Kerry Logistics added 2 more directors...

 Kerry Logistics has appointed two more directors namely Mathieu Renard Biron & Patrick Chea in its team. 

Mathieu Renard Biron as Managing director based out of Hongkong & Bangkok will be responsible for strategic development of group international freight forwarding division on both strategic & operational level. In earlier roles he has worked with several logistics, freight forwarding & manufacturing corporations since 1991 & last served as Geodis group regional vice president for Asia Pacific.

Patrick Chea as Executive director based out of Singapore will be responsible for developing air freight product , trade lanes & service capabilities. Earlier to this role Cheah was working with UTi & Damco as head of air freight for Asia.

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Damco sees $9m loss as airfreight dives

Damco, the troubled logistics arm of Danish shipping giant AP Moller-Maersk (APMM), made a $9m loss in the first quarter of 2015 as its airfreight volumes fell 19%.
The division's total supply chain revenue fell nine percent, year on year, to $683m for the January to March 2015 period, of which eight percent was due to exchange rate movements.
Netherlands-based Damco saw controlled ocean freight volumes decline by two percent, as airfreight throughputs dived, with the latter due mainly to "project shipments in prior year which were not repeated in 2015," said APMM.
It added: "Restoring growth in the ocean and airfreight segments is a key focus area to improve overall Damco profitability."
The $9m first quarter loss was actually an improvement on like period 2014, when Damco made a loss of $10m.

Source : http://www.aircargonews.net/news/forwarders/single-view/news/damco-sees-9m-loss-as-airfreight-dives.html

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Losses mount at dampened Damco

Damco, the global logistics arm of Danish shipping group AP Moller Maersk, more than doubled its annual losses to $293m for the full year 2014.
The ocean giant parent said that Damco's losses were due to “significant” impairment hits  in 2014 and “reduced profitability” in its ocean and airfreight segments.
Netherlands- headquartered Damco, which recorded an $111m loss in 2013, saw air freight volumes nosedive by 16 per cent in 2014 over prior year. Ocean freight also fell, by six per cent.
Margins in both airfreight and ocean were "under pressure and declined through 2014".
Restructuring at Damco will see the subsidiary back to “profitable growth” in 2015, said AP Moller Maersk.

Source :  http://www.aircargonews.net/news/single-view/news/dampened-damcos-losses-mount.html

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