSV expect total, accumulated impact on EBIT before special items of around DKK5,000 million in 2026.

Transaction and integration costs came to DKK4,527 million in 2025, which was above the expected level for the year due to the fast integration progress. Total transaction and integration costs are still anticipated at around DKK11 billion and will be charged to the statement of profit and loss under special items during the integration. Full-year 2026 guidance for EBIT before special items of DKK23,000 - 25,500 million.

Old Dominion Freight Line, Inc. (ODFL) has announced financial results for the three-month and twelve-month periods ended 31 December 2025. For the Q4, 2025 period, revenue fell 5.7% to US$1,307.3 million. Operating income declined 8.9% to US$304.3 million and net income dropped 12.8% to US$229.5 million. For the full year 2025 period, revenue fell 5.5% to US$5,496.4 million. Operating income declined 11.8% to US$1,361.0 million and net income dropped 13.7% to US$1,023.7 million.

The fourth quarter financial results reflect an ongoing commitment to revenue quality and cost discipline in what remains a challenging operating environment. Although revenue and earnings per diluted share both decreased in Q4, the team continued to focus on executing the fundamental elements of its long-term strategic plan. The cornerstone of the plan remains a commitment to providing customers with superior service at a fair price. The Company provided customers with 99.0% on-time service and a cargo claims ratio of 0.1%.

The decrease in Q4 revenue was primarily due to a 10.7% decrease in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight. The decrease in LTL tons per day reflects a 9.7% decrease in LTL shipments per day and a 1.0% decrease in LTL weight per shipment. LTL revenue per hundredweight, excluding fuel surcharges, increased 4.9% compared to Q4, 2024. The ongoing improvement in yield is the result of a disciplined, cost-based approach to pricing that is designed to offset cost inflation over the long term and support investments in capacity, technology and people.

The operating ratio increased by 80 basis points to 76.7% for Q4, 2025. ODFL continued to operate efficiently and diligently managed discretionary spending during the quarter, but the decline in revenue had a deleveraging effect on many operating expenses. This contributed to a 140 basis-point increase in overhead costs as a percent of revenue, which was partially offset by a decrease in direct operating costs as a percent of revenue. The combination of a decrease in revenue and an increase in operating ratio resulted in an 11.4% reduction in earnings per diluted share to US$1.09 for Q4.

Old Dominion’s net cash provided by operating activities was US$310.2 million for Q4, 2025 and US$1.4 billion for the year. The Company had US$120.1 million in cash and cash equivalents at 31 December 2025.

Capital expenditures were US$45.7 million for Q4, 2025 and US$415.0 million for the year. The Company expects its aggregate capital expenditures for 2026 to total approximately US$265.0 million, including planned expenditures of US$125.0 million for real estate and service centre expansion projects; US$95.0 million for tractors and trailers; and US$45.0 million for information technology and other assets.

Old Dominion continued to return capital to shareholders during the fourth quarter of 2025 through its share repurchase and dividend programmes. For the year, the Company utilised US$730.3 million of cash for its share repurchase programme and paid US$235.6 million in cash dividends.

ZTO Express has announced certain preliminary estimated financial results for the full year of 2025. Based on currently available information, the Company estimates that:

> its total revenues to range from RMB48,500.0 million to RMB50,000.0 million in 2025, an increase of approximately 9.5% to 12.9% from RMB44,280.7 million in 2024; and

> its gross profit to range from RMB12,150.0 million to RMB12,550.0 million in 2025, a decrease of approximately 8.5% to 11.4% from RMB13,717.1 million in 2024.

The estimated growth in total revenues is primarily driven by the increase in parcel volumes from 34.01 billion in 2024 to 38.52 billion in 2025, representing a year-over-year increase of 13.3%.

The estimates presented above are preliminary and subject to revision based upon the completion of the Company's year-end financial closing process and its consolidated financial statements and are not meant to be comprehensive for the relevant periods.

These preliminary estimates have been prepared by the Company's management based upon the most current information available to them. Such preliminary estimates have not been subject to any audit procedures, review procedures, or any procedures by the Company's independent registered public accounting firm, who has not expressed any opinion or any other form of assurance on such information and assumes no responsibility for, and disclaims any association with, the preliminary estimates.

The actual results for the fourth quarter and full year ended 31 December 2025 will not be available until a later time. These estimates involve risks and uncertainties and are subject to change based on the Company's ongoing review.

The information presented herein should not be considered a substitute for the financial information to be filed with the SEC in the Company's earnings release for the fourth quarter and full year 2025 financial results (the "Q4 and Full Year 2025 Earnings Release") once it becomes available. The Company has no intention or obligation to update the preliminary estimated financial results in this press release prior to issuing the Q4 and Full Year 2025 Earnings Release.

In the first nine months of the fiscal year ending 31 March 2026 (01 April 2025 to 31 December 2025) NYK reported revenues of ¥1,812.0 billion (decreased by ¥164.8 billion 0r 8.3% compared to the first nine months of the previous fiscal year). Operating profit amounted to ¥100.1 billion (decreased by ¥78.0 billion, or 43.8%) and recurring profit fell to ¥165.0 billion (decreased by ¥271.3 billion or 62.2%). Profit attributable to owners of parent amounted to ¥146.9 billion (decreased by ¥248.5 billion or 62.8%).

Within the ‘Liner Trade’ business segment, and for the Container Shipping Business, following the provisional agreement on US-China tariffs, the freight market level temporarily rose in the first quarter, but amid a continued increase in shipping capacity following the delivery of new vessels, freight rates declined from the second quarter onward. At ONE, the profit level was lower year on year due to the impact of a decrease in freight rates. For the segment’s Terminal Business, at the terminals in Japan, handling volumes decreased year on year. As a result of these developments, the Liner Trade Business overall decreased revenues and profits year on year.

At the Air Cargo Transportation business segment, following the completion of a share exchange between Nippon Cargo Airlines Co, Ltd. and ANA Holdings Inc., effective 01 August 2025, Nippon Cargo Airlines Co, Ltd. is no longer included in the results for the second quarter of the fiscal year ending 31 March 2026 and thereafter. As a result, the Air Cargo Transportation business decreased both revenues and profits year on year.

Within the Logistics business segment, Air Freight Forwarding business saw handling volumes lower year on year, in the first half, the profit level increased year on year due to lower purchasing prices. At the Ocean Freight Forwarding business, although cargo movements remained firm and handling volumes increased year on year, the profit level declined year on year due to higher costs resulting from lower freight rates and inflation. Within the Contract Logistics business, the profit level declined year on year as a result of a decrease in the cargo volumes of major customers due to the uncertain economic outlook caused by the impact of the US China tariff policy and other factors. As a result of these developments, the Logistics Business overall decreased both revenues and profits year on year.

At the Automotive business segment, for the Car Carriers business, the number of vehicles transported remained at the same level year over year. Business was affected by a decrease in revenues due to the stronger yen against the US dollar compared to the last year and higher costs such as cargo handling costs due to inflation. In the Auto Logistics business, while transaction volumes increased year on year in some regions of Europe and Southeast Asia, transaction volumes decreased year-on-year in some regions of China. As a result of the above, the Automotive Business overall decreased both revenues and profits year on year.

In the Dry Bulk business segment, the market level for each vessel type rose year on year. The Dry Bulk business overall was affected by the year-on-year appreciation of the yen, and lower profitability in certain vessel types. The Dry Bulk Business overall decreased both revenues and profits year on year.

Within the Energy business segments, five sub-segments reported updates:
> VLCC (Very Large Crude Carrier): The market level rose year on year as supply-and-demand conditions tightened as a result of OPEC+ easing production cuts from the second quarter onward, cargo demand increasing in the Atlantic region, and other factors.
> VLGC (Very Large Gas Carrier): The market level rose year on year as supply-and-demand conditions tightened due to changes in trade patterns influenced by factors such as US-China tariff policies.
> Petrochemical tanker: The market level declined year on year due to a slowdown in cargo movements resulting from a decrease in demand for petroleum products caused by an economic slowdown and other factors.
> LNG carrier: The results were steady on support from the long-term contracts that generate stable earnings.
> Offshore Business: FPSO (Floating, Production, Storage and Offloading) recorded a one-off profit as a new project launching operation. Existing FPSO and shuttle tankers operated steadily.
As a result of these developments, the Energy Business overall increased both revenues and profits year on year.

In the ‘Other’ business segment, the Vessel & Technical Service business saw bunker fuel sales business remain weak due to lower bunker oil prices and a decrease in sales volume. In the Cruise business, while Asuka II and Asuka III both generally operated smoothly, the Company recorded expenses in preparation for the launch of Asuka III operations. As a result of these trends, the Other business overall decreased both revenues and profits year on year.

Looking ahead, NYK provided explanations for their Consolidated Earnings Forecast and Future Outlook.

> Liner Trade
Container Shipping Business: For the second half as a whole, short-term freight rates are expected to be on par with the previous forecast, and the full-year profit level is projected to be largely the same as the previous forecast.

> Logistics Business
Air Freight Forwarding Business: The profit level is expected to be on par with the previous forecast.
Ocean Freight Forwarding Business: Market levels are expected to be below the previous forecast throughout the second half, and the profit level is projected to fall below the previous forecast.
Contract Logistics Business: The decrease in the cargo volumes of major customers caused by the impact of the US-China tariff policy and other factors is expected to continue, and the profit level is projected to fall below the previous forecast.

> Automotive Business
The full-year profit level is expected to exceed the previous forecast, as a result of firm transportation demand, as well as postponement in the collection of additional port fees by the US.

> Dry Bulk Business
Market levels are expected to exceed the previous forecast throughout the second half, but the full-year profit level is projected to be largely the same as the previous forecast.

> Energy Business
VLCC & VLGC: The market level is expected to remain strong, at levels similar to those seen in the third quarter, and to exceed the previous forecast.
LNG carrier: The business is expected to remain firm, backed by stable earnings from medium- to long term contracts.

Logwin is now represented in the US with its own air and ocean freight organisation. Through the newly established Logwin Logistics US Inc., the Company has taken over the activities of a long-standing cooperation partner in air and ocean freight as well as customs clearance, with operations in Los Angeles, Chicago, and Savannah. The integration of the existing organisation and its experienced employees enables Logwin to further strengthen its global network, serve customer requirements more directly, and strategically leverage growth opportunities in transpacific and transatlantic trade.

With the establishment of Logwin Logistics US Inc., Logwin is strategically expanding its activities in the important US market and laying the foundation for further growth, particularly in the air and ocean freight business.

With this acquisition, Logwin underscores the strategic importance of the US market for the further development of its global activities. Further growth in the US market is planned for the coming years.

The Rhenus Group has completed the acquisition of all remaining shares of Grupo Totalmédia becoming the Company’s sole owner, effective 01 February 2026. This transaction marks the final stage of Totalmédia’s transformation that began with the stake acquisition in early 2023 and culminated in its rebranding as Rhenus Logistics on 01 February 2025.

Founded in 1998, Totalmédia has established a strong reputation in Portugal and Spain as a specialist in Home Delivery of large and bulky items. Through its integration into the Rhenus brand, the Home Delivery service strengthened its position in Portugal with a robust national footprint.

This scale reinforces Rhenus’ broader strategy to expand its high‑quality Home Delivery network across Europe. As part of the Home Delivery activities operated by Rhenus in fourteen European countries, handling around seven million shipments annually, the Portuguese setup will continue to benefit from an established international structure known for innovation and sustainability.

The completion of the acquisition paves the way for the integration of Rhenus’ Home Delivery and Road Logistics activities under the newly formed Rhenus Overland Portugal framework. This combined structure includes 16 platforms in Portugal, with 10 operated directly by Rhenus and six subcontracted, supported by more than 400 employees, in addition to more than 1,000 partners. The Overland division in Portugal handles more than 3.5 million shipments per year and operates over 24,000 m2 of warehousing space.

