INTERNATIONAL logistics business Kuehne + Nagel has reported an increase in sea freight volumes for the first half year of 2019.
According to results released to the market, sea freight grew volume in the first half of the year by 4.5%, compared with overall market growth of 2.5%.
“With 2.392 million TEU, the group managed 103,000 units more than in the same period of the previous year,” a company market statement read.
“The group’s selective growth strategy, effective cost control and focus on customer service are yielding results. The demand for digital sea freight solutions has also shown positive developments.”
The group’s air freight market volume decreased 5.8% to 813,000 tonnes compared with the same period last year, the business blaming “stagnating markets” in some key industries.
“However, growth was achieved with industry solutions for pharma & healthcare, as well as for perishables,” K + N stated.
In the overland market, the business was reported to be doing “well above the market”.
“With a new digital booking platform, Kuehne + Nagel expanded its offering for overland in Asia,” a company statement read.
“Initially implemented in Thailand, the platform will be rolled out gradually throughout Southeast Asia.”
K + N International chief executive Dr Detlef Trefzger said they had achieved “a high level result in the first half of 2019”.
“This was due to the consistent implementation of our strategy in all business units,” Dr Trefzger said.
“Currently our focus is on addressing the significant changes in airfreight market conditions and on continuing our restructuring activities in contract logistics.”
