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Etihad Airways signs MoU with Chinese investment company
ABU DHABI: July 20, 2018. Etihad Aviation Group (E...

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IATA partner completes drone test flight programme
FARNBOROUGH, UK: July 17, 2018. Drone manufacturer...

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Hactl becomes first to complete IATA SFOC
HONG KONG: July 17, 2018. Hong Kong Air Cargo Term...

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Freightos and Lufthansa launch rate platform
LONDON: July 17, 2018. Lufthansa Cargo and Freight...

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Antonov building on 2017 growth
LONDON: July 17, 2018. Having recorded an 81 perce...

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Delta and Korean Air begin trans-Pacific cargo collaboration
ATLANTA: July 17, 2018. Delta Air Lines Cargo and ...

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Volga-Dnepr to order 34 new widebody freighters
FARNBOROUGH, UK: July 17, 2018. Volga-Dnepr Group ...

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APL Logistics joins Blockchain in Transport Alliance
SINGAPORE, July 16, 2018. APL Logistics has joined...

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Etihad Airways signs MoU with Chinese investment company...
IATA partner completes drone test flight programme
Hactl becomes first to complete IATA SFOC
Freightos and Lufthansa launch rate platform
Antonov building on 2017 growth
Delta and Korean Air begin trans-Pacific cargo collaboration...
Southwest Cargo begins first international operation with service...
Volga-Dnepr to order 34 new widebody freighters ...
APL Logistics joins Blockchain in Transport Alliance

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SCHINDELLEGI, Switzerland: March 01, 2017. Kuehne + Nagel has reported an increase in net profit to CHF720 million on net turnover of CHF16.5 billion for 2016, compared to CHF679 million and CHF16.7 billion respectively the previous year.

KN IntermodalCommenting on the results CEO Detlef Trefzger said the company was "well positioned for continued profitable growth, which we will accelerate by selected acquisitions".

Despite handling over four million TEU for the first time in 2016, K+N acknowledged the impact on its ocean business of "historically low freight rates" and pressure on margins, as well as weak development in the oil and gas industry.

However its airfreight business delivered "a very pleasing performance" last year as growth picked up in the fourth quarter and the company increased tonnage by 4.3 percent to 1.3 million tons carried in the 12-month period.

Net turnover in overland services rose 11.9 percent last year following expansion both in Europe and the U.S. that saw the integration of ReTrans, a Memphis-based provider of multimodal transportation management solutions acquired by K+N in 2015.

The company's contract logistics division produced a 5.7 percent gain in net turnover last year with the implementation of 100 new projects in the automotive, e-commerce, high-tech, consumer goods, aerospace, pharmaceuticals and healthcare sectors - supported by
 10 million square meters of warehousing.

Board chairman Joerg Wolle commented: "The Kuehne + Nagel Group is in excellent shape and in a strong competitive position. Based on the 2016 full-year results, the company can look forward to the future with confidence. "

Trefzger added: "In a market environment characterized by multiple challenges, we were successful with our focus on customer requirements, our solution-oriented approach and our balanced service portfolio. In all business units we gained market shares while further increasing overall profitability."

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