Bringing these capabilities together allows Rhenus to offer customers more efficient end‑to‑end solutions that integrate first‑mile, linehaul and last‑mile services with scalable warehousing and value‑added offerings. This transition also aligns Grupo Totalmédia’s long‑standing customer‑focused values with the global principles of the Rhenus Group, including entrepreneurial thinking, continuity and integrity.

With full ownership now completed, Rhenus is able to bring the Home Delivery and Road Logistics operations together under Rhenus Overland Portugal with greater clarity and strategic direction.

Nippon Express Holdings has acquired a minority stake in TCS Logistics (Private) Limited (hereinafter "TCSL"), a logistics company primarily engaged in providing domestic logistics services in Pakistan, through its subsidiary NX South Asia & Oceania Co., Ltd. The acquisition took place on 02 February 2026.

The NX Group positions the provision of end-to-end solutions covering the entire customer supply chain as a key strategy for accelerating business growth in the global market, with a particular focus on strengthening global logistics capabilities in South Asia and the surrounding regions.

Founded in 1983 and headquartered in Karachi, Pakistan, the TCS Group is among the largest logistics conglomerates in the country. TCSL, one of the companies of the TCS Group, possesses a nationwide logistics infrastructure in Pakistan, handling domestic land transportation, warehousing and distribution, and international overland transport connecting Central Asia to overseas destinations via the Port of Karachi. Pakistan has a population of over 200 million, with a substantial youth demographic, and future economic growth is anticipated for the country.

Through this acquisition, the NX Group will leverage TCSL's domestic logistics network and customer base to strengthen its logistics operations in Pakistan, where domestic demand is expected to grow. The NX Group will also work to enhance trade lanes to Central Asia originating from Pakistan, with a focus on developing new logistics services and identifying emerging market needs.

Through collaboration with TCSL, the NX Group aims to realise growth opportunities early, thereby providing stronger support to its customers' supply chains.

Established in 2002, TCS Logistics operates from 25 warehouse locations across approximately 140,000m2 of space, with a vehicle fleet of 322. The Company operates in the land transportation, warehousing and distribution, land border transportation, forwarding and packaging services sectors.

TVS Supply Chain Solutions Limited announced the strategic acquisition of a Hyderabad-based 3PL company, ‘Swamy & Sons 3PL’ (S&S3PL), with a well-established operating footprint coupled with marquee customer relationship in the FMCG & FMCD sectors and with a strong presence in Andhra Pradesh and Telangana.

The acquisition is done through TVS SCS’ wholly owned subsidiary, FIT 3PL, for an enterprise value of ₹88 crore. The acquisition will be funded through internal accruals. S&S3PL registered an annual revenue, for FY25, of ₹207 crore, and a Profit Before Tax (PBT) of 3.2%.

Over the years, S&S3PL has built deep domain expertise in FMCG logistics and serves a portfolio of leading customers across the country. Its proven capabilities in managing high-volume, time-sensitive supply chains have established the company as a preferred partner for leading FMCG brands.

This acquisition marks a significant strategic milestone for TVS SCS’ India operations, strengthening its position as a key solution provider in the FMCG and FMCD segments. The transaction adds to the Company’s national scale and enhances sectoral coverage and regional execution capabilities in critical consumption-led markets. Also, strengthens TVS SCS’ distribution and last-mile service capabilities, across high-growth markets, especially in, Telangana and Andhra Pradesh, enabling seamless coverage.

The acquisition will:

> Provide TVS SCS with a strong and immediate foothold in the FMCG logistics space
> Expand its customer base to include leading Indian FMCG and FMCD customers and provide them with the necessary footprint in other geographies
> Strengthen its service capabilities with enhanced regional depth in Andhra Pradesh and Telangana
> Improve revenue growth prospects and margin profile through operating synergies and scale leveraging TVS SCS’ 1.86 million m2 warehousing space
> Further consolidate TVS SCS’ leadership position in the Indian supply chain services market

The acquisition positions TVS SCS to be among the top warehousing 3PL service providers in India, and upstream capabilities enable IT to service third-party dark stores at scale.

Arun Swamy will continue to lead the organisation and support customers through a smooth ownership transition, while continuing to drive customer retention and growth.

Full-year 2025 air freight demand for 2025 increased 3.4% compared to 2024 (4.2% for international operations). Full-year capacity in 2025 increased by 3.7% compared to 2024 (5.1% for international operations).

December 2025 brought the year to a close with continued strong performance. Global demand was 4.3% above December 2024 levels (5.5% for international operations). Global capacity was 4.5% above December 2024 levels (6.4% for international operations).

Full-year yields fell 1.5% year-on-year. This is the smallest decline in three years as a more normal supply-demand balance is achieved and the exceptionally strong yields of COVID and post-COVID continue to taper. Despite competitive pressure capping air cargo’s pricing power, yields remain 37.2% above 2019 levels.

Global eCommerce strength drove volumes, even as trading relationships with the US faced rising tariffs, the removal of de minimis tariff exemptions, and continuing policy uncertainty. Air cargo rose to the occasion. It adapted quickly to support global businesses and supply chains as they front-loaded product deliveries ahead of tariff impositions and adjusted to rising demand within Asia and between Asia and Europe as US-Asia trade stagnated.

Growth in 2026 is expected to moderate slightly to 2.4%, in line with historical trends. Demand will continue to be shaped by trade and geopolitical developments.

Global trade in goods grew by 2.5% annually in 2024. Year-to-date, January to November, for 2025, the index grew 4.4% (versus 2.4% of same period in 2024). Jet fuel prices fell 3.1% in December and averaged 9.1% lower in 2025 than in 2024. However, higher crack spreads meant refiners captured more margin, offsetting part of the benefit for airlines. Global manufacturing sentiment strengthened in December to reach 50.9. New export orders fell slightly to 49.1, but remained below the 50-point expansion threshold, reflecting ongoing caution amid tariff uncertainty.

Asia-Pacific airlines saw 8.4% year-on-year demand growth for air cargo in 2025, the strongest among the regions. Capacity increased by 7.4% year-on-year. December year-on-year demand increased 9.4% and capacity increased 8.3%.

North American carriers saw a 1.3% year-on-year decline in demand growth for air cargo in 2025, the only regional decline and the weakest performance globally. Capacity decreased by 1.1% year-on-year. December year-on-year demand decreased 2.2% and capacity decreased 2.6%.

European carriers saw 2.9% year-on-year demand growth for air cargo in 2025. Capacity increased by 3.1% year-on-year. December year-on-year demand increased 4.9% and capacity increased 3.9%.

Middle Eastern carriers saw 0.3% year-on-year demand growth for air cargo in 2025. Capacity increased by 4.5% year-on-year. December year-on-year demand increased 4.2% and capacity increased 10.6%.

Latin American and Caribbean carriers saw 2.3% year-on-year demand growth for air cargo in 2025. Capacity increased by 4.5% year-on-year. December year-on-year demand decreased by 4.1%, the lowest performance of all regions. Capacity increased 4.5%.

African airlines saw 6.0% year-on-year demand growth for air cargo in 2025. Capacity increased by 7.8% year-on-year. December year-on-year demand increased by 10.1%, the highest of all regions, and capacity increased 9.8%.

2025 trade lane data shows a clear shift in global air cargo flows from Asia–North America to Asia–Europe, driven by tariff pressures and the removal of the US de minimis exemption. The Within Asia, and the Middle East–Asia corridor also recorded strong growth.

Europe - Asia
2025 Cargo Demand Growth: +10.3%
2025 Global Market Share: 21.5%
Industry Market Share Change (percentage points) 2024 vs 2025: 1.1

Within Asia
2025 Cargo Demand Growth: +10.0%
2025 Global Market Share: 7.4%
Industry Market Share Change (percentage points) 2024 vs 2025: 0.4

Europe - North America
2025 Cargo Demand Growth: +6.8%
2025 Global Market Share: 13.5%
Industry Market Share Change (percentage points) 2024 vs 2025: 0.3

Middle East - Asia
2025 Cargo Demand Growth: +5.8%
2025 Global Market Share: 7.4%
Industry Market Share Change (percentage points) 2024 vs 2025: 0.1

Asia - North America
2025 Cargo Demand Growth: -0.8%
2025 Global Market Share: 23.4%
Industry Market Share Change (percentage points) 2024 vs 2025: -1.2

Within Europe
2025 Cargo Demand Growth: -1.4%
2025 Global Market Share: 1.9%
Industry Market Share Change (percentage points) 2024 vs 2025: -0.1

Africa - Asia
2025 Cargo Demand Growth: -1.9%
2025 Global Market Share: 1.3%
Industry Market Share Change (percentage points) 2024 vs 2025: -0.1

Europe - Middle East
2025 Cargo Demand Growth: -3.4%
2025 Global Market Share: 5.2%
Industry Market Share Change (percentage points) 2024 vs 2025: -0.4

Total cargo traffic market share (2025) by region of carriers is Asia-Pacific 35.9%, Europe 21.4%, North America 24.5%, Middle East 13.2%, Latin America and Caribbean 2.9%, and Africa 2.1%.

GEODIS has strengthened its temperature-controlled pharmaceutical shipment capabilities in Asia Pacific, by obtaining World Health Organisation (WHO) Good Distribution Practices (GDP) certification for freight forwarding services in Korea.

South Korea is a major hub for pharmaceutical innovation and distribution, with demanding requirements for quality and compliance.

A key milestone in ensuring the highest standards of quality and compliance for healthcare logistics, this certification enhances GEODIS Korea’s existing IATA CEIV Pharma certification since 2023 and reinforces its position as a trusted partner for healthcare supply chains in South Korea and the Asia Pacific region.

This achievement underscores GEODIS’s ambition to be the trusted global logistics partner for the healthcare sector, delivering innovative, sustainable, and compliant solutions across nearly 70 countries. In Asia Pacific, GEODIS is strengthening its certified network and resilient supply chain capabilities to address the evolving needs of the region’s healthcare industry, in alignment with the company’s global commitments.

GEODIS Korea offers a comprehensive range of pharma logistics services, including freight forwarding under strict temperature-controlled conditions: +2C to +8C, +2C to +25C, and frozen to deep frozen ranges, via air, ocean and road transportation modes. GEODIS’ temperature-controlled warehouse is strategically located within Incheon Airport’s free trade zone, enabling smooth, compliant, and efficient movement of pharmaceutical products throughout the region.

The GDP certification guarantees that all processes, handling, and distribution meet international standards for pharmaceutical product integrity and safety. Combined with CEIV Pharma certification, GEODIS offers customers a globally recognised assurance of quality and compliance.

Yusen Logistics Global Management Co., Ltd. (YLGM) and Africa Global Logistics (AGL) have celebrated the official opening of Yusen Africa (East Africa) Limited at a ceremony held in Nairobi, Kenya. Operating under the brand name “Yusen Africa,” the new joint venture was formally unveiled at the event, marking the start of its operations in the East African region.

Yusen Africa will operate from Kenya and across the Eastern Africa, delivering international freight forwarding (IFF) and logistics solutions tailored to the region’s growing trade and supply chain demands. The Company is positioned as a leading international freight forwarding and logistics provider, offering end-to-end services including freight forwarding, multimodal transport, contract logistics, customs brokerage, cold chain, eCommerce, and project logistics.

The launch follows the signing of a Joint Venture Agreement between YLGM and AGL Kenya Limited, a subsidiary of AGL. Kenya will serve as a strategic gateway for regional operations, supporting key trade corridors including the Northern Corridor, the Central Corridor, and the Ethiopia–Djibouti Corridor.

