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News on third and fourth-party logistics service providers

It’s official: DSV acquires Panalpina

It’s official: DSV acquires Panalpina

Aug. 19 | Global transport and logistics company DSV A/S said it completed the acquisition of Panalpina Welttransport (Holding) AG on August 19. Swiss-based logistics firm Panalpina in a release said Denmark’s DSV settled August 19 the previously announced public...

Harbor Star reports modest increase in first-semester income

Harbor Star reports modest increase in first-semester income

Aug. 17 | Harbor Star Shipping Services assists more than 5,500 vessels per year throughout the Philippines. Photo from harborstar.com.ph Harbor Star Shipping Services, Inc. (HSSSI) reported a service income of P678.3 million for the first half of 2019, a 4% increase...

LBC Express net income in H1 down 54%

LBC Express net income in H1 down 54%

Aug. 17 | LBC Express Holdings, Corp. reported a net income of P548.95 million in the first half of 2019, a 54% drop from the P1.196 billion earned in the same period last year. In a regulatory disclosure, LBC said the lower income was due to net loss from one...

Chelsea Logistics H1 income shrinks 14.7%

Chelsea Logistics H1 income shrinks 14.7%

Aug. 16 | Image by OpenClipart-Vectors from Pixabay Chelsea Logistics and Infrastructure Holdings Corp. (CLIHC) posted a 14.7% decline in net income for the first half of 2019 to P361 million from P308 million year-on-year owing to higher finance costs and depreciation...

Industry groups vs PPA accreditation rule for port service providers

Industry groups vs PPA accreditation rule for port service providers

Aug. 13 | A recent Philippine Ports Authority (PPA) order that requires all port service providers to secure accreditation is meeting resistance from customs brokers, domestic shipping lines and truckers. In separate letters to PPA general manager Atty. Jay Daniel...

2GO sustains P188M loss in H1 amid shipping, fuel woes

2GO sustains P188M loss in H1 amid shipping, fuel woes

Aug. 13 | Image by OpenClipart-Vectors from Pixabay 2GO Group, Inc. incurred a net loss of P188 million in the first half of 2019, down from a net income of P197 million for the same period in 2018 as shipping revenues continue to decline and cost of services increased. The...

DP DHL logs revenue and EBIT growth, raises lower end of full-year forecast

DP DHL logs revenue and EBIT growth, raises lower end of full-year forecast

Aug. 12 | Deutsche Post DHL Group (DP DHL) reported an increase in revenue of 3.0% year-on-year in the second quarter, as all five divisions contributed to the positive development, and all regions of the world posted growth. For the period April-June, group revenue...

Contract logistics sustains strong market growth in 2018—Ti report

Contract logistics sustains strong market growth in 2018—Ti report

Aug. 12 | The global contract logistics market grew 4.9% in real terms in 2018, one of the fastest growth rates seen in recent years, new research from Transport Intelligence (Ti) reveals. Ti’s latest market report, Global Contract Logistics 2019, paints a picture...

PH cold chain industry projected to expand by up to 10% in near term

PH cold chain industry projected to expand by up to 10% in near term

Aug. 9 | Cold Chain Association of the Philippines president Anthony Dizon The Philippine cold chain industry is expected to continue growing by 8% to 10% in the next five years due to population increase and change in consumer preferences, according to the Cold...

PPA suspends TABS bookings from Aug 9-10 to clear backlog

PPA suspends TABS bookings from Aug 9-10 to clear backlog

Aug. 9 | Aug 9 massive traffic jam on roads leading to and from the ports. Photo from the Facebook page of Manila Mayor Isko Moreno Domagoso. The Philippine Ports Authority (PPA) has suspended truck bookings into Manila South Harbor through the Terminal Appointment...