Israeli carrier ZIM Integrated Shipping Services has invested $5.5 million in the Series A financing round of Hoopo Systems, a provider of tracking solutions for unpowered assets, along with existing and new investors.

“Hoopo is a leading provider of asset and fleet visibility solutions, working on transforming unpowered assets into connected fleets, thereby helping businesses to easily track and manage their operations, inventory, and equipment more efficiently by providing real-time data and analytics,” according to a statement issued by ZIM.

Originally published at https://www.logupdateafrica.com on August 12, 2022.

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The year-on-year change of container handling for the major North America West Coast ports (Los Angeles/Long Beach, Oakland, Prince Rupert, Vancouver, and Seattle/Tacoma) has been negative in four out of the first six months of 2022 while there was a 4 percent increase in June 2022.

“On an annualised basis, however, the growth rate has largely been under 6 percent since the second half of 2021 although there was a sharp increase to 14.2% in March 2022,” says the latest update from Sea-Intelligence. “In the last few months, however, the annualised growth rate has slightly level-shifted upwards slightly to 4–8 percent although the overall trend in 2022Q2 has been downwards.”

Originally published at https://www.logupdateafrica.com on August 10, 2022.

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Danish carrier Maersk has signed a deal to acquire Martin Bencher Group, a Denmark-based project logistics company for an enterprise value of $61 million.

“Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. Martin Bencher’s core capability is designing end-to-end project logistics solutions for global clients, and the company’s competitive strengths include deep industry expertise, a solid track record, long-term stakeholder relationships as well as a highly skilled organisation,” says a statement from Maersk announcing the deal.

Originally published at https://www.logupdateafrica.com on August 5, 2022.

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Lufthansa Cargo reported an EBIT of €482 million ($492 million) for the second quarter ended June 30, 2022 — an increase of 48 percent compared to Q22021 on higher demand for freight and average yields in the airfreight industry well above the pre-crisis level.

“Exceptionally strong momentum continues due to ongoing capacity shortages, and ~70% of load originates outside of Germany,” says the airline in a presentation post the announcement of the results. For Q22022, traffic revenue increased 45 percent to €1.2 billion ($1.23 billion).

Originally published at https://www.logupdateafrica.com on August 4, 2022.

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Logistics Update Africa

Logistics Update Africa

Logistics Update Africa (LUA) is a bi monthly trade magazine that brings the most credible news, views and stories of and from Africa.