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KUEHNE & NAGEL INTER

Kuehne + Nagel is a global transportation and logistics company based in Switzerland and founded in 1890. KN is the largest sea freight forwarder globally, and holds the number-two spot in air freight. Sea freight has traditionally constituted the largest part of the business, contributing almost half of group revenue in 2022. The company's goal is to become a more balanced, fully integrated freight forwarder while continually improving its end-to-end offering to its clients.

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Escalating disruptions in the Red Sea by Yemen-based Houthi rebels has caused a significant shift in global trade patterns, with half the container-ship fleet rerouting to avoid the area, increasing operational costs and consumer prices.

Trade Turmoil: Houthi Attacks In Red Sea Ignite Rerouting Crisis, Drive Surging Shipping Stocks

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Million-plus containers set to ride railway linking Western Europe to Eastern China via Russia now have to find new routes by sea, adding to costs and threatening to worsen the global supply chain chaos, 

China-Europe Rail Lines, The Latest Supply-Chain Issue: Bloomberg

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The escalating disruptions in the Red Sea, caused by attacks led by Yemen-based Houthi rebels targeting ships, have triggered a significant shift <a href="https://www.benzinga.com/topic/geopolitics">in global trade patterns.</a>
Industry data from Flexport Inc., unveiled in a <a href="https://www.bloomberg.com/news/articles/2023-12-28/red-sea-attacks-latest-half-of-container-ship-fleet-avoids-route?srnd=premium&amp;sref=TBDibEcD">Bloomberg</a> story on Thursday, reveals a startling development: around half of the container-ship fleet that typically passes through the Red Sea and Suez Canal is rerouting to avoid the area. 
This shift, involving approximately 300 vessels capable of carrying 4.3 million containers, represents about 18% of global shipping capacity.
<h2 class="wp-block-heading">The Rerouting Challenge</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="700" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map-1024x700.jpg" alt="" class="wp-image-170763" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map-1024x700.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map-300x205.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map-768x525.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map-1536x1050.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28152726/Suez-Map.jpg 1580w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="https://www.mapchart.net/">MapChart</a>
Rerouting around Africa adds approximately 25% more travel time compared to the usual Suez Canal route, connecting Asia and Europe. 
This not only increases operational costs for shippers but is also likely to inflate consumer prices for a wide range of products, including everyday items like clothing, food, and oil.
The Houthi, originating from Yemen, have justified their attacks as a stance against Israel, which is currently involved in a war against Hamas. 
However, their targets are not limited to vessels with direct Israeli connections, posing a broader threat to international trade. In response, a U.S.-led task force is stepping up efforts to enhance security along this crucial maritime corridor.
The data from Flexport aligns with findings from Kuehne &amp; Nagel International AG (OTCPK: KHNGY), another freight-forwarding giant. Their data, as of Wednesday, showed 364 vessels, with a capacity of 5 million TEUs, rerouting around Africa &#8211; a notable increase from 314 vessels recorded on Dec. 22. Over the past month alone, shares of Kuehne &amp; Nagel International AG have risen by 20%, reaching the highest level since October 2021. 
Clarksons Research highlights the impact of these diversions: a 40% decrease in Gulf of Aden arrivals and a 45% reduction in the Suez Canal southbound transits between Dec. 22 and 26.
<h2 class="wp-block-heading">Market Reactions: Maritime Shipping Stocks Rocket </h2>
Shares of the Danish business conglomerate&nbsp;A.P. Moeller-Maersk A/S (OTCPK: AMKBY), the world&#8217;s second-biggest container line, have risen by nearly 20% over the past two weeks. 
Another industry giant, the German Hapag-Lloyd Aktien (OTCPK: HLAGF) saw a remarkable 40% boost in its share price during the same time frame. 
The Honolulu-based Matson Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MATX#NYSE">MATX</a>) witnessed an 11% rally, similar to the one seen by Global Ship Lease Inc. New (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>). 
The SonicShares Global Shipping ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOAT#NYSE">BOAT</a>), which tracks stocks from companies operating in the global maritime shipping industry, has soared by 10%.
Chart Courtesy of TradingView: Houthi Attacks Fueled Shipping Companies&#8217; Stocks 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924-1024x495.png" alt="" class="wp-image-170664" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28123241/BOAT_2023-12-28_17-32-22_c2924.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read now: <a href="https://www.benzinga.com/government/23/12/36328651/end-of-year-rally-for-oil-as-red-sea-tensions-drive-up-shipping-costs">End-Of-Year Rally For Oil As Red Sea Tensions Drive Up Shipping Costs</a>
Photo: Shutterstock

