Unique Logistics International Inc (UNQL)

[StockDetective]

Is a huge contract with Nike in the works?

“Data from Panjiva, a trade intelligence business within S&P Global Market Intelligence, shows that Vietnam accounts for 49% of all U.S. ocean imports by Nike.”

"Our teams are leveraging their experience in our operational playbook and taking actions to try to mitigate these impacts. They're doing things like maximizing our footwear production capacity in other countries, shifting apparel production out of Vietnam to other countries like Indonesia and China and others where viable, strategically leveraging airfreight," Friend said. "And then, we're continuing to employ a seasonless approach to the product to serve incredibly strong consumer demand, given our success that we've had selling at full price, even if the product reaches the market later than we expected.”

“Demand for airfreight out of Vietnam "is off the charts," Marc Schlossberg, executive vice president of air cargo and sales for Unique Logistics International, said last month.”

https://finance.yahoo.com/news/supply-chain-woes-drag-down-201653652.html

“Nike, for example, has contracted for a large quantity of freighters to make up time after authorities in Vietnam shut apparel and footwear factories, or forced them to operate at minimum levels, to contain COVID outbreaks, according to the company and air cargo professionals. Peloton is also making heavy use of airfreight this year after experiencing manufacturing problems.”

“We’re chartering like mad,” said Marc Schlossberg, executive director for air cargo at New York-based Unique Logistics (OTC: UNQL). The third-party logistics provider, which recently filed to be listed on the Nasdaq exchange, has scheduled more than 100 new flights in the next 60 days from India, Bangladesh and Vietnam to support customer demand. The contracts for dedicated carriage, arranged through brokers or directly with cargo airlines, give forwarders guaranteed space and direct control on routes and schedules compared to booking shared aircraft space.”

“Retailers, among others, have recognized that the global ocean freight supply chain is broken and they cannot rely on any estimated times of arrival, so they are converting massive volumes to air freight for the holiday shopping season, and likely beyond, as there is no sign that the ocean congestion is improving,” Schlossberg said in an email.”

https://www.freightwaves.com/news/superhot-airfreight-market-leaves-shippers-in-the-cold/amp?__twitter_impression=

"To build on the momentum of our business growth and with our financial management team strengthened under the leadership of CFO, Eli Kay, appointed earlier this year, we have reached agreement to extend the deadline on our purchase of logistics assets in the Asia-Pacific region," said Sunandan Ray, Chief Executive Officer of Unique. "These acquisitions are strategically important to our long-term business plan. We believe that these acquisitions solidify our position in critical Asian markets. We intend to complete these acquisitions and continue to negotiate on the options we have secured for additional acquisitions in Vietnam and South China under the Securities Purchase Agreement, dated May 29, 2020, entered into with Unique Logistics Holdings Limited, a Hong Kong company."

https://www.prnewswire.com/news-releases/unique-logistics-international-announces-agreement-for-extension-to-purchase-asia-pacific-logistics-assets-301319551.html