Page 21 - Logistics Services News Today

State Logistics Operator CEO Arsen Zhumadilov, revealed plans to eliminate corruption in the procurement of food for the military in an exclusive interview with Radio NV.

Operator: Greetings, and welcome to the Harte Hanks Third Quarter 2023 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

Matson, Inc. (NYSE: MATX) announced today that Joel Wine, Executive Vice President and Chief Financial Officer, will present an overview of the Company and respond to questions at the Stephens 2023 Annual Investment Conference to be held on November 14, 2023 in Nashville, Tennessee.

Saudi Minister of Transport and Logistics Services Eng. Saleh bin Nasser Al-Jasser said the transportation and logistics services sector in the Kingdom is undergoing significant global and regional changes. Eng. Al-Jasser said these transformations are driven by technology, accelerated digitalization, and the utilization of big data and artificial intelligence.

As part of a cost-cutting drive, the company now intends to lay off 10,000 of its employees worldwide.

Shipping group A.P. Moller-Maersk said that it now expects full-year operating profit at the lower end of its range.

Maersk unveiled a stark downturn in profit and revenue, resulting in a decision to cut 10,000 jobs as a response to the ongoing challenges.

The announcement was made as Copenhagen-based Maersk presented its quarterly report, which listed profits before taxes at USD 691 million, down from USD 9.1 billion for the same period last year. The report cited "challenging market conditions resulting in substantially lower freight rates compared to the abnormally high rates in 2022."

Maersk, the world's biggest shipping company, said on Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environm

Shares in Danish shipping giant Maersk dropped by 17% on November 3 after its Q3 report was published, a huge decline from the Q3 in 2022.