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Asia-Europe ocean rates in rapid retreat as market settles into new normal As the shock of diversions around southern Africa wears off and weekly schedules mostly return to normal, the spot rates that peaked in mid-January are falling fast. Asia-Europe ocean rates in rapid retreat as market settles into new normal International Freight

DHL drops pursuit of DB Schenker amid questions over value ‘upside’ DHL’s decision leaves Denmark’s DSV as the only remaining obvious potential bidder for DB Schenker after Kuehne+Nagel confirmed last week it would not pursue an acquisition. DHL drops pursuit of DB Schenker amid questions over value ‘upside’ International Freight

TPM24: Industry veteran sees little value in ocean carriers integrating logistics services Otto Schacht, who’s worked for Hapag-Lloyd and Kuehne+Nagel, said forwarders will remain vital to the industry thanks to a high degree of customer service. TPM24: Industry veteran sees little value in ocean carriers integrating logistics services International Freight

Wincanton drops CEVA bid to accept huge cash offer from GXO The offer made by CEVA in January appeared to be a done deal, but GXO’s competing bid delivered a 26% premium on the CEVA offer and was swiftly accepted by Wincanton’s board. Wincanton drops CEVA bid to accept huge cash offer from GXO International […]

K+N buoyed by ‘robust’ 2023 result, late Q4 market recovery The market upswing that began in November has continued through February, with the forwarder expecting further growth this year, especially in ocean freight. K+N buoyed by ‘robust’ 2023 result, late Q4 market recovery International Freight

CMA CGM closes billion Bolloré deal, but faces bidding war for Wincanton The carrier’s acquisition spree has brought one of France’s largest transport and logistics companies into the group, but its bid to acquire UK forwarder Wincanton is being challenged. CMA CGM closes billion Bolloré deal, but faces bidding war for Wincanton International Freight

PayCargo targets invoice automation with Rippey AI acquisition PayCargo has taken a majority ownership stake in process automation company Rippey AI to better connect invoicing to payment transactions. PayCargo targets invoice automation with Rippey AI acquisition International Freight

Flexport resurrects Convoy truckload tech as tool for drivers, brokers Increased driver adoption of apps in the truckload industry was driven in part by now-shuttered broker Convoy, whose technology was relaunched Thursday by forwarder Flexport. Flexport resurrects Convoy truckload tech as tool for drivers, brokers International Freight

India-Europe trade hit hard by longer transits amid Red Sea diversions Carriers are dealing with a significant backlog of cargo that has built up because of longer transit times, cutting down available space for exports and raising rate levels. India-Europe trade hit hard by longer transits amid Red Sea diversions International Freight

Logistics’ complicated structure requires equally complex approach to AI usage ChatGPT and generative AI have captured most of the attention around artificial intelligence in logistics, but the diverse range of processes underpinning global supply chains require multiple types of AI working in concert. Logistics’ complicated structure requires equally complex approach to AI usage International Freight