DSV Panalpina establishes US-China freighter route

To support customer demands in the wake of flight cancellations spurred by the novel coronavirus, DSV Panalpina will utilize its Atlas Air-operated 747-8 freighter on service between Huntsville (HSV) and Shanghai (PVG) three times per week. DSV Panalpina estimates the widespread effort to stop the spread of coronavirus has resulted in a daily airfreight capacity […]

Consultant Insight: Forwarders end 3Q uncertain of what 2020 may bring

Declining volumes, profit improvements and a pessimistic outlook for 2020 pretty much sums up the latest earnings reports from major freight forwarders. Earnings reports from Kuehne + Nagel, DSV Panalpina, Expeditors, C.H. Robinson and DHL Global Forwarding and Freight were reviewed and while there was some positive news, overall, there is concern for the freight […]

DSV 3Q revenue up following closing of Panalpina deal, even as airfreight slips volumes  

Danish forwarder DSV, which closed the acquisition of Panalpina on Aug. 19, 2019, reported airfreight tonnage up 63% year-over-year in Q3. Excluding the Panalpina acquisition, organic airfreight growth was down 6%. Even when accounting for the windfall in volumes from the Panalpina acquisition, the company’s Air & Sea forwarding division performed relatively well. Revenue reported […]

DSV sets its sights on major road acquisition 

With the major integration of DSV and Panalpina still underway, DSV Panalpina intends to continue pursuing growth through large mergers and acquisitions, with additions to its Road business likely next on the company’s radar. The news comes following the company’s most recent Board strategy session, hosted several weeks ago.  “Once we’re 12-18 months into the integration of Panalpina, and we […]

Panalpina, DSV merger compels major cuts in former leadership 

Today, Panalpina announced changes in its leadership structure following its merger with DSV. These changes include the elimination of the positions of Chief Commercial Officer, Chief Legal Officer, Chief Information Officer, Executive Vice President, Air Freight and Executive Vice President of Ocean Freight.  The cuts resulted in former CCO Karl Weyeneth, CLO and Corporate Security Christoph Hess, CIO […]

The Power 25: Forwarders to watch through 2019

DSV-Panalpina (future No. 3) – For the rest of this year and into 2020, all eyes in the forwarding world are going to be focused on the new DSV-Panalpina entity, which was decided in early 2019 and will be formalized by the third quarter. In its annual report for 2018, DSV said its earnings before […]