Vertical consolidation Archives - The Loadstar Making sense of the supply chain Tue, 05 Nov 2024 07:13:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 Only just underway: Dkr11k Mærsk’s confidence rebuild https://theloadstar.com/only-just-underway-dkr11k-maersks-confidence-rebuild/ https://theloadstar.com/only-just-underway-dkr11k-maersks-confidence-rebuild/#respond Fri, 01 Nov 2024 12:27:29 +0000 https://theloadstar.com/?p=283962 It was a more convincing Mærsk CEO yesterday, Halloween, trying to address a virtual room full of analysts during the customary Q3 24 call – 14 beautiful minds joined – that followed the release of quarterly operating figures adding little to what was already disclosed last week.
However 
The man pulling the strings, Vincent Clerc, neatly explained all the moving parts, what works and what doesn’t: why this is “a quarter we ...

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]]> https://theloadstar.com/only-just-underway-dkr11k-maersks-confidence-rebuild/feed/ 0 283962 Forward Air – does it take a Ceva to know a Ceva? https://theloadstar.com/forward-air-does-it-take-a-ceva-to-know-a-ceva/ https://theloadstar.com/forward-air-does-it-take-a-ceva-to-know-a-ceva/#respond Tue, 15 Oct 2024 11:33:39 +0000 https://theloadstar.com/?p=282665 The earnings season, starting with JB Hunt after the US stock market close today, will soon reveal the true financial health of a sick patient in freight management and supply chain: Forward Air.
Where, incidentally, the ex-Ceva crew is slowly growing just as the noise surrounding a change of ownership intensifies.
Divestment 
Forward Air’s Q3 24 numbers – expected to be released towards the end of the month – should be accompanied by ...

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]]> https://theloadstar.com/forward-air-does-it-take-a-ceva-to-know-a-ceva/feed/ 0 282665 GXO Logistics takeover talk – scent of box line interest https://theloadstar.com/gxo-logistics-takeover-talk-scent-of-box-line-interest/ https://theloadstar.com/gxo-logistics-takeover-talk-scent-of-box-line-interest/#respond Fri, 11 Oct 2024 11:25:51 +0000 https://theloadstar.com/?p=282460 The shares of GXO Logistics shot up yesterday on the stock market as reports did the rounds that a sale of the world’s largest, listed, pure-play contract-logistics (CL) firm could be on the cards.
That wasn’t part of our recent M&A landscape coverage that focused on deal-making in forwarding, when we wrote ‘Nothing chunky to buy, lots to break up‘. But we wondered earlier this year what the future may hold ...

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]]> https://theloadstar.com/gxo-logistics-takeover-talk-scent-of-box-line-interest/feed/ 0 282460 Lidl box carrier Tailwind adds another vessel to its expanding fleet https://theloadstar.com/lidl-box-carrier-tailwind-adds-another-vessel-to-its-expanding-fleet/ https://theloadstar.com/lidl-box-carrier-tailwind-adds-another-vessel-to-its-expanding-fleet/#respond Wed, 04 Sep 2024 11:38:43 +0000 https://theloadstar.com/?p=279578 German supermarket chain Lidl’s in-house container carrier, Tailwind Shipping, this week welcomed its latest newbuild, the 1,400 teu Panda 004, to its rapidly expanding fleet.
The vessel was named in the Dutch port of Moerdijk on Monday and has been deployed on the carrier’s Dolphin Express (DEX) service, a shuttle string between Barcelona and Moerdijk, joining sister vessel Panda 003.
Barcelona acts as Tailwind’s chief European hub – the end port of ...

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]]> https://theloadstar.com/lidl-box-carrier-tailwind-adds-another-vessel-to-its-expanding-fleet/feed/ 0 279578 Analysis: DP World – hooked on a feeling https://theloadstar.com/analysis-dp-world-hooked-on-a-feeling/ https://theloadstar.com/analysis-dp-world-hooked-on-a-feeling/#respond Fri, 16 Aug 2024 11:40:53 +0000 https://theloadstar.com/?p=278609 When we (gratefully) got wind of the imminent departure of Jesper Kristensen and other key staff from the DP World family a couple of days ahead of the official announcement last month, the guessing game in our marketplace started.
It revolved around trying to figure out how much pressure the Dubai-based integrator felt on margins in the first half of the year (H1 24).
And based on interim figures disclosed yesterday, 15 ...