Million-plus containers set to ride railway linking Western Europe to Eastern China via Russia now have to find new routes by sea, adding to costs and threatening to worsen the global supply chain chaos,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-23/china-europe-rail-routes-become-supply-chain-s-latest-problem?srnd=premium&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Bloomberg</a>.
Amid Russia-Ukraine chaos, exporters and logistics firms transporting auto parts, cars, laptops, and smartphones are trying to avoid land routes passing through Russia or the combat zone.&nbsp;
What happened:&nbsp;With mounting security risks and payment hurdles arising from sanctions, there are chances that customers in Europe could boycott products that used Russian rail. The conflict adds to congestion at some of the biggest ports, putting additional pressure on global supply chains that are still reeling from pandemic-induced workforce shortages.&nbsp;
Kuehne + Nagel International AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/khngy#OTC">KHNGY</a>), one of Europe&rsquo;s largest freight forwarders, is already rejecting rail cargo from China to Europe, mentioned Marcus Balzereit, a senior vice president for the Asia Pacific at the company.&nbsp;
Balzereit states a combination of sea-air solutions could help some automakers and high-tech electronics manufacturers prevent production disruptions despite a surge in costs.&nbsp;
Um Kyung-a, a transportation analyst at Shinyoung Securities Co. in Seoul, notes, &ldquo;At times like these, it&rsquo;s more important for companies to get their goods delivered even if the cost of transport is higher. It&rsquo;s more important for them to keep their production going.&rdquo;
The official Securities Times wrote, starting March, the export volume on trains heading to Europe from the port of Dalian has been &ldquo;greatly reduced,&rdquo;
Why It&rsquo;s Important:&nbsp;According to logistics firms, it takes about two weeks to send Asian goods to Europe via rail compared with a month by ship. Ships are still the cheapest method. The cost of transporting a container by rail is roughly twice that of sea freight, and a quarter of sending goods by air, according to logistics provider DSV, Bloomberg notes.
Few companies that use the rail networks,&nbsp;Dell Technologies Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dell#NYSE">DELL</a>) to IKEA and&nbsp;Toyota Motor Corp.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>), have already paused their operations or sales in Russia.
&ldquo;Getting vessel capacity and getting shipping on time to destination has already been a challenge in the past six months. This is just one more thing that&rsquo;s being added to an already fragile network,&rdquo; mentions Glenn Koepke, a general manager at FourKites Inc.

Swiss transport and logistics giant Kuehne + Nagel International AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/khngy#OTC">KHNGY</a>) said Monday that it closed on the sale of most of its U.K. contract logistics business to U.S.-based provider XPO Logistics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NASDAQ">XPO</a>), nearly 10 months after the deal was announced.

The transaction, which was consummated after the approval of British antitrust authorities, calls for Kuehne + Nagel to divest itself of logistics operations that supported its food and beverage, retail and technology businesses. Revenue from the divested operations totaled about $656.4 million in 2019, Kuehne + Nagel said at the time the deal was disclosed last March.

The sale, financial terms of which were not disclosed, closes the books on Kuehne + Nagel's plans that began two years ago to shed non-core contract logistics services. Kuehne + Nagel has already sold its contract logistics business in Argentina, its cool chain fast moving consumer goods portfolio in France and a grouping of real estate assets.

Kuehne + Nagel said it remains committed to e-commerce and pharmaceutical contract logistics services in the U.K. and worldwide.

Though the U.K. business never performed optimally for Kuehne + Nagel, the verticals that XPO has acquired are well within its wheelhouse. It is believed that XPO will get far more mileage out of the assets than did Kuehne + Nagel. XPO said last March that it planned to integrate Kuehne + Nagel's business onto its technology platform under its pan-European network.

XPO announced in late 2020 plans to separate its North American and European businesses and spin off the European unit into a separate company. The initiative is expected to be completed by the end of 2021.