By combining AGL’s strong regional presence and local market expertise with Yusen Logistics’ global network, advanced digital platforms, and international supply chain capabilities, Yusen Africa aims to support customers across key sectors including automotive, healthcare, FMCG, infrastructure, and industrial projects.

The launch of Yusen Africa demonstrates Yusen’s long-term commitment to Africa. By bringing together global expertise and technology with deep local capabilities, it is well positioned to support customers as they grow across Eastern Africa.

Schramm Logistics has announced the launch of its integrated Third-Party Logistics (3PL) services, marking a significant milestone in the Company's growth and service expansion.

The newly introduced 3PL logistics services are designed to support manufacturers, exporters, importers, and distributors seeking efficient and scalable logistics solutions. Schramm Logistics' 3PL offerings include transportation management, warehousing and inventory control, order fulfilment, customs clearance, and distribution services. By integrating these functions under one platform, the company helps clients reduce operational complexity, control logistics costs, and improve delivery performance.

Schramm Logistics operates with a strong presence near major logistics and trade hubs such as Mumbai, Navi Mumbai, and Nhava Sheva (JNPT), enabling smooth coordination between ports, warehouses, and inland distribution networks. This extensive network allows the company to manage both domestic and international supply chains with precision and reliability. Businesses benefit from customized 3PL solutions that align with their industry requirements and growth objectives.

A key feature of Schramm Logistics' 3PL services is the use of technology-driven logistics management. Clients gain access to real-time shipment tracking, inventory visibility, and performance reporting, ensuring transparency across the supply chain. This data-driven approach enables better decision-making and improved control over logistics operations.

The launch of 3PL services reflects Schramm Logistics' commitment to evolving with market demands and delivering value-driven logistics solutions. The Company aims to support businesses in optimising their supply chains while maintaining compliance with regulatory standards and service quality benchmarks.

CEVA Logistics has announced a plan to open Proximity centres in France and across Europe, for a strengthened and high-end service offering for mobility and fleet management.

As the automotive logistics market undergoes significant changes linked to the emergence of new mobility models and the development of car-sharing, use-based fleets, CEVA is responding with its “Mobility & Fleet Management” offer. It provides an “all-inclusive” service offering for the management of company car fleets, new demonstration models, used vehicle fleets and subscription-based fleets.

CEVA’s boasts unique expertise in automotive logistics and an existing network throughout Europe. Its comprehensive range of services support players in the mobility sector for these new uses, including car manufacturers, fleet rental companies, used vehicle resale platforms, and more.

This range of services, designed to offer agile, digital, and customisable end-to-end logistics solutions, optimises vehicle allocation to end users and ensures a premium customer experience. It includes vehicle collection, inspection, refurbishment, maintenance, temporary storage, pre-delivery preparation, and direct handover to the end customer. Combined with a digital application, it ensures vehicle management and tracking throughout the entire lifecycle, while protecting and maximising residual value.

CEVA is now taking another step forward in the quality and scope of its services with the opening of its first Proximity Centre in Gennevilliers, France (92). This first centre in the Paris region offers vehicle reception, temporary storage, repairs and maintenance, a variety of concierge services, as well as vehicle preparation before delivery to the end customer, all in a single, easily accessible location designed for a personalised customer experience.

In terms of logistics, the Proximity Centre enables reduced processing and transfer times, optimised last-mile transportation costs and accelerated remarketing and preparation services for vehicles intended for corporate leasing, the used car market, or demonstrations such as press launches or promotional events for new models. Vehicle recipients can choose between in-person hand delivery, scheduled delivery by car transporter or driver, or even a personalised handover.

As clients expect a high-level consumer experience, the Proximity Centres will contribute to a premium service experience.

CEVA already operates approximately ten local service centres with regional partners and intends to strengthen its network with the opening of additional Proximity Centres in France (Lyon, Le Mans and Rennes), as well as in Italy (Milan) and Germany (Cologne) during the first half of 2026.

Maersk and Hapag-Lloyd have decided to change the routing of one of their shared services under the Gemini Cooperation, transitioning it through the Red Sea and the Suez Canal. All transits will be secured by naval assistance.

The service in scope is the ME11 service, which connects India and the Middle East with the Mediterranean. From mid-February, changes will be implemented on westbound sailings as of vessel Albert Maersk and on eastbound sailings as of vessel Astrid Maersk.

When possible, Hapag-Lloyd and Maersk will also implement changes to the AE12 and AE15 services to go through the Red Sea and the Suez Canal at a later stage. In this respect, further information to customers and other relevant stakeholders will follow in due course. No further changes to the Gemini network related to the Red Sea are foreseen at this stage.

The implementation will be carried out in a way that keeps disruption for customers to a minimum, upholding the Gemini Cooperation’s trademark of industry leading schedule reliability.

The highest possible security precautions will be undertaken, as the safety of the crew, the vessels, and the customers’ cargo remains the highest priority of both carriers. Maersk and Hapag-Lloyd will continue to monitor the security situation in the Middle East region very closely, and any alteration to the Gemini service will remain dependent on the ongoing stability in the Red Sea area and the absence of any escalation in conflicts in the region.

Maersk and Hapag-Lloyd launched their operational collaboration “Gemini Cooperation” on 01 February 2025. The cooperation’s network covers 29 shared mainliner and 29 shared shuttle services on East-West trade routes.

DHL Express has announced that its Service Centre in Treviso, Italy, has officially been certified according to the Transported Asset Protection Association's (TAPA) Facility Security Requirements (FSR). As the world's most TAPA-certified logistics provider, DHL Express continues to set the benchmark for world-class supply chain protection. The certification of Treviso strengthens a network that has already exceeded 500 TAPA-certified facilities globally, supported by a worldwide €250.0 million investment in advanced, industry-leading security technologies and processes. This achievement not only affirms DHL Express as the global leader in secure logistics but also highlights Treviso's strategic contribution to the company's security excellence.

TAPA (Transported Asset Protection Association) certification is a comprehensive process of membership, verification, and auditing designed to ensure the security of high-value goods throughout the supply chain. It is based on rigorous standards such as FSR (Facility Security Requirements) and TSR (Transport Security Requirements), which can be achieved through independent audits or, for Level 3 (basic), via self-certification by a registered Authorised Auditor (AA), followed by submission of documentation to TAPA for validation and issuance of a certificate typically valid for three years. The Security Requirements established by the Association are recognised worldwide as industry benchmarks, making TAPA certification an essential mark of excellence for customers seeking the highest levels of reliability and protection.

Reliable and certified security processes are fundamental to supporting the competitiveness of every industry and they are particularly crucial for the high-value sectors that represent the excellence of Made in Italy - including fashion, pharmaceuticals, luxury, and high-tech manufacturing. These industries rely on trusted, resilient, and world-class logistics partners to compete globally and fully leverage international markets.

The Treviso facility is one of DHL Express Italy's most advanced and strategically important logistics sites, designed to strengthen export capacity for the highly competitive North East region. Connected directly to the Venice Gateway and onward to the global hubs in Leipzig and Milan Malpensa, it provides businesses with access to over 220 international destinations and supports faster, more reliable logistics flows. The 30,000 m2 site unifies commercial operations, a major part of the national Customer Service, and operational teams, enabling higher efficiency, reduced transit times, and improved service continuity for more than 500 employees working on site. Equipped with a 6,000 pieces per hour sorter and built according to DHL's carbon neutral building guidelines, including a 700 kW solar installation, energy storage systems, and 67 EV charging stations, the facility also serves as a national benchmark for sustainable logistics infrastructure. Overall, Treviso operates as both an export accelerator and a strategic reference point for regional industry, reinforcing DHL's broader European network expansion and long-term growth strategy.

The TAPA FSR certification is a central element of the broader security strategy of DHL Express. As global supply chains become increasingly complex, certified operations ensure consistent protection, risk mitigation, and resilience across the entire DHL network. Italy already counts 21 TAPA FSR 2023 A-certified facilities - including the Malpensa Hub - with Venice Gateway scheduled for certification by the end of January. The Treviso facility's certification marks another step toward expanding a secure infrastructure that enables customers to rely on DHL Express for the highest standards of safety and operational integrity.

Amazon.com, Inc. delivered to Prime members around the world at its fastest speeds ever in 2025 for a third consecutive year, with over 13.0 billion items arriving the same or next day globally. In the US Prime members received over 8.0 billion items the same or next day, an over 30.0% increase compared to the prior year, with groceries and everyday essentials making up half of the total items. Fast, free delivery across a broad selection remains a top benefit for Prime members, saving them more time and money year after year. Members saved US$105.0 billion on fast, free delivery worldwide and US$550.0 on average in the US last year–nearly four times the cost of an annual membership.

Prime first launched in 2005, offering free two-day delivery on a selection of one million items, primarily made up of DVDs, CDs, and books. Today, members have access to free delivery on over 300 million items across 35 categories, all backed by Amazon’s A-to-z Guarantee, with tens of millions available for free Same-Day or Next-Day Delivery. The massive increase in selection and significant gains in delivery speed since Prime launched mean members rely on fast, free delivery for staples, repeat needs, specialty purchases, and everything in between. As a result, members are using the convenience of fast, free delivery to order meaningfully more often, saving US Prime members an average of 64 trips to a physical store in 2025, equating to over 55 hours saved.

Amazon’s dedication to innovation continues to improve the value of Prime, delivering unmatched convenience, selection, and savings to members around the world. The Company leads in fast delivery across the widest selection, with millions of items available for Prime delivery as fast as the same day in the US, which is up to 40 times the selection of a typical big box retail store.

Amazon innovated to unlock even more value for Prime members:

> Significantly expanded geographic reach of Same-Day and Next-Day Delivery at no additional cost to Prime members in over 4,000 smaller cities, towns, and rural areas across 44 states by transforming existing rural delivery stations into hybrid hubs that serve multiple functions. This innovation is the result of Amazon’s US$4.0 billion investment in its rural delivery network and has made a wide assortment of products, including everyday essentials like coffee, paper towels, and batteries available for Prime Same-Day and Next-Day Delivery for the first time in many areas. The ability to get everyday essentials delivered within hours has made the selection increasingly popular among rural customers, with these items accounting for 49 of the top 50 most-repurchased items in those areas. The response from customers has been overwhelmingly positive, with the average number of monthly Same-Day customers in rural areas nearly doubling in 2025 compared to the prior year.

> Increased perishable grocery selection by integrating thousands of perishables into Amazon’s existing Same-Day Delivery service to make grocery shopping easier than ever for Prime members in thousands of US cities and towns. This innovation allows Prime members to shop perishable groceries, all backed by the Company's Freshness Guarantee, alongside other popular categories like electronics, toys, and apparel, without having to repeat the checkout process or meet multiple purchase minimums. Amazon’s expanding Same-Day Delivery capabilities helped enable the delivery of a record 4.0 billion grocery and everyday essential items to Prime members the same or next day in the US.

> Expanded Same-Day prescription delivery through Amazon Pharmacy, leveraging Amazon’s existing Same-Day Delivery network to enable medication delivery within hours at no additional cost for members. In 2025, Amazon Pharmacy continued to reduce delivery times and set new speed benchmarks for prescription delivery in remote, hard-to-reach locations, while providing 24/7 pharmacist support and clear, upfront pricing.

> Brought ultra-fast delivery to customers around the world by expanding Amazon Now in India, Mexico, and the UAE, with initial testing underway in the US and UK Amazon Now is bringing everyday essentials, fresh groceries, and locally in-demand items to customers’ doorsteps in under 30 minutes with discounted delivery for Prime members.

> Used cutting-edge AI models to forecast where, when, and which types of products to stock across its fulfilment network. With the help of AI, Amazon stores the right selection close to customers, enabling faster deliveries and shorter shipping distances while maintaining the broadest selection of products possible for Prime members. This technology helps Amazon adjust its selection in different areas to meet customers’ local and seasonal needs.

