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Sea freight leader Kuehne + Nagel takes lead in air freight
来源：shippingazette 编辑：编辑部 发布：2023/03/14 15:22:21
SWISS forwarding giant Kuehne + Nagel, long recognised as the sea freight leaders, has now secured its position as the market leader in air freight with its 2022 annual results.
K+N's acquisition of Apex Logistics, which it completed in July with the purchase of the remaining 11.6 per cent of shares from Apex management, has made it a market leader in air freight.
Kuehne + Nagel posted a year on year 30 per cent increase in net profit to CHF3.8 billion (US$ billion) drawn on revenues of CHF3.8 billion, up 20 per cent.
Operating profit fell 50 per cent in air logistics to CHF260 million, and revenue was down 39 per cent at CHF2.6 billion, reported London's Loadstar.
"The market in 2022 was characterised by a significant increase in freight capacities caused by a slowdown in economic activities, particularly in the last quarter of 2022," said the company.
"Air freight volume was 2.2 million tonnes at the end of December. The margin per 100 kg was at a very high level for the full year 2022. Demand for cargo capacity remained high on most trade routes. Following the turbulence in commercial aviation in the summer, supply of capacity remained volatile in the second half of the year."
It has invested heavily in the sector, taking three Atlas Air 747 freighters - the last ever to be made. It is not clear how long the contracts are for, but are thought to be between two and five years.
While forwarders may be regretting long-term commitments to full freighter capacity, one source said Atlas Air had not taken full advantage of the "crazy market highs" of the pandemic as it signed up long-term customers.
"But it also will not now renegotiate contracts downwards," the source said. "The only way out is by built-in flight cancellations in the contract, but you don't tend to get very many, just a few a year."
However while some forwarders may struggle to fill aircraft, K+N, via Apex, is expected to be in a stronger position than others. And it continues to invest.
Last week it said it established its first presence at a secondary airport, Birmingham, Alabama. K+N will start operating weekly international flights from April, with its first flight arriving from Stuttgart. K+N said the Alabama, route would help its automotive, aviation and pharma customers.
K+N's acquisition of Apex Logistics, which it completed in July with the purchase of the remaining 11.6 per cent of shares from Apex management, has made it a market leader in air freight.
Kuehne + Nagel posted a year on year 30 per cent increase in net profit to CHF3.8 billion (US$ billion) drawn on revenues of CHF3.8 billion, up 20 per cent.
Operating profit fell 50 per cent in air logistics to CHF260 million, and revenue was down 39 per cent at CHF2.6 billion, reported London's Loadstar.
"The market in 2022 was characterised by a significant increase in freight capacities caused by a slowdown in economic activities, particularly in the last quarter of 2022," said the company.
"Air freight volume was 2.2 million tonnes at the end of December. The margin per 100 kg was at a very high level for the full year 2022. Demand for cargo capacity remained high on most trade routes. Following the turbulence in commercial aviation in the summer, supply of capacity remained volatile in the second half of the year."
It has invested heavily in the sector, taking three Atlas Air 747 freighters - the last ever to be made. It is not clear how long the contracts are for, but are thought to be between two and five years.
While forwarders may be regretting long-term commitments to full freighter capacity, one source said Atlas Air had not taken full advantage of the "crazy market highs" of the pandemic as it signed up long-term customers.
"But it also will not now renegotiate contracts downwards," the source said. "The only way out is by built-in flight cancellations in the contract, but you don't tend to get very many, just a few a year."
However while some forwarders may struggle to fill aircraft, K+N, via Apex, is expected to be in a stronger position than others. And it continues to invest.
Last week it said it established its first presence at a secondary airport, Birmingham, Alabama. K+N will start operating weekly international flights from April, with its first flight arriving from Stuttgart. K+N said the Alabama, route would help its automotive, aviation and pharma customers.