The Halcyon Tankers division of Hargreaves Logistics has been sold for an undisclosed sum to a team of former Hargreaves directors. The team includes Andrew Spence-Wolrich, former Hargreaves Logistics MD. The deal sees Halcyon MD Ian Elliott, Spence-Wolrich and Nigel Barraclough, who was MD of Hargreaves Services between 2011 and 2015, become owners of the haulage company, which specialises in transporting petroleum and bulk chemicals across the UK from its base in Port Clarence, Middlesbrough. Elliott will continue as MD […]
Shares in road transport businesses continue to trade at record highs for the calendar year, despite a relatively quiet August and an oh-so-slight dip in the value of the MT basket of shares.
Last week the MT Tracker took a break as it was judging the MT Awards – but what a difference a week makes. Rentokil finally sold City Link, to investment house Better Capital. This does make a big difference to the MT Tracker as Rentokil’s size, in comparison to every other listed transport firm, was distorting the results of the Tracker. Excluding Rentokil gives us a much truer picture of investor sentiment in the sector.
The success story of the first half of the year, without doubt, is UK Mail. It simply, absolutely, will not stop, moving parcels with volumes up 25% in the first quarter year-on-year. If you had bought a share in the firm in January, it would have set you back 365p (giving the firm a market capitalisation of £199m). If you would buy one today it is 580p (giving UK Mail a market cap of £319m). That’s a share price rise […]