GLOBAL logistics giant Kuehne + Nagel has reported an increased market share in the seafreight sector during 2018.

The Switzerland-based business has just released its annual results for 2018, with EBITDA increasing 5.1% to 1.2bn Swiss francs ($1.7bn) compared with the previous year.

In seafreight the company reported 7.7% volume growth, handling 4.7m TEU last year, an increase of about 335,000 TEU.

Significant new business was said to have been won with KN ESP, a new digital supplier management system. The company also said it launched another digital platform – Sea Explorer – to provide customers with carrier service comparisons.

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Growth was also recorded in the Asia-Europe trade and in US imports, particularly from Asia.

“In addition, intra-Asian trade lanes grew again last year,” the company stated.

In airfreight, K + N increased its tonnage by 11% to 1.7m tones.

Chief executive Dr Detlef Trefzger said 2018 was a “successful year”.

“Despite the market weakening at the end of the year, we succeeded in increasing our net turnover, gross profit and EBIT once again,” Dr Trefzger said.

“By introducing additional digital platforms, with new highly specialised solutions and targeted acquisitions, we reached important milestones last year and will continue to pursue our journey.

“Even though the growth momentum of the global economy slowed down at the end of 2018, we confirm our goals for the year ahead. In 2019, we aim at growing twice as fast as the market and improving our results further, complemented with selected acquisitions to our portfolio.”

In contract logistics, the company was said to have been strengthened two acquisitions for China’s automotive industry and also expanded its e-commerce offering in Indonesia.

Board chairman Dr Jörg Wolle said the company had expanded its position as a global logistics provider. “In this context, the board of directors is looking with confidence to the 2019 financial year and ahead,” Dr Wolle said.

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