Kerry’s Profits Storm Ahead as China-U.S. Tariff Clouds Gather — Panjiva


Kerry’s Profits Storm Ahead as China-U.S. Tariff Clouds Gather

China 1762 Corp - Forwarders 157 Mode - Seaborne 1275 U.S. 3310

Freight forwarder Kerry Logistics followed the sector in reporting lower profitability in the first half of 2018 with operating margins that fell to 7.0% from 7.4% a year earlier. Yet, total profits climbed by 22% which the management of the firm attributed to higher Transpacific volumes ahead of new duties being applied by the U.S. and China. Shipments from China to the U.S. by sea by Kerry’s Apex operation rose 8% in 2Q vs. a total rise of 13%. That would suggest the forwarder also competed aggressively for market share elsewhere. Once duties do widen, including tariffs on a further $...

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