Amazon Same-Day Delivery is broadly available in the US, with the vast majority of Americans having access to millions of products for delivery within hours. The continued expansion of Amazon’s Same-Day Delivery network in 2025 led to a 70.0% year-over-year increase in the number of items delivered in less than a day. Same-Day Delivery is free for Prime members who spend US$25 or more at checkout in most US areas. Minimum order qualifications may vary in some locations.

Amazon continues to deliver faster speeds on a broader selection while also improving workplace safety for employees and delivery partners. The Company’s speed improvements come primarily from placing products closer to customers. The teams picking, packing, and driving to customers’ homes are doing the exact same work for orders that arrive the same or next day as orders that used to arrive in two or more days.

FedEx announced improved digital tracking and returns capabilities designed to help shippers simplify the customer experience after checkout. FedEx Tracking+ and FedEx Returns+ are two enhanced tools that can be embedded directly within a shipper’s owned digital channels, adding an AI-powered, white-labelled layer that improves visibility, communication, and operational efficiency throughout the delivery lifecycle. The capabilities are delivered in collaboration with parcelLab.

Key AI capabilities include:

> Automated responses to common delivery and returns questions, such as “Where is my order?” and “Where is my return/refund?”
> Performance insights across tracking and returns activity to help monitor trends and exceptions
> Pattern and anomaly detection within delivery and returns data to surface potential problems or opportunities
> Automated returns policy and experience adjustments using merchant-defined rules and workflows eliminating the need for manual configuration changes

By implementing these AI-powered solutions, shippers may see significant improvement in both the customer experience and operational efficiency.

Both FedEx Tracking+ and FedEx Returns+ are fully white-labelled digital tools, enabling brands to manage tracking and returns as an extension of their own experience rather than redirecting customers to third-party pages. The AI-powered solutions are now available to US customers.

Cambridgeshire, UK-based haulier, Buffaload, has been awarded a new contract with Co-op, extending its more than 10-year partnership with the leading convenience retailer. The new five-year contract will now see Buffaload trunking ambient products from Co-op’s National Distribution Centre (NDC) in Coventry to 11 of the retailer’s regional distribution centres, which then deliver to local stores in communities in towns, cities and villages across the UK.

With a shared focus on cutting carbon emissions, last year Buffaload significantly invested in increasing its fleet of LNG (liquefied natural gas) vehicles. Buffaload has also committed to utilising bio-LNG, produced locally from food and agricultural waste, in a move that will enable its latest vehicles to reach significant tailpipe emission reductions.

Buffaload is delighted to extend its partnership with Co op by adding ambient logistics to its well-established temperature-controlled network. This is testament to the long-standing collaborative relationship with Co op, which reaches well beyond logistics, including support for shared charitable partnerships such as Barnardo’s and the role it plays in working with Co op suppliers to provide carbon reduction solutions.

GXO Logistics has announced a contract renewal and expansion in the UK with BAE Systems, a leading provider of advanced, technology-led defence, aerospace and security solutions. The six-year agreement will usher the partnership into its third decade and further support BAE Systems in the development of world-class Type 26 frigates.

For more than two decades, the Company has partnered with BAE Systems to deliver innovative, tech-enabled logistics solutions to support their role in strengthening the UK’s defence capabilities. Extending the partnership reflects BAE Systems’ confidence in the Company’s ability to provide best-in-class solutions and marks an important milestone as the first realisation of GXO’s expanded defence capabilities following the acquisition of Wincanton.

GXO’s dedicated team will provide warehousing solutions and materials handling at BAE Systems’ Scotstoun and Govan shipyards on the River Clyde in Glasgow, Scotland. Additionally, inbound to manufacturing and outbound volumes will be managed across an estate of warehousing facilities in the Central Belt of Scotland.

Additional support for inbound and outbound transport operations will be coordinated via GXO’s 4PL Control Tower for defence supply chains, and integrated technology solutions will provide enhanced visibility and coordination of inventory movements.

This agreement with GXO will help BAE Systems continue to improve the efficiency of its supply chain and shipbuilding operations as it delivers Type 26 frigates for the Royal Navy. Working closely with GXO gives it the flexibility and resilience needed to support this important programme.

CEVA Logistics and Airbus Helicopters have signed a contract to operate a new Regional Distribution Centre in Asia Pacific, strengthening their partnership and expanding their collaboration across the region.

Airbus Helicopters opened its new regional distribution centre on 02 February 2026, supported by CEVA Logistics. The logistics platform is located within Singapore’s Airport Logistics Park, a free-trade zone adjacent to the Changi Airport, where CEVA operates over 18,000 m2 of logistics facilities. Serving multi-industry customers with specialised cargo handling requirements, the facility also houses temperature-controlled warehousing to support Airbus Helicopters’ requirements. These controlled zones are maintained between 5C and 25C, with hygrometry kept between 45.0% and 65.0%, ensuring the safe handling of sensitive aerospace components.

CEVA Logistics brings deep aerospace logistics expertise, enabling a fast and efficient solution and providing full services such as spare parts management with specific storage systems, 24/7 operations, customs clearance, multi-modal transport services and robust AOG support. The new facility provides operational flexibility to enhance Airbus Helicopters’ responsiveness and proximity to customers.

With its presence in 170 countries and aerospace experts in 25 dedicated Aircraft on the Ground (AOG) desks, CEVA moves approximately 200 helicopters worldwide each year and hundreds of thousands of associated spare parts. This extensive global reach enables CEVA to support Airbus Helicopters’ ambitious growth plans in the Asia Pacific region, ensuring that local operations benefit from both global best practices and regional specific expertise. With the Asia Pacific helicopter market expected to increase to US$24.99 billion by 2030, CEVA is set to deliver tailored logistics solutions and operational readiness that support the sector’s accelerating growth.

DP World is strengthening Czechia's position as a key hub for automotive supply chains in Central Europe. The Company has opened a new logistics centre in Ostrava which reinforces its investment in the regional automotive industry, creating up to 750 new jobs and enhancing Czechia's role as a strategic gateway.

This investment deepens DP World’s long‑standing partnership with BMW Group and reflects its commitment to delivering efficient, reliable and fully integrated automotive supply chains that support both regional growth and Europe’s wider automotive network.

PD Ports is supporting the development of solar energy infrastructure across the North of England. Working with freight forwarders Fracht and Cargocare Global, it has delivered end‑to‑end supply chain solutions that demonstrate its agility, technical capability and pivotal role in supporting the UK’s clean‑energy transition.

The project involved handling, storing and delivering more than 220 containers of solar panels and over 300 containers of lithium cubes, vital components for the generation and storage of energy to be released into the grid when required, maximising the use of renewable energy.

The components were imported into PD Ports’ Teesport container terminal for use in large scale sustainable energy projects, including the development of solar farms in the Northeast of England using vacant or unfarmed land for the generation of clean energy.

PD Ports’ specialist teams coordinated the entire logistics journey through a single point of contact, from discharging containers from vessels at Tees Dock, then safely unloading the container contents on to a lorry or into storage, before finally ensuring seamless onward delivery to site.

Fracht UK stated that working alongside PD Ports on this project was a great example of what can be achieved through true collaboration. As one of Teesside’s largest landowners and a key national gateway for trade, PD Ports is uniquely positioned to help accelerate the clean energy revolution. By combining scale with innovation and collaboration, it is not only delivering for its customer but also helping to secure a more sustainable future for generations to come.

CEVA Logistics and HAECO Group have signed a new two-year global air freight contract at the Singapore Airshow, strengthening their longstanding partnership and establishing a fully integrated global logistics collaboration.

Under the agreement, CEVA will manage HAECO’s worldwide component flows, leveraging its global air freight network and aerospace expertise. The scope includes handling routine, urgent, Aircraft on Ground (AOG), dangerous goods, temperature-controlled and oversized shipments to and from HAECO facilities in Hong Kong, Xiamen and Jinjiang and across key trade lanes.

Partnering with CEVA strengthens the alignment of HAECO’s logistics activities across all its entities through a unified global network. With a unified operating model, CEVA will support HAECO’s 24/7 operations through seamless end-to-end coordination, delivering consistent service, unified visibility and harmonised reporting across the HAECO Group.

GXO Logistics, Inc. and London Luton Airport (LLA), one of the UK’s busiest airports, announced a new partnership in which GXO will operate the airport’s first consolidation centre that will screen all airside deliveries into the airport. This is a significant expansion in the airport sector in the UK and Republic of Ireland for GXO which has been operating airport consolidation centres at major UK airports since 2006.

As air travel continues to grow, consolidation centres play a pivotal role in driving efficiencies and improving sustainability for airport groups. In 2025, LLA welcomed more than 17.5 million passengers, up from 16.7 million in 2024. To address changing operational requirements, including rising passenger numbers and corresponding delivery volumes, the new LLA and GXO consolidation centre will streamline efficiency to manage hundreds of thousands of airside deliveries.

From high-end fashion to perfume and cosmetics, consumer electronics and items for LLA’s shops and restaurants, GXO will securely check and deliver every item that passengers can buy in the terminal whilst waiting for their flights, and all deliveries that support airside operations.

The consolidation centre provides London Luton Airport with a smarter, more efficient and streamlined logistical approach to managing the hundreds of thousands of goods that are delivered to over 40 shops and restaurants across the airport each year. In 2025 alone, the airport welcomed five new shop and restaurant openings to the terminal, with more expected this year.

The consolidation centre will be located in one of three hangars, that are being repurposed as part of an £11.5 million refurbishment programme that includes two new aircraft engineering and repair hangars. The refurbishment programme will create 150 employment opportunities at the airport.

As part of the consolidation centre service, LLA’s concessionaires will benefit from multi-faceted customer service support, including real-time track and trace notifications, direct contact to the centre, and 24/7 access to a service-focused team for more streamlined troubleshooting and improved on-time delivery results.

As part of this partnership, GXO will also implement a bespoke IT system, STREAM (Secure, Technical, Real Time, Electronic Alerts and Messaging), to monitor, report and manage service levels, ensuring continuous improvement.

For retailers, this ensures stores are consistently stocked with the right merchandise at the right time. STREAM maximises retail revenue and enhances passenger experience. Its flexibility also allows GXO to adjust delivery schedules dynamically, safeguarding multi-temperature goods and priority items, even during unexpected disruptions. Additionally, STREAM provides accurate performance data and actionable insights, supporting better planning and compliance for sensitive goods.

Stord has reached an agreement with American Eagle Outfitters Inc. (AEO) to assume the Dallas fulfilment centre, previously operated by Quiet Logistics (Quiet). In addition, Stord will become the preferred fulfilment provider to former Quiet customers.

This deal ensures continuity for customers. As brands everywhere assess and reimagine their business to be more resilient, this agreement creates stability and unlocks access to Stord’s global network reach and market-leading commerce enablement technology for customers.

Stord’s growth over the past decade has led to numerous market expansions, acquisitions, and new offerings earning the trust of hundreds of leading eCommerce brands. This expansion in the Dallas market makes Stord one of the most tenured operators in the industry, driving one of the largest fulfilment networks in volume and reach.

This news follows Stord’s acquisition of Shipwire from CEVA Logistics at the start of this year. These two expansions follow a record-setting 2025 for Stord that included the acquisition of Ware2Go from UPS, a US$200.0 million dollar Series E at a US$1.5 billion valuation, and a US$40.0 million investment in Hebron Kentucky modernising an expansion facility and 500+ new jobs.

The terms of the deal were not disclosed.

Menzies Aviation has been awarded a 15-year license to provide ground handling services at Kempegowda International Airport Bengaluru (BLR Airport), one of India’s fastest‑growing airports for both domestic and international traffic.