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]]> https://theloadstar.com/analysis-dp-world-hooked-on-a-feeling/feed/ 0 278609 Mid-year M&A snapshot: contract logistics in the driving seat https://theloadstar.com/mid-year-ma-snapshot-contract-logistics-in-the-driving-seat/ https://theloadstar.com/mid-year-ma-snapshot-contract-logistics-in-the-driving-seat/#respond Fri, 19 Jul 2024 10:58:16 +0000 https://theloadstar.com/?p=276836 Following stable demand during 2023, the contract logistics sector is expected to increase by over 4% globally in 2024 in real terms. This growth extends to Europe (0.2% to 1.0%) and North America (1.6% to 3.8%), according to Transport Intelligence (Ti) projections.
Besides the resiliency of demand and visibility provided by multi-year contracts, several other factors are fueling M&A activity including (i) 3PL’s ongoing push to offer differentiated end-to-end capabilities; (ii) ...

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]]> https://theloadstar.com/mid-year-ma-snapshot-contract-logistics-in-the-driving-seat/feed/ 0 276836 Analysis: DP World in a tight M&A spot https://theloadstar.com/analysis-dp-world-in-a-tight-ma-spot/ https://theloadstar.com/analysis-dp-world-in-a-tight-ma-spot/#respond Thu, 11 Jul 2024 10:57:58 +0000 https://theloadstar.com/?p=276265 Unprompted, mulling over DP World’s (DPW) outstanding bonds today…
… and looking for enticing risk-adjusted returns* at the front end of DPW’s yield curve, I didn’t spot anything particularly compelling. Although, if it gets seriously deflationary out there, ‘4.848% September 2028′ maturities aren’t too bad a catch, I mused, also given a corporate debt profile where bank debt maturing in three-and-a-half years’ time…
(*Acutely aware that, according to recent JP Morgan research, ...

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]]> https://theloadstar.com/analysis-dp-world-in-a-tight-ma-spot/feed/ 0 276265 Analysis: The flip side of Ceva’s ‘new vertical structure’ https://theloadstar.com/analysis-the-flip-side-of-cevas-new-vertical-structure/ https://theloadstar.com/analysis-the-flip-side-of-cevas-new-vertical-structure/#respond Thu, 04 Jul 2024 11:59:58 +0000 https://theloadstar.com/?p=275790 ‘Buy the rumour, sell the news’ is an old adage in the financial markets.
Pity Ceva Logistics is no longer listed, although it enjoyed a spell on the stock market for just over a year from the spring of 2018, before being taken over by CMA CGM…
… which – romance added to the narrative – acted as a white knight soon after DSV made a very opportunistic offer at a +60.4% ...

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]]> https://theloadstar.com/analysis-the-flip-side-of-cevas-new-vertical-structure/feed/ 0 275790 Rumours build: the axe is swinging at Ceva Logistics https://theloadstar.com/rumours-build-the-axe-is-swinging-at-ceva-logistics/ https://theloadstar.com/rumours-build-the-axe-is-swinging-at-ceva-logistics/#respond Fri, 21 Jun 2024 10:36:58 +0000 https://theloadstar.com/?p=274825 Leaks, leaks, leaks.
Gotta love them at times.
Even more so when Ceva Logistics is involved because it has become really serious for its owner, CMA CGM, to protect what they are up to these days; how they communicate with the market, often spinning their own story; and giving away very little to outsiders.
Privately owned, entitled but strategically relevant enough in our industry to be very disappointing for us when Rodolphe Saadé ...

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]]> https://theloadstar.com/rumours-build-the-axe-is-swinging-at-ceva-logistics/feed/ 0 274825 Mærsk CEO Clerc by the book – ‘to each their own’ https://theloadstar.com/maersk-ceo-clerc-by-the-book-to-each-their-own/ https://theloadstar.com/maersk-ceo-clerc-by-the-book-to-each-their-own/#respond Thu, 20 Jun 2024 10:25:43 +0000 https://theloadstar.com/?p=274718 It was never meant to be easy.
Warmly welcomed at the end of 2022 by the local press as the first-ever foreigner to take over the executive office at Esplanaden in Copenhagen…
… Vincent Clerc was described as a commander-in-chief strongly focused on (emphasis in bold added) “digital operations and for his key involvement in transforming the organisation from carrier to logistics group“.
Before the new AP Møller-Mærsk (APMM) CEO announcement, ominous signs ...

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]]> https://theloadstar.com/maersk-ceo-clerc-by-the-book-to-each-their-own/feed/ 0 274718