CEVA launches weekly direct LCL service from Singapore to New York
CEVA Logistics, one of the worlds leading supply chain companies, has announced the launch of a new we...
CEVA Logistics, one of the world’s leading supply chain companies, has announced the launch of a new weekly LCL (Less-than-Container Load) service from Singapore to New York. This is the first guaranteed weekly service direct to the U.S. from Singapore as part of the company’s initiative to enhance its LCL offerings serving Trans-pacific needs.
The weekly direct sailing service will take approximately 23 days from port to port, providing customers with predictability and better control of their cargo movement. CEVA will ensure track and trace visibility of all cargo shipments from origin to destination. The service is also complemented by consolidation services from Penang to Singapore before moving the load to New York.
CEVA’s Lynnda Loo, Head of Ocean Freight for Singapore and Malaysia said: “We are excited to roll out a weekly LCL service from Singapore to New York, in response to customer feedback. Singapore, being strategically located in the region, is a key hub for CEVA’s LCL services, with ongoing weekly services directly to Shanghai, Pusan, Chittagong and other destinations. We will continue to increase the number of destinations for Ocean Freight to provide our customers with greater flexibility and choice.”
Customers will also benefit from the availability of door-to-door trucking service from New York to 51 destinations in the U.S. through CEVA’s integrated supply chain services.
“Once the container arrives in New York, we utilize a 100% all-motor truck network to service the 51 destinations up and down the East Coast and U.S. Midwest. We decrease our transits into the Midwest by an average of five days versus a routing over Los Angeles,” said Robert Braun, LCL Director for CEVA in North America.
CEVA recently started a guaranteed weekly LCL service from its newly opened Antwerp gateway in Belgium to New York as well. Recognizing customers’ shipping needs, the company aims to continue developing its LCL consolidation network and plans an additional 40 new direct global services by the end of 2015.
CEVA, one of the world’s leading non-asset based supply chain management companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 42,000 employees in more than 170 countries are dedicated to delivering effective and robust supply chain solutions across a variety of sectors where CEVA applies its operational expertise to provide best-in-class services across its integrated network. For more information, please visit www.cevalogistics.com.
UPS Posts Record Second Quarter with Revenues of $23.4bn
Growth across each of its core segments resulted in record results for UPS in the second quarter, with group revenues climbing 14.5% year on year to $23.4bn.
The global logistics outfit achieved consolidated operating profit of $3.3bn, up 47.3% compared to the same period in 2020. It is the second consecutive quarter of record profit, and a significant rise on Q1’s $2.9bn.
UPS Q2 Revenues in Brief
- Consolidated revenues: $23.4bn (+14.5% yoy)
- Domestic: $14.4bn (+10.2%)
- International: $4.82bn (+30%)
- Supply Chain Solutions: $4.2bn (+14.3%)
The US company’s domestic segment performed steadily with 10.2% revenue growth to $14.4bn. But it was its international and supply chain solutions segments where UPS saw the biggest gains. Strong demand in Europe led an increase in international revenues of 30% to $4.82bn. UPS’ supply chain solutions division saw revenue growth of 14.3% to $4.2bn, driven, the company said, “by strong demand in nearly all businesses”.
UPS’ steady growth throughout the pandemic has been led by the overarching vision of its chief executive Carol Tomé to do “better not bigger”, focussing on efficiency and high margin deliveries through its network over pure scale and volume.
“I want to thank all UPSers for executing our strategy and delivering high service levels, which fuelled record financial results in the second quarter,” she said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”
UPS Completes Sales of UPS Freight
The second quarter also saw UPS complete the divestiture of UPS Freight in a deal worth $800m - with a surprise result for the division, now called TForce Freight, under new owner TFI International.
“The second quarter was historically significant for TFI International, with the closing of our UPS Freight acquisition and record performance across the board,” said Alain Bédard, chairman, President and Chief Executive Officer, TFI International. “Particularly gratifying is the performance of TForce Freight, which has exceeded our operating ratio targets far ahead of schedule, and we have only just begun our work.”
In it first two months of ownership TFI reported that adjusted operating ratio (OR) was 90.1% for TForce Freight, far outperforming its forecasted OR of 96-97%.
“I wish to thank our entire team for their hard work and remarkable efforts, and officially welcome aboard our new TForce Freight colleagues who have seamlessly come under the TFI umbrella and are already making stronger than expected contributions,” Bédard added.