The license, awarded by Bangalore International Airport Limited (BIAL), is effective from 01 April 2026, with operations expected to commence immediately upon securing required regulatory approvals.

The award builds on Menzies Aviation’s more than 15-year presence at BLR Airport, where it has delivered air cargo services supporting global and domestic carriers. Under the new license, the Company will provide a full suite of ground handling services across Terminals 1 and 2, including passenger, ramp, and baggage operations, enabling airline customers to benefit from integrated ground and cargo services at the airport.

BLR Airport is a key aviation gateway for South Asia and one of India’s busiest airports, handling more than 43.0 million passengers annually and continuing to see strong growth in both domestic and international traffic. India continues to record strong growth in passenger numbers, seat capacity, and network expansion, reinforcing its position as one of the fastest‑growing aviation markets globally.

As part of the agreement, Menzies will launch a local recruitment programme, with approximately 1,000 new employees expected to join the business during the first three years, expanding its existing 1,700‑strong cargo team. All new colleagues will receive comprehensive training aligned with Menzies Aviation’s global safety and operational standards.

Menzies will also invest more than US$9.2 million to modernise and standardise its ground support equipment (GSE) at BLR Airport, including the introduction of electric GSE as part of its long‑term sustainability strategy. This aligns with BIAL’s own ambitions, reflected across the airport campus, and supports a shared commitment to decarbonisation and operational efficiency.

The license positions Menzies to support airline partners at one of the most dynamic airports in the world’s fifth largest overall by passenger numbers and the third largest for domestic air travel, while contributing to operational excellence and sustainable growth at Kempegowda International Airport Bengaluru.

02 February 2026 marks the official start of Wallenius Wilhelmsen operating the Gothenburg International Auto & RoRo Terminal (GIART), a milestone that lays the groundwork for developing a regional hub and enhancing both the Company’s logistics network and the port’s capacity to deliver efficient, integrated logistics solutions.

The Port of Gothenburg, Scandinavia’s leading hub for vehicle handling, holds a prime strategic position and plays a crucial role in linking the Nordic region with key global markets across Asia, North America, Africa, Australia, and Northern Europe.

The aim in operating GIART is to form a partnership with the Port of Gothenburg, acting as an integrated supply chain partner and making GIART a go-to hub for all carriers and customers.

The terminal offers full RoRo and terminal handling services, with phased upgrades planned to expand value-added processing. Sustainability is built in from day one, including EV charging infrastructure and energy-efficient systems.

GIART has two quay positions, 288,000 m2 of terminal space, rail connectivity, and PDI (Pre-Delivery Inspection) facilities and other equipment.

The contract runs for 12 years, providing long-term stability and a platform for continued investment in capabilities, sustainability and value‑added services.

Kuehne + Nagel has opened a new, built-to-suit 3,500 m2 Container Freight Station (CFS) in Mumbai. This facility reinforces its Sea Logistics capabilities in India and supports the country’s expanding trade ecosystem.

Located near the Jawaharlal Nehru Port Authority (JNPA), India’s largest seaport, the facility provides direct access to a key maritime gateway that handles a significant share of the country’s containerised trade.

The built-to-suit facility is designed for scalable operations, enabling efficient cargo handling and value-added logistics services. It follows strict safety and security protocols, with end-to-end surveillance, and meets global standards, including CTPAT (Customs Trade Partnership Against Terrorism), AEO (Authorised Economic Operator), and ISO (International Organisation for Standardisation). Sustainability is integral to the design, featuring electric material-handling equipment and solar-powered lighting to reduce environmental impact.

The new CFS enables faster, more connected operations. It helps customers move shipments efficiently and reliably today; while supporting their logistics needs as they evolve in the future.

India is on track to become the world’s third-largest economy within this decade. With more than 70.0% of its trade moving by sea, the demand for modern logistics infrastructure is accelerating and underscores the country’s growing influence in global commerce.

ID Logistics has started construction of a logistics campus in Spain. The project marks a major milestone in strengthening the Group’s capabilities in the country, particularly in the healthcare, FMCG and cosmetics sectors.

Designed to exceed 100,000 pallet positions, the future Campus will integrate automation solutions aimed at improving reliability, productivity and order preparation quality. The integration of intelligent conveyor systems, advanced internal flow management tools and picking-assistance technologies will enable efficiency levels significantly higher than those of a conventional warehouse. Ultimately, nearly 350 employees will operate this site, which will be capable of absorbing significant activity peaks and serving major cosmetics and healthcare clients.

The choice of Tórtola de Henares is based on its strategic position within one of Spain’s most competitive logistics hubs. Located close to major national transport corridors and offering fast connections to Madrid, the site provides an ideal environment for complex, high value-added operations. Its location within the Henares Corridor also benefits from a dynamic industrial ecosystem and infrastructure suited to large-scale projects, further strengthening the Group’s ability to support its customers’ growth.

The facility has been designed as a genuine internal innovation hub. It will include dedicated areas for the development and testing of new technologies, particularly in automation, artificial intelligence applied to the supply chain and energy-efficiency solutions. Collaborative spaces will allow ID Logistics teams to develop operational solutions, while training areas will support the continuous upskilling of employees on new tools.

The Campus will make a significant contribution to the region’s economic development by creating direct and indirect jobs, attracting new skilled profiles and stimulating the local ecosystem, particularly suppliers within the Henares Corridor. Designed with a holistic approach, the site will also place strong emphasis on employee well-being, with rest areas, health- and environment-focused initiatives, as well as an ambitious programme dedicated to emissions reduction and the energy transition.

CTP has welcomed the first tenant to CTPark Holubice, near Brno. Long-term CTP client Kuehne + Nagel has opened a modern distribution centre with a total area of more than 7,100 m2, providing logistics services to clients in the Czech Republic and neighbouring countries. Logistics companies currently make up roughly 14.0% of CTP’s portfolio.

Kuehne + Nagel’s new premises at CTPark Holubice serve as a hub for the provision of integrated third-party logistics services within the Central European market. Kuehne + Nagel also operates in other CTP locations, including at CTPark Ostrava, where it occupies premises combining office, support, and service functions.

The Czech Republic represents an important logistics market thanks to its Central European location and high-quality transport infrastructure. The Brno region and its surroundings have long been a strong business area offering favourable conditions for modern logistics operations. The 3PL’s cooperation with CTP in Holubice has enabled it to open facilities that meet both operational requirements and future growth plans.

The South Moravian Region has long attracted globally significant companies. The combination of its strategic location, quality infrastructure, strong industrial base, and access to a skilled workforce make it one of the key business areas in the Czech Republic. CTP has been active in the region continuously since 2001 and has gradually built an extensive network of properties there, including seven industrial parks, two office campuses, and one mixed-use complex. Together, they form a comprehensive and continuously developing portfolio responding to the diverse needs of clients.

CTPark Holubice is located approximately 15 km east of Brno, directly on the D1 motorway towards Ostrava at the junction of the E50 motorway. The location also benefits from its proximity to Brno International Airport, approximately a 15-minute drive away. The park is particularly suitable for logistics, manufacturing, and technology-oriented operations and currently offers nearly 3,100 m2 of available space for lease.

Panattoni is starting the next stage of Panattoni Park Warsaw South IV – a new 26,300 m2 warehouse will be built as part of the complex in Nadarzyn, Poland. The first tenant of the new facility is the growing Polish brand DZIK. This is the first stand-alone warehouse in the Company's history.

Panattoni is launching the next phase of Panattoni Park Warsaw South IV in response to the continuing high demand for modern industrial space in the immediate vicinity of Warsaw. This is one of the most attractive locations in the region, combining the potential of eCommerce, logistics and urban distribution.

The new facility will allow DZIK to combine logistics, offices and organisational culture in one modern environment, and the location in Nadarzyn will ensure efficient operation in an omnichannel model.

DZIK is one of the most recognisable Polish brands in the sports products segment. In recent years, it has been growing rapidly both in online sales and in the largest retail chains. The growing scale of operations required a facility that would combine logistics with the daily work of the team. A place that streamlines processes but also supports people and the brand's organisational culture.

DZIK's new location will comprise over 11,000 m2 of warehouse space and over 700 m2 of office space, designed not only for efficiency but also for the energy with which the brand operates daily. The offices will be surrounded by greenery, with a view of the forest. It is a well-thought-out working environment – with a modern chillout zone, social facilities and the possibility of creating an outdoor relaxation area. The brand consistently ensures that development means quality – both in its products and in the way the team operates.

The process of selecting and negotiating the new DZIK space was carried out in cooperation with Querco Property, which supported the brand at every stage of the investment and was also responsible for advising and coordinating the transaction.

The new Panattoni Park Warsaw South IV hall is being built in cooperation with the investor, Griffin Capital Partners.

Panattoni Park Warsaw South IV is a warehouse and logistics complex located in Nadarzyn, directly on the S8 expressway and the Paszków junction. Thanks to its proximity to Warsaw (20 km to the city centre), Chopin Airport (18 km) and convenient connections to national routes, the park is particularly attractive to the eCommerce and logistics sectors and operators providing urban distribution services. The completed stage is fully commercialised, with companies such as Neopak and Prajo operating there.

Ultimately, the park will cover over 85,000 m2 of modern space in three halls. Completion of the new stage is planned for Q2, 2026. The investment will undergo BREEAM certification at the high Excellent level, which will translate into lower operating costs for tenants and high energy efficiency.

DHL Supply Chain has signed a memorandum of understanding (MOU) with RLCold, a real estate development firm specialising in cold storage warehousing and processing for the food and beverage (F&B) sector. The partners are set to develop more than 464,515 m2 of advanced temperature-controlled facilities across North America and will jointly pursue multi-temperature distribution centres.

Under the MOU, DHL Supply Chain will combine its operational expertise and customer insights with RLCold’s design, project management, and construction capabilities to accelerate the delivery of turnkey food-grade cold storage solutions across North America.

This effort is not simply about expanding capacity. It will close the critical gaps in today’s cold-chain infrastructure and deliver smarter, technology-enabled facilities online where they’re needed most.

In top US markets, the average age of cold-storage warehouses is about 31 years making the need for modern, automation-ready facilities in the right locations a priority for food & beverage brands.

The partners will deliver warehouses designed to meet the US Food and Drug Administration’s Food Safety Modernisation Act (FSMA) programmes and include multi-temperature zones and docks; humidity management and air quality control systems; as well as high-clearance, high-density racking designed for intelligent, space-efficient storage. Additionally, airtight construction, advanced refrigeration controls, and innovative sustainable energy solutions will be featured in building designs to optimise operation costs and reduce carbon footprint.

Shifts in demographics and the rise of online grocery and food delivery services are driving demand for strategically located, multi-node cold storage networks with high-capacity storage and automated handling that improve accuracy, protect freshness, and reduce obsolescence. The DHL/RLCold partnership will offer both dedicated and multi-tenant facilities, allowing customers the flexibility to scale seasonally and by channel. Additionally, DHL’s IT platforms and operational solutions will provide end-to-end visibility, support food-safety programmes, and manage shifting demands.

Initial sites are expected to progress through design and predevelopment during 2026, with phased deliveries based on customer commitments and regional demand.

Making the case for advanced F&B cold storage solutions:

> Aging infrastructure: The average age of US cold storage facilities is ~31 years underscoring the need for modernisation.
> Shifting consumer preferences: Consumers are buying more fresh, organic, and premium foods, which require robust cold chains.
> E-grocery sales reached record levels: US online grocery sales reached a record US$12.7 billion in Dec. 2025 driving the push for advanced facilities in populous areas.
> Growing meal-kit delivery market: US meal-kit delivery service is expected to grow at a CAGR of 10.7% by 2030 driving demand for near-consumer multi-temperature networks.
> New traceability requirements: By July 2028 the US FDA FSMA 204 will require enhanced traceability for foods on the Food Traceability List (FTL)

Kuehne + Nagel has signed a lease agreement with Fraport AG for a new 7,600 m2 air cargo facility in CargoCity South at Frankfurt Airport. Developed by Fraport AG, the facility marks a strategic investment in Kuehne + Nagel’s global air logistics network with the aim to strengthen air cargo connectivity across key international trade lanes. Completion and handover are set for the end of 2028.

