FREIGHT FORWARDING MARKET ANALYSIS

Key Developments

• In June 2023, Kuehne+Nagel, a global logistics firm, finalized an agreement to acquire Morgan Cargo, a prominent freight forwarder based in South Africa, the U.K., and Kenya, specializing in the transportation and handling of perishable goods. This acquisition bolsters Kuehne+Nagel's perishables logistics services, while also improving connectivity for customers to and from the aforementioned regions, including access to advanced cold chain facilities.
• In April 2023, DHL Global Forwarding entered into a memorandum of understanding with Turkish Cargo to expand its operations to SMARTIST, a cargo facility located at Istanbul airport. This partnership enhanced the operational efficiency for DHL Global Forwarding and contributed to Istanbul's positioning as a key global logistics hub.