CEVA expands LCL service offerings with new lanes from Houston

Oceanfreight focus drives growth of LCL offerings

(PresseBox) ( Amsterdam, the Netherlands, )
CEVA Logistics, one of the world's leading supply chain companies, has announced the opening of two new lanes as part of its Less-than-Container Load (LCL) Ocean offering. The new lanes from Houston, U.S. to both Singapore and Jebal Ali, United Arab Emirates, contribute to CEVA's strategy to increase its share of own consolidated boxes over the use of co-loaded lanes.

The Houston to Singapore lane includes direct service loading in Houston with cargo also being consolidated from Dallas and New Orleans to ensure sufficient economies of scale. Sailing from Los Angeles, with a transit time of approximately 40 days, the service delivers tangible benefit to companies who will now have direct access to over 100 trans-shipment destinations throughout Southeast Asia and the Indian sub-continent, managed by CEVA in Singapore. The first Houston to Singapore sailing will take place on 24 February, 2012.

The first sailing from Houston to Jebel Ali took place on 7 February, 2012, with cargo consolidated from Los Angeles, San Francisco, Dallas and New Orleans, and a transit time of approximately 34 days. This service reduces unnecessary additional handling in comparison with sending via New York while reducing the dwell time between cargo receipt and sailing.

Greg Scott, CEVA's Global LCL Director said: "As we continue to expand our LCL services we are reinforcing CEVA's position as a true end-to-end logistics provider, connecting strategic locations through our global network and gateways. We are able to consolidate volumes and direct load, providing customers with the guaranteed high levels of service they have come to expect from CEVA. These two new lanes within our Oceanfreight portfolio are of particular interest to Energy companies as they link key geographies for that sector through our integrated network, while decreasing cargo handling."

Safe harbor statement:

This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2011 and the other non-historical statements. These statements can be identified by the use of words such as "believes" "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company's global operations, fluctuations and increases in fuel prices, the Company's substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's annual and quarterly reports, available on the Company's website, which investors are strongly encouraged to review. Should one or more of these risks or uncertainties materialize or the consequences of such a development worsen, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
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