Frankfurt Airport is a major global cargo hub. The facility provides airside access within the secure airport zone. It supports efficient cargo movements between the terminal and aircraft parking areas, reduces aircraft turnaround time for handling, and enables seamless transfers across Kuehne + Nagel’s operations.

The layout features 16 gates and truck docks for efficient, scalable operations. It aims to improve logistics efficiency and boost flexibility to meet evolving customer and market needs.

Additionally, the facility design aligns with Kuehne + Nagel’s sustainability commitments. It has been awarded a German Sustainable Building Council (DGNB) gold standard certification, guaranteeing it will meet strict environmental standards. Besides LED lighting, heat pumps, EV charging stations, and smart metering, a large photovoltaic system will also be installed on the roof to generate renewable energy for the airport grid.

With the new facility, Kuehne + Nagel will grow its total footprint in CargoCity South to over 20,000 m2, confirming the Company’s long-term commitment to Frankfurt Airport as a key global air cargo gateway.

As supply chains become more dynamic, the new cargo facility provides the infrastructure, capacity, and connectivity needed to support the Company’s growth ambitions and keep goods moving. This enables it to better serve customers in fast-growing sectors like healthcare, semiconductor, high tech, and cloud infrastructure.

Nippon Express has opened the Tainan NEXT11 Warehouse in the southern Taiwanese city of Tainan and commenced full-scale operations there as of January 2026.

NX Taiwan has situated this new 15,460 m2 logistics hub within the Tainan Sinshih Logistics Park developed by Uni-President Enterprises Group, Taiwan's largest food and distribution conglomerate. The site boasts excellent access to the expressway network and major industrial parks, coupled with the geographical advantage of proximity to the Southern Taiwan Science Park (STSP), a hub for semiconductor-related companies.

Utilising the park's rampway structure, which allows large vehicles direct access to berths on each floor, the new facility enables shorter shipping lead times and flexible responses to demand fluctuations. It is also equipped with raised-floor platform loading docks, 24/7 manned security and surveillance cameras, and air-conditioning systems, all part of a robust configuration designed to provide the stringent quality control and security required for semiconductor-related cargo.

The NX Group will continue strengthening its logistics functions to keep pace with the Taiwanese market's anticipated growth and leveraging its global logistics network to provide worldwide support for its customers' supply chains.

Ecommerce homeware brand Laura James is set to expand its operations with a move to a new 20,233 m2 headquarters at DIRFT, one of the Midlands most successful logistics hubs. The move marks the Company’s first major real estate transaction, underlining the scale of the brand’s growth.

The Build-to-Suit project, developed in partnership with Prologis UK, will allow Laura James to consolidate its distribution operations, enhance its customer offering and invest in a larger workforce. Location was a critical factor, with DIRFT in Northamptonshire offering the scale, connectivity and sustainability credentials required to support the company’s ambitious strategy and business plan.

Laura James needed a new distribution facility that allows it to improve speed of service and enable the business to continue to grow at a fast pace without operational constraints.

Laura James will be sat alongside some of the UK’s most renowned household retailers at DIRFT, including Dunelm, Tesco and Sainsbury’s. The site, at the heart of UK logistics, offers fast access to the M1, M6 and A14, as well as dedicated rail freight connectivity – enabling efficient, nationwide distribution.

The new facility, DC8, will target BREEAM Outstanding and EPC A+ ratings, with features including rooftop solar PV to support cost-effective operations. Laura James will also benefit from DIRFT’s PARKlife amenities, designed to support wellbeing, mobility and workplace experience.

As part of the deal, Laura James will take advantage of the Prologis Essentials platform to support their new HQ fit-out. From advanced racking and Material Handling Equipment to smart‑building infrastructure, automation and backup power, Prologis Essentials is delivering tailored solutions to ensure operational readiness and efficiency from day one.

Construction of Laura James’ new headquarters started in September 2025, with base build expected to take nine months. Laura James will exit their current Sheffield facility during June with its new facility expected to be fully operational from September 2026.

SEGRO has concluded five further leases totalling around 6,000 m2 at SEGRO Park Düsseldorf Flingern, Germany. This means that almost two-thirds of the park's first construction phase will be leased shortly after its completion at the end of January 2026. Currently, only three light industrial units, one urban logistics unit and a smaller area of around 500 m2 are still available.

New customers include a leading international courier and logistics company, a global leader in express air freight with a German branch, which has been active in Germany for many years. The Company is leasing 2,373 m2 of urban logistics space at SEGRO Park Düsseldorf Flingern.

Another new customer is the German branch of the international online supermarket Picnic. Picnic GmbH will use 2,152 m2 of light industrial space for its local last-mile logistics. Early leasing during the construction phase made it possible to take the Company's specific requirements into account, including a covered Sprinter delivery area.

Ingo Kleinow Sanitär- und Heizungsbaumeister, Posbank Europe GmbH and PBC Linear Europe GmbH are three further companies that have opted for units measuring 473 m2 each. These are located in the SEGRO Park Düsseldorf Flingern area, where SEGRO has specifically designed smaller space sizes in order to appeal to as broad a customer spectrum as possible. These units are characterised by the low-emission timber construction of the supporting structure and façade, with the exterior cladding consisting of energy-efficient rock wool composite panels.

Ingo Kleinow Sanitär- und Heizungsbaumeister is active in the field of sanitary, heating and pipe technology and offers its services under the label ‘Notfallheizung24h’ – an emergency service for heating and air conditioning technology. Posbank Europe GmbH is a subsidiary of Posbank Ltd, headquartered in Seoul (South Korea), and part of an international provider of point-of-sale solutions for retail and catering.

PBC Linear Europe GmbH is a wholly owned subsidiary of PBC Linear, based in Roscoe (USA). The Company manufactures linear guidance systems and serves the entire European market from its base in Germany. PBC Linear Europe GmbH is already an existing SEGRO customer and was previously located at SEGRO Park Düsseldorf Süd. Due to its growth, the Company has decided to move to a new location in SEGRO Park Düsseldorf Flingern.

The first construction phase of SEGRO Park Düsseldorf Flingern comprises three buildings with a total of around 22,400 m2 of hall space, including office and service areas. The flexibly divisible units, ranging in size from around 400 to 9,500 m2, are suitable for companies from a wide range of industries. SEGRO began construction in 2024 on a speculative basis due to the quality of the location. The Company acquired the approximately 19-hectare site in 2022 from various subsidiaries of thyssenkrupp AG.

In developing the site, SEGRO is focusing not only on a central location and modern facilities, but also on comprehensive ecological and social sustainability. All buildings meet the BEG40 energy standard. Office roofs and facades will be greened, and photovoltaic systems with a total output of 1.6 MWp will be installed on the hall roofs (first construction phase). In addition, more than 50 parking spaces with electric charging stations and charging points for e-bikes are planned. SEGRO is aiming for DGNB Platinum certification for the buildings in the first construction phase.

The courier and logistics company was brokered by Logivest, and Posbank Europe GmbH by RED Property. Vidan brokered Ingo Kleinow Sanitär- und Heizungsbaumeister. The deal with Picnic GmbH was concluded directly between SEGRO and the Company.

DHL Group has announced the expansion of its life sciences arm, DHL Health Logistics, with the development of a €10.0 million Pharmaceutical Hub in Singapore. This investment bolsters regional Life Sciences and Healthcare (LSHC) infrastructure.

In the life sciences and healthcare sector, the requirement for reliable and secure logistics continues to grow as global supply chains become increasingly complex.

The demand for specialised healthcare logistics is rising, driven by global health challenges, an ageing population, and the development of advanced therapies. In Singapore, the biomedical sector produces goods valued at nearly S$38.0 billion for global markets. The industry requires a health logistics infrastructure capable of accommodating the increasing volume and complexity of life-saving products distributed from regional hubs to the rest of the world.

In the modern healthcare supply chain, every step impacts patient well-being and critical research. Innovation in medical shipping is no longer optional; maintaining stringent temperature control for pharmaceuticals and navigating the regulatory demands of medical devices is critical.

By aligning with Singapore's strategic vision, DHL provides the precision and reliability to support scientific progress and ensure that products are handled as required by the healthcare ecosystem.

DHL leverages an extensive global network spanning over 220 countries and territories to facilitate seamless international logistics. Through DHL Health Logistics and its services, the Group utilises dedicated healthcare hubs and warehouses within a GDP-compliant infrastructure. This allows the Group to support the global healthcare ecosystem with a combination of high-capacity transport and local handling.

With its Medical Express service (WMX), DHL Express ensures secure and compliant transport of sensitive shipment such as investigational drugs, medicinal products, and active pharmaceutical ingredients (API). The service offers a range of temperature-controlled solutions, from ambient to ultra-deep frozen (below -180C). All solutions are fully compliant with UN 3373 and IATA Dangerous Goods standards.

Supported by a medical courier framework, DHL Health Logistics is optimised for urgent medical needs through priority delivery and time-definite collection schedule. All shipments are managed by certified specialists to ensure adherence to international healthcare standards and rigorous quality management certifications.

DHL has strengthened its healthcare logistics capabilities in Singapore with the addition of the €10.0 million pharmaceutical hub, featuring specialised temperature zones and GMP-compliant infrastructure.

Located near Tuas Biomedical Park, this facility reinforces Singapore's position as a strategic hub for Asia-Pacific, offering efficient connectivity to Changi Airport and Tuas Mega Port. These investments are part of a broader commitment to invest €500.0 million into regional health logistics by 2030, supporting resilience in global healthcare supply chains.

The expansion of DHL Health Logistics is intended to support improved patient outcomes by facilitating timely delivery of critical medicines and medical devices. By strengthening its infrastructure, DHL provides the reliability required for shipping medicine and healthcare products through every stage of the supply chain:

> Pharmaceutical Logistics: DHL maintains GxP compliance and operational efficiency through strategic investments like the new Singapore Pharma Hub, which manages demand surges and large-scale vaccine distribution.

> Clinical Trial Logistics: The network provides specialised handling for Investigational Medicinal Products (IMP) and biological samples, supported by a global infrastructure of GMP-compliant depots and temperature-monitored shipping.

> Medical Device Logistics: "Device Final Mile" facilitates the delivery of medical devices and equipment directly to healthcare facilities. Aftermarket support maximises equipment uptime by supplying spare parts and repairs.

> Speciality Pharmaceutical Logistics: DHL ensures cold chain integrity across a spectrum of requirements, from ambient to cryogenic (-196C) environments, utilising real-time monitoring to mitigate risks for sensitive shipments.

> Consumer Healthcare Logistics: To maintain product availability, DHL utilises automation and omnichannel fulfilment to bridge the gap between manufacturers and retail platforms.

> Aid and Relief Logistics: Leveraging a global network and dedicated Control Towers, DHL provides rapid response capabilities and procurement expertise for humanitarian missions and disaster relief.

This investment is a cornerstone of the DHL Group Strategy 2030, which focuses on expanding digitalisation, sustainability, and specialised infrastructure. By aligning these innovations with the evolving needs of the life sciences industry, DHL aims to be a trusted logistics partner for healthcare manufacturers and researchers worldwide. This vision also reaffirms DHL Express's role as a pioneer in international logistics, transforming supply chains into reliable lifelines for patients worldwide.

Airbus Helicopters has officially opened its new regional logistics hub in Singapore, marking a major expansion of its support and services footprint in Asia-Pacific. This new centre of excellence is designed to streamline the supply chain, providing faster and more reliable parts distribution to customers across the 21 countries and territories it serves.

