Latest news with #logistics
RNZ News
6 hours ago
- Business
- RNZ News
Mainfreight full year net profit up nearly a third on previous year to $274.3 million
Mainfreight's net profit for the 12 months ended March was $274.3 million. Photo: Supplied Transport heavyweight Mainfreight full year net profit is up by nearly a third on the year earlier, with the Australian business the largest generator of revenue and profits. "We felt in certain parts of the business we could have been better," Mainfreight managing director Don Braid said, noting the underlying profit was slightly down on the year earlier by 3 percent. Key numbers for the 12 months ended March compared with a year ago: Braid said the outlook for the current year was uncertain, though the pause in the imposition of United States tariffs had seen an increase in bookings and volumes, along with an increase in sea freight costs. He said space availability was becoming tight with American businesses rushing to get products into warehouses and retail shelves. While that was seeing revenue rise, he said the outlook was uncertain. "It's all very well to have a small surge in volumes, but that is not of that much interest. What we're interested in is long term certainty, so that we have a steady trade," Braid said, adding that the uncertainty was affecting all global markets. He said the near-term focus for Mainfreight was to look after its customers. "The beauty of being in 27 different countries is that if the trade lanes change, if companies begin to think of of other countries other than the USA, then from an international shipping perspective we're able to assist their customers. "But at the same time it's business as usual across supply chains in the five regions we're in and we're working hard to win market share and provide an improving performance." Sales revenue increased in all five regions Mainfreight operated and its across transport, warehousing and air and ocean divisions. However, Asia, the Americas and New Zealand saw profits decline. Braid said economic uncertainty continued to affect the New Zealand market. "I think at the small end of town, whilst we might have seen an increase in dairy and the kiwifruit harvest was pretty healthy ... at the other end of the spectrum, I think people are still seeing it as a tough environment. "We're lucky enough to have won more market share then we've lost and we continue to build the business." Mainfreight was continuing to invest in new facilities in preparation for when the New Zealand economy began to improve, he said. "However, the likelihood of slower economic growth, coupled with the considerable investments made in the past year, particularly in New Zealand, will result in a more cautionary approach to property development and capital expenditure." However, he said there had been a small improvement in domestic freight movements over the past couple of weeks. "How that looks as we get into the rest of the year, we're uncertain and I think that's our biggest problem is that we just don't have any certainty about how the economy will perform over the next six to 12 months." Mainfreight would also pay staff bonuses of $30.5m to be shared with team members in branches who had contributed satisfactory profits in Australia, Asia and Europe regions. "Unfortunately, this year's performance will result in our people in New Zealand and the Americas regions foregoing bonuses as a consequence of contributing less profit than the year prior," Braid said. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Arab News
8 hours ago
- Business
- Arab News
Riyadh hosts warehousing, logistics expo
RIYADH: Rumaih Al-Rumaih, Saudi Arabia's vice minister of transport and logistic services, inaugurated the second Saudi Warehousing and Logistics Expo at the Riyadh International Convention and Exhibition Center. Al-Rumaih said that the Kingdom is experiencing a leap in the logistics sector, driven by an ambitious vision and strong leadership support to enhance its position as a global logistics hub. He said that the expo came at a pivotal time, helping it keep pace with this critical phase of industrial and logistics development, the Saudi Press Agency reported on Wednesday. The exhibition featured more than 40 speakers from leading government entities. Sessions highlighted the role of artificial intelligence in developing supply chains, focusing on automation, fleet management, and modern logistics services. The three-day expo, from May 27-29, is a leading platform bringing together public and private sector entities in the industry under one roof. It offers an ideal opportunity to explore the latest solutions, including handling and storage equipment, automated systems, robotics, packaging, control and weighing systems, and security.
Zawya
9 hours ago
- Business
- Zawya
GulfNav's Brooge acquisition to boost income, slash costs
Dubai-based shipping firm Gulf Navigation Holding (GulfNav) expects an increase in come and lower costs following its acquisition of Brooge Energy. GulfNav's CEO Ahmed Al-Kilani said the merger would lead to the establishment of an integrated logistics company specialising in the transportation and storage of fuel, petroleum products, and petrochemicals. Kilani told CNBC Arabia satellite news TV that the GulfNav, which is specialised in the transportation of petroleum and petrochemical products, has recently overcome difficult condition due to weak liquidity and operational challenges. He noted that the company is now in a stable stage and preparing for a new phase of growth, adding that the Company's Board had two options-- either proceed with gradual expansion by strengthening operations and increasing the marine fleet, which would require a long time, or move towards a faster path through acquisition or merger, which was achieved through this deal with Brooge Energy. He said GulfNav possesses significant assets, including storage tanks for crude oil, petroleum products, and petrochemicals in the Port of Fujairah, which is a global strategic location for storage. He pointed out that these tanks rely on advanced technologies that enable effective operational integration between the two companies. 'This step will open new horizons in global markets and contribute to increasing revenues and reducing expenses due to the integration of services and assets.' Kilani said there are promising opportunities for expanding the operations of both Gulf Navigation and Brooge Energy, expecting Brooge to expand outside the UAE, amidst global moves towards clean energy. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
14 hours ago
- Business
- Zawya
Four Winds showcases its specialized logistics solutions at the Saudi Warehousing & Logistics Expo 2025