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Kuehne + Nagel Closes Sale Of UK Assets To XPO

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Stocks That Hit 52-Week Highs On Tuesday

The containership industry may finally end a lost decade of investment returns as demand accelerates and ocean carriers keep a lid on supply, according to one market expert.
Bill Rooney, vice president of strategic development at <a href="http://www.barchart.com/stocks/quotes/KNIN.Z.IX">Kuehne &amp; Nagel/ADR </a>(OTC: <a class="ticker" href="https://www.benzinga.com/stock/khngy#OTC">KHNGY</a>), shared that view at 18th annual Port Industry day sponsored by the Port of New York-New Jersey. He says ocean shippers have, in effect, been subsidized by government support of unprofitable shipping companies. But shippers may soon face a reckoning on rates as the support ends and carriers demand higher returns.
Rooney, who was with Hanjin Shipping prior to its 2016 bankruptcy, says the containership industry has been in a state of oversupply since the financial crisis of 2008. With the exception of 2010, operating profit margins have averaged between 3 and 4 percent over that period.
But the benchmark is an operating margin of 10 percent, which is closer to the industry&#39;s capital cost, Rooney says. The spread between what liner operators earned and what it cost them to deploy ships accrued to the customers who received a service at a rate below what it cost to provide, he added.
Over the last decade, shippers benefitted from &quot;at least $10 billion in rates that are lower than they would be if owners of these assets pushed for and attained rates closer to their cost of capital,&quot; Rooney said.
He says that getting closer to a 10 percent rate of return would containership rates &quot;are going to be a lot higher.&quot;
&quot;It&#39;s going to be a significant change in rate levels,&quot; Rooney said. &quot;If they are more successful like in trans-Pacific where spot rates doubled, that&#39;s what could happen elsewhere if carriers dig their heels in and insist on a rate of return closer to 10 percent.&quot;
Trans-Pacific rates last reached $2,298 per twenty foot equivalent unit (teu), according to the Freightos index, available on <a href="https://www.freightwaves.com/sonar/" target="_blank">SONAR</a> under ticker FBX.CNAW.
&nbsp;
<a href="https://static1.squarespace.com/static/5899e78b1b10e35238fba886/t/5baaad32652dea0abd826099/1537912171574/Screen+Shot+2018-09-25+at+5.47.18+PM.PNG?format=1000w"><img alt=" Trans-Pacific rates to the U.S. West Coast have risen amid tight vessel supply and good demand. " class="thumb-image" src="https://static1.squarespace.com/static/5899e78b1b10e35238fba886/t/5baaad32652dea0abd826099/1537912171574/Screen+Shot+2018-09-25+at+5.47.18+PM.PNG?format=1000w" /></a>
Trans-Pacific rates to the U.S. West Coast have risen amid tight vessel supply and good demand.
<a href="https://www.freightwaves.com/sonar/"><img alt="SONAR_panelad.png" class="thumb-image" src="https://static1.squarespace.com/static/5899e78b1b10e35238fba886/t/5baaa71424a69467b8419e80/1532627017887/SONAR_panelad.png?format=1000w" /> </a>
Ocean carriers appear more discipline this year in adding capacity. Container analytics firm PR News Service says the Asia-to-U.S. West Coast trade lane, the busiest in the world, saw total containership capacity grow less than 1 percent through September, with capacity actually dropping in the third quarter.
Starting in August, ocean carriers cut back the number of port calls, as well as use smaller ships in some trades &quot;in an effort to curb the upward capacity trend,&quot; said PR News Service executive director Paul Richardson. He says it&#39;s the first time he remembers that capacity has actually fallen in what is usually peak seasonal demand.
&quot;The container lines usually have added capacity through the third quarter,&quot; Richardson said. &quot;It certainly has not gone the other way.&quot;
<a href="https://static1.squarespace.com/static/5899e78b1b10e35238fba886/t/5baaaf139140b7701afa42dc/1537912613212/Screen+Shot+2018-09-25+at+5.55.56+PM.PNG?format=1000w"><img alt="" class="thumb-image" src="https://static1.squarespace.com/static/5899e78b1b10e35238fba886/t/5baaaf139140b7701afa42dc/1537912613212/Screen+Shot+2018-09-25+at+5.55.56+PM.PNG?format=1000w" /></a>
Along with capacity cuts, rates are firmer amid a stronger global economy and demand for imported goods. Maritime researcher Alphaliner estimates the global container trade will rise 4.7 percent this year with another 4.4 percent gain expected in 2019.
The demand growth will meet slowing supply growth with fewer new ships being delivered into world fleets. Net of ship demolitions and new ship deliveries, the world containership fleet is expected to grow 3 percent in 2019 and 2020, according to brokerage Banchero Costa.
There appears to be less appetite for ordering new ships. <a href="http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=CSE3201&amp;name=A.P.%20M%C3%B8ller%20-%20M%C3%A6rsk%20B&amp;ISIN=DK0010244508">Maersk&#39;s</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/amkby#OTC">AMKBY</a>) chief executive Soren Skou said on the company&#39;s last earnings conference call that the company will not &quot;order any new ships for the next minimum 12 months, and we would keep our capacity constant with a downward trajectory short term.&quot;
The industry was largely able to absorb the low rates thanks to government support for shipping lines, particularly in Asia where shipping supports export-related industries. But Rooney says the example of Hanjin Shipping dissolving after losing the support of the Korean government may embolden governments to rethink support of other money losing lines.
&quot;It wasn&#39;t that long ago we had 20 choices for ocean carriers, now we have eight,&quot; Rooney said. &quot;If Taiwan gets tired of losing $500 million per year by being the controlling party around Yang Ming or if Korea gets tired of supporting Hyundai Merchant Marine, then there could be less.&quot;
&quot;I think we are close to a tipping point,&quot; Rooney said. &quot;I think we are getting to a point where it is evident that many companies are tired of only making 3 to 4 percent on assets that cost 10 percent.&quot;