This new regional logistics hub marks a pivotal milestone, positioning Singapore at the heart of the Company’s global support network. Establishing this capability is more than expanding its footprint. It is about building a logistics supply chain that is agile. This hub represents a long-term investment in customers’ mission success, delivering faster, reliable, and predictable support across Asia-Pacific well into the future.

The Singapore hub serves as the flagship regional logistics network that includes additional parts distribution centres in Hong Kong and Perth, Australia. Together, these sites support 12 customer centres equipped with dedicated material support and logistics teams managing spares, repairs, aircraft on ground (AOG) and HCare programmes.

With nearly 2,000 m2, the facility features four loading bays and houses more than 20,000 part numbers for new spares as well as maintenance, repair and overhaul (MRO). To maximise efficiency, the logistics hub is equipped with four vertical lift modules (VLM) – an automated, high density storage system which utilises a central extractor and vertical column of trays to store and retrieve items, delivering them directly to an operator’s designated access point. The integration of VLM technology allows for optimised floor space and significantly faster retrieval times for critical components, ranging from small consumables to larger assemblies.

The logistics hub also includes a specialised 55 m2 elastomers room designed to safeguard the most sensitive inventory. Recognising that rubberised materials are susceptible to degradation, a controlled temperature range between 5C and 25C is maintained within the dedicated space. This ‘warehouse within a warehouse’ structure provides enhanced protection for up to 2,000 critical components, ensuring long-term reliability and operational integrity.

The facility launched with an initial inventory of €10.0 million, with plans to double as the hub reaches full operational capacity.

CTP has delivered 24,000 m2 of high-tech industrial space for Quanta Computer Inc., a leading Taiwanese manufacturer of products for cloud computing, artificial intelligence and autonomous driving, at CTPark Jülich in Germany’s North Rhine-Westphalia region.

Quanta signed a 15-year lease with CTP to develop and operate the high-tech production site. The facility includes around 17,000 m2 of production and logistics space as well as 7,000 m2 of office, technical space, and amenity for employees. Quanta’s new facility is creating up to 500 new jobs for people living in and around Jülich.

Quanta moving into its new high-tech facility at CTPark Jülich is further evidence of the ‘nearshoring’ trend that sees growing demand from Asian companies looking to expand their production space in Europe driven by a changing geopolitical environment and EU policies. As a result, Asian multinationals like Quanta are increasingly seeking to build resilient supply chains by nearshoring their production capabilities closer to their end European customer base.

Quanta will manufacture state-of-the-art high-tech products at CTPark Jülich, ensuring it can supply its customers across Europe quickly and efficiently. CTP has decades of experience of developing and operating innovative facilities for clients and worked closely with Quanta to meet its specific requirements that included building a product testing laboratory and a standalone cleanroom, alongside robotics and automated production lines. The new building is highly energy efficient, its roof is equipped with a photovoltaic system, and CTP is aiming for DGNB Gold certification for its sustainable performance.

CTPark Jülich is part of the inter-municipal commercial and innovation area known as Brainergy Park Jülich in the north of the city, within easy reach of Aachen and Cologne. The Park is located near the A44 motorway and close to the German borders with Belgium and the Netherlands. Via the motorway network, major European cities including Frankfurt, Brussels and Amsterdam are all easily accessible.

Asian clients now represent around 20.0% of all new leases signed across CTP’s portfolio of industrial and logistics space each year. In addition to Quanta, other Asian clients of CTP include the Chinese electric car company NIO and Taiwanese computer manufacturer Inventec.

Arvato is significantly expanding its cross-border logistics capabilities in Türkiye. This strategic move will enable faster, more reliable and more controllable international trade for clients in Europe and around the world.

With the opening of the Company’s first Type A General Bonded Warehouse and the expansion of its nationwide logistics footprint, it is systematically strengthening its role as a key execution partner for cross-border supply chains within its global network. As global trade grows, Türkiye continues to be an important cross-border logistics hub between Europe and Asia. Türkiye’s logistics market, driven by an eCommerce volume of around US$90.0 billion, including approximately US$8.0 billion in cross-border trade, remains one of Arvato’s strategic growth markets.

The newly opened bonded warehouse in Istanbul-Tuzla offers 5,000 m2 of indoor storage space and complements Arvato’s existing logistics operations in the region. It also enables clients to manage cross-border flows more efficiently, reduce lead times, and gain greater transparency and operational certainty across customs and distribution processes.

With the expansion of its service portfolio, Arvato is now offering integrated bonded and non-bonded warehousing, customs services, transport coordination and value-added logistics such as labelling, packaging and quality control. Clients benefit from faster customs clearance, flexible capacity management, and end-to-end logistics solutions tailored to the requirements of international trade.

In parallel, it is expanding a nationwide network of bonded and non-bonded warehouse partners across Türkiye. This network adds flexibility and resilience, allowing clients to scale capacity quickly and adapt to fluctuating cross-border volumes without compromising service quality.

The bonded logistics setup serves key industries including fashion, technology, healthcare and automotive, enabling Arvato to act as an end-to-end logistics partner from import and customs clearance to order fulfilment and distribution.

The expanded logistics footprint not only strengthens its market position but also supports local employment. In the first phase, the investment creates new job opportunities and further reinforces its operational presence in the country. Today, Arvato operate a large-scale logistics network in Türkiye with more than 3,000 employees. With the planned addition of more than 90,000 m2 of bonded and non-bonded capacity, it is significantly strengthening its ability to support cross-border growth.

P3 Logistic Parks has confirmed its position as one of the key leaders in the commercial real estate market in Slovakia last year. P3’s achievements in 2025 are the result of a combination of strategic acquisitions, stable lease extensions with key clients, and continued tenant demand for high-quality space in proven locations. A major milestone was the largest leasing transaction on the market – the extension and expansion of cooperation with MX Logistika – as well as an acquisition in the P3 Nové Mesto location. Despite turbulent market conditions will continue to pursue its expansion ambitions this year as well.

P3 Logistic Parks closed 2025 in Slovakia with the top market transaction of the year. P3 signed a lease extension and at the same time expanded the leased area at P3 Bratislava D2 in the Záhorie region for client MX Logistika – to a total of nearly 88,000 m2, with newly added space accounting for almost 20.0%. MX Logistika is part of the Austrian XXXLutz Group and serves as a distribution warehouse for the MÖBELIX furniture and home accessories retail chain. In addition to Slovak stores, MX Logistika supplies goods to outlets in Austria, the Czech Republic, Hungary, Croatia, Slovenia, Poland, Romania, and Switzerland.

Cushman & Wakefield acted as the commercial real estate advisor on this transaction. This transaction confirms that high-quality industrial projects in strategic locations continue to maintain a strong position and high tenant demand. In the case of MX Logistika, the combination of location and the flexible approach of P3 Logistic Parks throughout the entire process played a key role.

Another step confirming P3 Logistic Parks’ position as one of the local leaders in the logistics real estate segment was a significant year-end acquisition of nearly 100,000 m2 from Stoneweg Europe Stapled Trust (SERT). This transaction doubled P3’s presence in the highly sought-after Nové Mesto nad Váhom location. At P3 Nové Mesto, key clients ZF Active Safety Slovakia s.r.o. (4,405 m2) and Pilous SK (4,239 m2) also extended their leases in the final quarter of 2025.

Strong leasing results further underline the success of 2025 for P3 Logistic Parks in Slovakia. Over the course of the year, P3 leased a total of 118,930 m2 of warehouse space. The largest share of this volume consisted of the extension and expansion of MX Logistika, one of the portfolio’s key clients. At the same time, P3 expanded its tenant base with several new companies, including Faurecia at P3 Bratislava, as well as Jungheinrich and DSV at P3 Senec, and Geis at P3 Žilina.

Portfolio growth was also supported by acquisitions: in 2025, P3 acquired 122,113 m2 of warehouse space through acquisition transactions, along with approximately 56,300 m2 of land/areas designated for further development.

Although the Slovak market is generally experiencing turbulent and uncertain times and market cooling can be expected at least until mid-2026, Slovakia has strong future potential.

FedEx announced the implementation of a new autonomous robotic system from Berkshire Grey, Inc., a leader in AI-enabled robotic solutions that automate supply chain processes and a subsidiary of SoftBank Group. A multi-year collaboration between FedEx and Berkshire Grey created physical AI for safer, smarter logistics, and resulted in the Scoop robotic package unloader. The Scoop system has been engineered specifically for automated trailer unloading and will help optimise FedEx operations to be safer and more efficient.

FedEx continues to prioritise innovation focused on creating solutions that improve team members’ day-to-day workflow and their work safety. Unloading trailers with a wide range of package types has long been one of the most unpredictable and physically demanding tasks in parcel hubs operations. Scoop addresses these challenges by delivering continuous flow, handling all package types, and providing operator access when required.

Scoop is powered by physical AI to deliver fully autonomous trailer unloading through a bulk-handling approach. This breakthrough solution enhances the safety of employees, boosts operational efficiency, and establishes a new standard in automated logistics in highly complex environments.

Key system innovations include:

> Enhanced safety and maintainability: Built on safety-first principles, Scoop supports human assistance for handling of exceptions.
> Continuous flow: Designed to deliver consistent inbound flow, not just optimise for individual pieces.
> Minimal facility impact: Designed to be integrated seamlessly into existing FedEx facilities.
> AI-driven autonomy: The system recognises a variable package mix and makes real-time decisions to safely manoeuvre inside trailers, fully emptying them at high throughput before autonomously exiting the trailer.

The pilot is underway, and FedEx will have the first Scoop systems in operation later in calendar year 2026.

In 2021, FedEx deployed Berkshire Grey’s Robotic Product Sortation and Identification (RPSi) systems to robotically sort small packages that arrive daily and require distribution. Shortly thereafter, in 2022, the companies expanded their relationship, announcing they entered into an agreement for new development activities that will provide broader AI robotic capabilities to help improve the safety and efficiency of FedEx package handling operations globally.

FedEx has added eight additional electric Mercedes-Benz eVito panel vans to its Singapore delivery fleet. With these additions, more than a quarter of the entire Singapore pickup and delivery fleet is electric.

The new EVs boast advanced features that prioritise driver comfort, safety, and efficiency, including a 360-degree parking camera for safer manoeuvring in tight parking and loading spaces, and Multibeam headlamps with Adaptive Highbeam Assist Plus for enhanced visibility. These EVs will also retain the FedEx fleet specifications introduced with last year’s eVito panel vans, such as 270-degree rear swing doors for easy access and sliding doors on both sides for faster deliveries.

With a load capacity of 923 kg and an estimated range of up to 321 km per full charge, these EVs are well-suited to the demands of Singapore’s delivery routes.

Owned and operated directly by FedEx, these new electric vehicles (EVs) are 2024-model eVito panel vans, representing the latest variant. They build on last year’s deployment of earlier-generation eVito panel vans, replace diesel-powered vehicles, and reinforce the company’s commitment to fleet electrification and sustainable logistics.

The eight new EVs are projected to reduce tailpipe CO2 emissions by roughly 38 tons annually. Combined with the existing eVito panel vans, Singapore’s fleet of 39 EVs now avoids an estimated 186 tons of CO2 each year. These efforts align with the Company’s global goal of achieving carbon-neutral operations by 2040.

These efforts are further supported by the integration of solar energy at the FedEx South Pacific Regional Hub, where the EVs are stationed. Since January 2025, over half of the hub’s electricity has been generated from on-site solar panels, promoting more sustainable operations.

