News / Cost-saving still key for UTi Worldwide as declining volumes impact turnover in Q2

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US freight logistics provider UTi Worldwide is continuing to target further cost savings in its business after yesterday reporting second-quarter results which showed a drop in turnover.

The firm said air and ocean freight volumes had fallen.

The company’s executive management said it had deliberately shed some low-margin air freight forwarding accounts and had suffered modal shift, as shippers decided to transfer volumes to sea freight, while ocean freight volumes were also down due to “slowing business in certain regions”.

UTi executive VP ...