News / CH Robinson continues consolidation plans with $226m APC Logistics buy in Australia

first_img CH Robinson has stuck to its pledge to grow via acquisition, having agreed to buy Australia’s APC Logistics for A$300m ($226m).APC is Australia’s largest independent forwarder, with a 10% market share, and has been CH Robinson’s agent since 2000 on US-Australasian business.The Melbourne-headquartered company earned revenues of some $251m in the past fiscal year, and has seven offices in Australia and two in New Zealand.The acquisition is expected to be accretive in 2016 and 2017 and will be financed through cash and funds drawn from an existing revolving credit facility. After the deal closes, CH Robinson will integrate APC into its global forwarding division, and single global technology platform, Navisphere. It hopes to gain new volumes from Europe and Asia into Australia, and expects to win new e-commerce business with the deal.“APC Logistics is a high quality company with a proven track record of success,” said Mike Short, president of CH Robinson’s global forwarding division.“Combining their expertise and strong customer and carrier relationships with CH Robinson’s service offerings and network will create more robust capabilities for our customers and add scale to our business.”The US forwarder has had its eye on acquisition targets, hoping to boost its global network. As it released its first quarter results in April, chief executive John Wiehoff said it was “aggressively” looking at M&A opportunities – and at expanding through agents.“While we’re proud of our global footprint … we also acknowledge that it’s a significant growth opportunity for us to expand.“We have plans to open offices in Europe and Asia that will expand our geographic footprint. There are other parts of the world, where we don’t have a presence and work through agents, that we think we can continue to grow, as well as optimising.”CH Robinson’s most recent acquisition was online trucking marketplace Freightquote.com, which it bought for $365m.The forwarder has said that it will only consider companies which are a good cultural fit. CFO Andrew Clarke said in April: “The areas in which we look to continue to invest in are where we think combining companies and cultures makes sense – global forwarding, Europe and managed services all present interesting opportunities.“The filters we use to evaluate deals are pretty rigorous and, as a result, we end up passing on a pretty high percentage.”CH Robinson reported $3.3bn in gross revenues in the second quarter, missing estimates by about $130m. By Alex Lennane 01/09/2016last_img read more

News / IMO slammed for lack of transparency and ingenuous policy-making

first_img By Alexander Whiteman 04/04/2018 Transparency International (TI) has slammed the International Maritime Organisation (IMO) over a lack of transparency.A report by TI found that while administrative activities were “easily accessible”, other areas were less candid.In particular, it cites delegate accountability and voting practices, as well as financing and information linked to internal nominations and elections.“A lack of transparency in two areas shields delegates from public scrutiny, firstly with IMO reports not normally reflecting positions taken by individual representatives,” it adds.“Secondly, journalists are forbidden from naming speakers in open plenary sessions of the assembly without first gaining their consent.”It also notes the IMO’s policymaking process was “open to abuse”, with larger states having greater sway over the voting process, and the lack of regulation over the way governments appoint delegates allowed private companies to take the lead.“For example, Brazil appointed five ‘advisors’ from Vale SA, a multinational company with substantial shipping interests, to its national delegation,” the report says.“There’s no requirement for delegates to publicly declare conflicts of interest, thus the IMO and public is unaware the full extent which private interests are representing governments.”It lists nine areas the IMO needs to address to improve transparency, including engaging in open dialogue with its external stakeholders. In addition, it suggests policies to improve the decision-making process, including requirements for delegates to be members of domestic civil services.“A guiding UN principle is that member states must represent citizens’ interests when they meet to discuss transnational public interest and promotion of global public goods,” it says.“Appointment of companies to represent and determine government position on behalf of national delegations leads to partial privatisation of intergovernmental policy-making in shipping.”You can read the report here. The IMO’s London headquarterslast_img read more

Distributor for cosmetic CO2 therapy in Middle East

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

Ceres-Negros hopes to defeat Kaya-Iloilo anew today

first_img“Playing against a team that has fluidmovement in attack and an addition of a player that has pace and qualityfinishing, it will really be a test on our end defensively,” Kaya-Iloilo mentorNoel Marcaida said./PN The Ilonggos, meanwhile, aim todiminish its deficit against the Busmen. MANILA – Ceres-Negros FC aims to keepits dominance over regional rival Kaya Futbol Club-Iloilo when they clash inthe 2019 Philippines Football League today at the Aboitiz Pitch in Lipa,Batangas. It was the 14th consecutive win forthe Negros Occidental-based football club putting them in a great position toclaim a third consecutive crown and another AFC Asian Cup stint. The defending champion hopes to keepits hold of the solo edge in the standings. The Ilonggos, on the other hand, werealso in a hot streak and will be the fresher team heading into the game. Itslast match was on Sept. 7 yet —a 5-1 victory over Global-Makati FC.center_img The Busmen were fresh from a 7-0 winover the Philippine Air Force FC on Saturday where Robert Lopez-Mendy firedfour goals while Bienvenido Marañon, Jose Elmer Porteria, Mike Ott, and DennisVillanueva added a conversion each. Just like in their previous matches, a heated exchange is once again expected between regional rivals Ceres-Negros FC and Kaya Futbol Club-Iloilo this afternoon, Sept. 18, 2019. PFL PHOTO The match starts at 4 p.m. During their first encounter at thePFF National Training Center in Carmona, Cavite, Marañon came up withback-to-back goals for a 2-1 victory over Kaya-Iloilo, while in their secondmeeting in Lipa, the Busmen edged Kaya 1-0 on Porteria’s hit.last_img read more

Prep Softball Results/Baseball, Softball Schedule

first_img 360p Prep SoftballSection 8-3-A PlayoffsAlexandria 9, Apollo 0Thief River Falls, 10, Sartell-St. Stephen 4Sauk Rapids-Rice 5, Fergus Falls 4Today’s Schedule Visit Advertiser website GO TO PAGE Skip About Connatix V56892 1080p HD 1/1center_img Prep Baseball:Becker at TechSauk Rapids-Rice at Big LakeApollo at MonticelloWillmar at RocoriThief River Falls at Sartell-St. StephenAlbany at AlexandriaWadena-Deer Creek at CathedralLPGE at FoleyPrep Softball:Tech at STMAMonticello at RocoriAlbany at Perham 720p HD About Connatix V56892 Auto (360p)last_img read more