Al Mani: "We reaffirm our commitment to enhancing the efficiency of transportation, shipping, and warehousing services in the Kingdom and achieving Vision 2030 goals." Riyadh, Saudi Arabia: Four Winds Saudi Arabia Limited, a leader in comprehensive and integrated moving and logistics services since 1979, has reiterated its commitment to enhancing the efficiency of logistics and shipping services in the Kingdom and contributing to the realization of Vision 2030. This comes as the company showcases its cutting-edge logistics solutions at the Saudi Warehousing & Logistics Expo 2025, held in Riyadh from May 27–29, 2025. As Saudi Arabia solidifies its status as a global logistics hub, this event offers a platform for industry professionals to explore strategies that boost efficiency, expand networks, and improve operations—especially as the sector is expected to handle 1.7 billion tons of cargo by 2030. Nizar Al Mani, CEO of Four Winds Saudi Arabia Limited, said: 'The Saudi Warehousing & Logistics Expo is the largest commercial event in Saudi Arabia focused on warehousing, supply chains, and logistics—and the largest of its kind in the region. It presents an ideal opportunity for Four Winds to spotlight the leading logistics services and solutions we offer, which are designed to enhance the efficiency of transportation and shipping services across the Kingdom, and contribute to Vision 2030.' Al Mani added: 'Four Winds boasts an extensive international shipping network and offers fully integrated freight solutions. With long-standing expertise in supply chain management, we provide end-to-end support for our clients—from planning to final delivery—while upholding the highest international standards and regulatory compliance. We also offer flexible, integrated warehousing solutions, leveraging modern technologies to ensure quality and safety. Our strategically located warehouses facilitate easy access and cater to diverse industry needs.' Integrated and Flexible Warehousing Solutions Four Winds offers versatile warehousing solutions for a wide range of cargo, including industrial equipment. Its facilities are equipped with advanced technologies to ensure the safety and quality of goods at all times. The company emphasizes its flexible storage options, including short- and long-term storage with customizable space based on client needs. Smart and Secure Operations To ensure optimal safety and quality, Four Winds employs modern technologies, including advanced temperature and humidity control systems, continuous monitoring systems, and stringent security measures to prevent damage or theft. Its smart warehouse management systems feature sophisticated tracking technologies that guarantee accuracy in inventory management and operations. Strategic Warehouse Locations and Industry-Specific Services The company operates strategically located warehouses across Saudi Arabia to ensure swift access to local and regional markets. It also supports supply chains through facilities near ports, airports, and border crossings. Four Winds offers sector-specific warehousing services tailored for healthcare, retail, industrial products, and more—including temperature-controlled storage for sensitive materials and pharmaceutical-grade cold storage solutions. Quality and Compliance Standards All Four Winds warehouses are fully licensed and adhere to the highest standards of quality and regulatory compliance. The company follows stringent procedures to ensure alignment with local and international health and environmental regulations. Four Winds is a proud member of prestigious global organizations such as IATA and FIATA, underscoring its commitment to professional excellence. Global Partnerships and Integrated Freight Services The company has a robust global partner network and has recently joined the JCtrans global network and the Mipharma network for healthcare supply chains. These affiliations enable Four Winds to offer reliable, integrated international freight services—including sea, air, and land freight solutions. Its custom shipping options include cold chain logistics, hazardous materials transport, and heavy cargo handling, ensuring clients' diverse needs are met with precision. Comprehensive Logistics Support Four Winds delivers comprehensive services—from planning and coordination to customs clearance and final delivery. The company operates 24/7 support teams to ensure secure and timely delivery of shipments. Its end-to-end services encompass warehousing, distribution, and freight insurance—offering clients peace of mind and confidence at every stage. Established in 1979, Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services, has become a cornerstone in the moving and logistics sector, offering comprehensive and integrated services. With over four decades of expertise, the company has earned a distinguished reputation as one of the most trusted providers in the Kingdom of Saudi Arabia and Bahrain. Its partnerships and robust relations with leading international organizations—including IATA, FIATA, IAM, and FIDI—underscores its dedication to quality and customer satisfaction. About Four Winds Saudi Arabia Limited: Established in 1979, Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services, has become a cornerstone in the moving and logistics sector, offering comprehensive and integrated services. With over four decades of expertise, the company has earned a distinguished reputation as one of the most trusted providers in the Kingdom of Saudi Arabia and Bahrain. Its partnerships and robust relations with leading international organizations—including IATA, FIATA, IAM, and FIDI—underscores its dedication to quality and customer satisfaction.
Associated Press
14 hours ago
- Business
- Associated Press
RXO to Present at the Wells Fargo 2025 Industrials and Materials Conference
CHARLOTTE, N.C.--(BUSINESS WIRE)--May 28, 2025-- RXO (NYSE: RXO) today announced that Drew Wilkerson, chief executive officer, and Jared Weisfeld, chief strategy officer, will present at the Wells Fargo 2025 Industrials and Materials Conference in Chicago, Ill., on June 11, 2025, from 4-4:35 p.m. EDT. The live webcast and a replay of the presentation will be available at About RXO RXO (NYSE: RXO) is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation, freight forwarding and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The company is headquartered in Charlotte, N.C. Visit for more information and connect with RXO on Facebook, X, LinkedIn, Instagram and YouTube. View source version on CONTACT: Media Contact Nina Reinhardt [email protected] Contact Kevin Sterling [email protected] KEYWORD: ILLINOIS NORTH CAROLINA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TRUCKING TECHNOLOGY LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT OTHER TECHNOLOGY SOFTWARE OTHER TRANSPORT SOURCE: RXO Copyright Business Wire 2025. PUB: 05/28/2025 09:58 AM/DISC: 05/28/2025 09:57 AM