Global

Customers To Pay Up As Container Lines Seek Better Returns, Warns Shipping Expert

Kuehne &amp; Nagel International AG (OTC: KHNGY) posted flat earnings for 2011.

Kuehne &amp; Nagel posted earnings at 601 million Swiss francs ($658 million), versus CHF601 million for 2010. Its revenue declined 3.3% to CHF19.59 billion, versus CHF20.26 billion in 2010.

Kuehne &amp; Nagel shares closed at $26.60 on Friday.

Earnings

Kuehne & Nagel Posts Flat Earnings For 2011

Barclays analyst Marco Limite maintained a Hold rating on Kuehne + Nagel International AG (KNIN – Research Report) today and set a price target of ...

Barclays Remains a Hold on Kuehne + Nagel International AG (KNIN)

UBS analyst Sebastian Vogel maintained a Hold rating on Kuehne + Nagel International AG (KNIN – Research Report) today and set a price target of CH...

UBS Remains a Hold on Kuehne + Nagel International AG (KNIN)

Barclays lowered the firm's price target on Kuehne & Nagel to CHF 230 from CHF 250 and keeps an Equal Weight rating on the shares. Published first ...

Kuehne & Nagel price target lowered to CHF 230 from CHF 250 at Barclays

Morgan Stanley raised the firm's price target on Kuehne & Nagel to CHF 262 from CHF 261 and keeps an Underweight rating on the shares. Published fi...

Kuehne & Nagel price target raised to CHF 262 from CHF 261 at Morgan Stanley

Warning: KHNGY is at high risk of performing badly

JPMorgan analyst Alexia Dogani lowered the firm's price target on Kuehne & Nagel to CHF 210 from CHF 220 and keeps an Underweight rating on the sha...

Kuehne & Nagel price target lowered to CHF 210 from CHF 220 at JPMorgan

Deutsche Bank lowered the firm's price target on Kuehne & Nagel to CHF 260 from CHF 315 and keeps a Buy rating on the shares. Published first on Th...

Kuehne & Nagel price target lowered to CHF 260 from CHF 315 at Deutsche Bank

Citi lowered the firm's price target on Kuehne & Nagel to CHF 188 from CHF 205 and keeps a Sell rating on the shares. Published first on TheFly – the

Kuehne & Nagel price target lowered to CHF 188 from CHF 205 at Citi

In a report released on November 14, Marc Zeck from Kepler Capital maintained a Hold rating on Kuehne + Nagel International AG (KNIN – Research Rep...

Kepler Capital  Keeps Their Hold Rating on Kuehne + Nagel International AG (KNIN)

UBS analyst Sebastian Vogel maintained a Hold rating on Kuehne + Nagel International AG (KNIN – Research Report) on November 14 and set a price tar...

Kuehne + Nagel International AG (KNIN) Receives a Hold from UBS

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