Inter IKEA Group, the multinational company specialising in home furnishings and accessories, takes a new and significant step forward in decarbonising transportation in Italy. The Company announced the launch of its first fully electrified heavy road transport project, developed in collaboration with LC3 Trasporti, a long-standing logistics partner, and Mercedes-Benz Trucks, a leading technological provider in electric mobility. The goal of this partnership is to anticipate European targets for mobility decarbonisation and contribute to building a more sustainable, quiet, and efficient logistics system.

The initiative, officially starting in October, marks the beginning of a new era for IKEA’s logistics operations in Italya, progressive journey toward the electrification of long-distance transport, aimed at achieving tangible reductions in emissions and the environmental impact of operational activities. The project foresees a gradual implementation phase: from the two BEV (Battery Electric Vehicle) trucks already in operation, the fleet will expand to more than ten electric vehicles Mercedes-Benz eActros 600 by Q3, 2026. These trucks will be used for daily container transport services to and from the ports of Genoa and La Spezia, with destinations including the Piacenza Distribution Centre, as well as for daily store deliveries across Northern Italy departing from the same logistics hub.

Once fully operational, the project will enable over 1,200,000 kilometres of zero-emission travel per year, completely eliminating CO2 emissions and making a substantial contribution to reducing the climate impact of road transport. Thanks to the shared experience and vision with LC3 Trasporti - which has long been committed to testing low-impact solutions - and the technological innovation of Mercedes-Benz eActros 600, equipped with next-generation full-electric propulsion systems, IKEA is taking another decisive step toward the decarbonisation of its national logistics network.

Beyond environmental benefits, the introduction of these new electric vehicles also brings zero noise emissions, a particularly valuable advantage for night-time delivery operations to retail locations. This improves the quality of life for local communities and reduces noise pollution in urban areas.

With this project, IKEA reaffirms its commitment to phasing out fossil fuels and internal combustion engines, even in the heavy transport sector - traditionally one of the most challenging to decarbonise.

This project marks a turning point for LC3 Trasporti. The energy transition is a challenge it has chosen to face with determination. The introduction of the eActros 600 in partnership with IKEA and Daimler Truck Italia demonstrates that collaboration across the supply chain is the only real driver of change. The Company believes that the time for isolated experiments is over - what is needed now are scalable, concrete, zero-impact solutions.

Maersk has taken delivery of the first vessel in a new series consisting of six mid-size vessels. The delivery took place at Yangzijiang Shipbuilding Group’s yard in Jingjiang, China, where the vessel was named Tangier Maersk.

The six vessels in this new series have a capacity of 9,000 TEU each and are equipped with a dual fuel engine able to operate on methanol.

On its maiden voyage, Tangier Maersk will call Shanghai and enter deployment on Maersk’s TP15 service, which connects East Asia with the US Gulf Coast via the Panama Canal.

With the launch of Tangier Mærsk, Yangzijiang Shipbuilding Group delivered the vessel three months ahead of schedule. Maersk will take delivery of four additional vessels in the series later this year, followed by the final delivery in early 2027.

Lufthansa Cargo welcomes three executives to new positions: On 15 February 2026, Gunnar Loehr will take over as Head of Region DACH & KAM EMEA. In this role, the former Head of Supply Management and Infrastructure at Lufthansa Cargo will coordinate and manage the markets in Germany, Austria and Switzerland as well as key account management for the regions of Europe, the Middle East and Africa.

He joined Lufthansa Cargo in 2002 in the region of Spain and Portugal. From 2004, he was responsible for the Arabian Peninsula, Levant, and Iran region. He moved to Lufthansa Cargo headquarters in Frankfurt to head strategic projects in 2008 and subsequently took over as Head of Global Handling Processes and Performance in 2011. In 2015, he took over responsibility for the freight markets in Latin America. Since 2019, he has been heading Lufthansa Group's logistics procurement, as well as supply management and infrastructure at Lufthansa Cargo. Gunnar Loehr succeeds Philip Rauchhaus, who took over the position of Vice President of Global Revenue Management and Pricing at Lufthansa Cargo on 01 January 2026. Philip Rauchhaus succeeds Helge Krueger-Lorenzen, who is retiring after 38 years with the Lufthansa Group.

Markus Cirjan will take over the operational management of the Lufthansa Cargo hub in Munich at the earliest possible date. The current Director of Sales & Handling USA Mid-Atlantic & Ohio Valley joined Lufthansa Cargo in Atlanta in 2013 in the Lean Management division. This was followed by various projects and positions in sales and handling at the US stations in Atlanta, Charlotte, and Washington. In 2023, he took over the management of the Sales and Handling department for the Mid-Atlantic and Ohio Valley region from Washington. Markus Cirjan succeeds Ivo Seehann, who has been taking on new responsibilities since the end of 2025 as part of the closer cooperation with Swiss WorldCargo.

bnode, a leading logistics player in Europe, announced the appointment of Jean-François Pagnoux as Chief Executive Officer of its third-party logistics operations in France, which will soon be unified under the paxon brand. Effective 02 February 2026, this appointment supports the group’s strategy to strengthen its leadership in third-party logistics across the European and North American markets and to accelerate the development of paxon, which brings together all of the Group’s 3PL activities (Staci, Radial, Active Ants and their subsidiaries).

Jean-François Pagnoux succeeds Thomas Mortier as head of the French subsidiary. Thomas Mortier successfully led Staci’s international transformation in recent years and its integration into bnode. Jean-François Pagnoux will report directly to Rainer Kiefer, CEO 3PL Europe and Staci Americas.

With more than twenty years of experience in executive leadership roles, Jean-François Pagnoux is a recognised expert in omnichannel transformation and business development within complex, international environments. His track record demonstrates his ability to lead large-scale projects and deliver sustainable growth.

He began his career by founding a web agency, an entrepreneurial experience that shaped his strong client-focused, performance-driven and execution-oriented approach. He then joined Accenture, where he supported major companies such as La Fnac, Leroy Merlin and Dixons on strategic, digital and operational transformation projects. He later joined the Carrefour Group, where he successively served as Transformation Director and, for nearly six years, as Managing Director of Carrefour Retail Services, leading the modernisation and growth of both B2B and B2C activities. Prior to joining bnode, he was Managing Director of Logista Retail France, where he notably accelerated digitalisation, operational excellence and commercial development across a network of 14,000 points of sale.

France is Staci’s historical stronghold and a key driver of its 3PL business in Europe. It is a critical base for the deployment of its business unit. With Jean-François Pagnoux, it is appointing an experienced leader to accelerate growth and strengthen local execution.

PostNL announced that Selma Postma holds the position of Managing Director E-commerce as of 01 February 2026. In this role, she leads the new E-commerce Business Unit and becomes a member of PostNL’s Executive Committee.

The eCommerce market continues to grow and is also entering a next phase in which sustainable growth, collaboration across the entire value chain and making smart choices together with customers are becoming increasingly important. Selma brings extensive experience in retail, eCommerce and digital transformation, and has led complex transformation and growth programs in various international roles.

Selma has more than 25 years of experience in retail, including large-scale transformation and change programmes. She worked at Ahold Delhaize in a variety of (international) management roles. These included Chief Digital Officer of Ahold Delhaize Europe & Indonesia, Chief Marketing Officer of supermarket brand Stop & Shop (US), Brand President of eCommerce company Peapod (US), and General Manager of AH Online.

DPD has confirmed the appointment of Justin Pegg as CEO of DPD UK, with former CEO Elaine Kerr becoming Chairwoman. As Chairwoman, Elaine will continue to help guide and shape DPD UK’s overall strategic direction, working closely with the UK’s Exec Board.

Under the guidance of Elaine over four and a half years, the business has achieved remarkable success and followed a strong, positive trajectory.

Currently COO, Justin Pegg has over 35 years of service at DPD and has been a member of the Senior Leadership Team since 2016 and an Executive Director since 2020. In his new role, Justin will be CEO of DPD UK, and Head of cluster UK/Ireland.

The new organisation will be effective from 02 February.

DX has announced three new appointments to its Executive Leadership Team to support the Company’s next stage of growth. These appointments form part of a broader programme to enhance and consolidate leadership strength across the business and follow Ian Truesdale’s appointment as Chief Executive Officer in July 2025. The new appointments will help to reinforce DX’s focus on operational delivery, service quality and long-term value creation, and build on the experience already in place across the organisation.

Paul Ingram has been appointed Managing Director of DX Freight. Paul has been with DX for over six years and was previously Operations Director and National Hubs Director. His appointment reflects the quality and strength of the Company’s existing management and DX’s commitment to developing talent from within the business.

Martin Illidge has been appointed to the newly-created role of Director of Operational Development. Martin joined DX in 2011 and brings more than 30 years of industry experience. In this new role, he will focus on driving operational improvement across service delivery, productivity and performance.

Mark O’Sullivan has joined DX as Managing Director of DX Express, with responsibility for secure, time-critical courier and mail services. Mark brings extensive experience from across the parcels sector, having previously held senior roles at DPD and Yodel.

These new appointments to the Executive Leadership Team follow recent corporate activity. In early January 2026, DX acquired HBC Logistics and, in mid-January, agreed a strategic partnership with Rhenus Logistics. HBC Logistics has expanded DX’s Logistics and SameDay capability, while the Rhenus partnership sees DX assume responsibility for Rhenus’s two-person home delivery services across the UK and Ireland.

Primeline Group has announced the appointment of Pamela Quinn as Chief Executive. She most recently served as UK & Ireland Managing Director at Kuenhe + Nagel. Pamela will commence work as CEO on 02 March.

She will replace current CEO Tim Cummins who will transition to a role as co-Chair of the Board, helping to drive growth in the UK and Ireland alongside company founder Danny Geoghegan.

Primeline Group now serves more than 10,000 retailers and is making 30,000 deliveries every week throughout Ireland & the UK. In recent years Cummins has led a series of acquisitions that further cemented Primeline Group’s position as an industry leader. More than 25 years since he was appointed, he feels that now is the ideal time for someone to bring a fresh perspective.

At what is in many ways a challenging time in the global economy, having someone of Pamela Quinn’s professional calibre on board means Primeline Group will be ideally positioned to lead and identify opportunities to secure continuing growth and expansion.

DHL Express has announced the appointment of Lee Kwong Ming as the new General Manager of the Central Asia Hub, effective 01 February 2026. He replaces Samuel Lee, who has taken on a new leadership role within the organisation, as Managing Director for Taiwan. In his new capacity, Kwong Ming will oversee the Central Asia Hub, one of DHL Express’s three most important global hubs.

Based in Hong Kong, Kwong Ming brings over 30 years of experience in express logistics and high‑volume air hub operations. Throughout his career, he has held multiple senior roles across hub operations, network planning, automation engineering and process transformation, giving him end-to-end expertise across the full operational spectrum. Prior to his new appointment as General Manager, he was most recently the Hub’s Operations Head, where he played a major role in three distinct phases of Central Asia Hub’s expansions. His expertise in driving operational transformation and delivering service performance will be central to Central Asia Hub’s next phase of development.

The Central Asia Hub is one of the most critical nodes in the Company’s global network, especially with Hong Kong’s expanded airport capacity and the continued rise of cross‑border trade and eCommerce.

This leadership transition underscores DHL Express’s continued commitment to strengthening its Asia Pacific strategic focus, enhancing cross‑border eCommerce capabilities, boosting regional connectivity, and expanding operational resilience to facilitate global trade flows.

With Central Asia Hub situated at Hong Kong International Airport, it serves both as a key pillar of DHL Express’s global aviation network as well as a vital contributor to Hong Kong’s position as one of the world’s busiest cargo gateways. Central Asia Hub will also continue to be the connector between Chinese Mainland and global markets, enabling faster, more efficient international trade and supporting the growth of businesses across the region.

DHL Express operations network comprises three global hubs in Hong Kong, Leipzig, and Cincinnati, as well as approximately 3,800 facilities.