Skip to content
Search AI Powered

Latest Stories

JD Logistics plans to acquire Chinese trucking company Deppon Logistics Co.

$1.4 billion deal would expand LTL and truckload capabilities for logistics arm of Chinese e-commerce giant JD.com.

Deppon trucks Screen Shot 2022-03-14 at 5.01.23 PM.png

Chinese supply chain and logistics service provider JD Logistics plans to acquire Deppon Logistics Co. Ltd. for $1.4 billion, in a move to grow its capabilities in less-than-truckload (LTL) and full truck load (FTL) transportation, delivery services, and warehousing management, the company said Sunday.

Pending approval of various closing conditions, JD Logistics will buy 99.99% of the equity interest in Ningbo Meishan Baoshui Area Deppon Investment Holding Company Limited, which in turn holds a total of approximately 66.50% of the issued share capital of Deppon. In addition, JD Logistics will make a general offer for all tradable shares of Deppon, a company of 120,000 employees which is listed on the Shanghai Stock Exchange.


JD Logistics is a unit of JD.com, China’s largest online retailer and a technology vendor that offers brands access to its vast infrastructure through a “retail as a service” model. The division operates over 1,300 warehouses, which cover an aggregate gross floor area of over 258 million square feet.

Both the logistics division and its e-commerce parent have large resources. For the 2021 fiscal year ending December 31, JD Logistics had net revenue of $16.4 billion for an operating loss of $286.7 million. That contributed to its parent company JD.com’s fiscal 2021 results of $149.3 billion in net revenue and $649.8 million in operating income.

The Latest

More Stories

U.S. shoppers embrace second-hand shopping

U.S. shoppers embrace second-hand shopping

Nearly one-third of American consumers have increased their secondhand purchases in the past year, revealing a jump in “recommerce” according to a buyer survey from ShipStation, a provider of web-based shipping and order fulfillment solutions.

The number comes from a survey of 500 U.S. consumers showing that nearly one in four (23%) Americans lack confidence in making purchases over $200 in the next six months. Due to economic uncertainty, savvy shoppers are looking for ways to save money without sacrificing quality or style, the research found.

Keep ReadingShow less

Featured

CMA CGM offers awards for top startups

CMA CGM offers awards for top startups

Some of the the most promising startup firms in maritime transport, logistics, and media will soon be named in an international competition launched today by maritime freight carrier CMA CGM.

Entrepreneurs worldwide in those three sectors have until October 15 to apply via CMA CGM’s ZEBOX website. Winners will receive funding, media exposure through CMA Media, tailored support, and collaboration opportunities with the CMA CGM Group on strategic projects.

Keep ReadingShow less
xeneta air-freight.jpeg

Air cargo carriers enjoy 24% rise in average spot rates

The global air cargo market’s hot summer of double-digit demand growth continued in August with average spot rates showing their largest year-on-year jump with a 24% increase, according to the latest weekly analysis by Xeneta.

Xeneta cited two reasons to explain the increase. First, Global average air cargo spot rates reached $2.68 per kg in August due to continuing supply and demand imbalance. That came as August's global cargo supply grew at its slowest ratio in 2024 to-date at 2% year-on-year, while global cargo demand continued its double-digit growth, rising +11%.

Keep ReadingShow less
littler Screenshot 2024-09-04 at 2.59.02 PM.png

Congressional gridlock and election outcomes complicate search for labor

Worker shortages remain a persistent challenge for U.S. employers, even as labor force participation for prime-age workers continues to increase, according to an industry report from labor law firm Littler Mendelson P.C.

The report cites data showing that there are approximately 1.7 million workers missing from the post-pandemic workforce and that 38% of small firms are unable to fill open positions. At the same time, the “skills gap” in the workforce is accelerating as automation and AI create significant shifts in how work is performed.

Keep ReadingShow less
stax PR_13August2024-NEW.jpg

Toyota picks vendor to control smokestack emissions from its ro-ro ships

Stax Engineering, the venture-backed startup that provides smokestack emissions reduction services for maritime ships, will service all vessels from Toyota Motor North America Inc. visiting the Toyota Berth at the Port of Long Beach, according to a new five-year deal announced today.

Beginning in 2025 to coincide with new California Air Resources Board (CARB) standards, STAX will become the first and only emissions control provider to service roll-on/roll-off (ro-ros) vessels in the state of California, the company said.

Keep ReadingShow less