DSV’s Q3 earnings, volume growth up with UTi integration

Danish freight-forwarder DSV is continuing to reap the benefits of last year’s acquisition of U.S.-based 3PL UTi Worldwide, as the integration of its operations with DSV’s pushed up the company’s earnings before income and taxes (EBIT) for the third quarter by 34.4 percent, year-over-year. Airfreight tonnage also rose 11.7 percent over the same time period. […]
  • Caryn Livingston
  • October 26, 2017

Today is last chance to vote for Air Cargo World’s Executive of the Year Award

Have you made your voice heard? Today, Oct. 25, will be your last chance to choose which of our finalists should be named  Air Cargo World‘s Air Cargo Executive of the Year. The winner of the annual honor, celebrating the highest achievement in the air cargo industry, will be profiled on the cover of the […]
  • Randy Woods
  • October 25, 2017

DSV begins operating Primark’s new Netherlands logistics center

Transport and logistics company DSV has started operating Primark’s new Netherlands logistics center. The 65,000-square-meter warehouse, located in Roosendaal, runs on Primark’s Warehouse Management System, and processes carton and garment on hanger (GOH) outbound orders to supply Primark stores throughout France and Italy. “This go-live is an important step,” said Peter van der Maas, managing […]
  • Lewis King
  • January 23, 2017

Power 25: Three to watch for next year

APEX logistics Founded in 2003, privately-held, China-based APEX Logistics fell just short of making the Power 25 list this year – its 188,000 annual tonnes of airfreight places it at No. 26 on the list – but the young company plans to make a larger dent in the market in 2016. Michael Piza, senior vice president, […]
  • Randy Woods
  • May 26, 2016

DSV’s UTi acquisition boosts airfreight, but drags on profit

Although DSV’s acquisition of UTi has yet to pay significant dividends, as net profit dropped 45.4 percent year-over-year, to US$49 million for the first quarter of 2016, the company’s airfreight operations reported significant growth. Airfreight volumes for DSV soared 71 percent to 122,817 tonnes during the same period. Much of the airfreight volume growth (66 […]
  • Charles Kauffman
  • May 12, 2016

Turkish Cargo sets sights on North America

Cargo, American-style Turkish first dipped its toe into North American waters in the 1990s, first by operating charter flights to the continent. “This enabled us to observe the market before the start of our scheduled flights,” Anlatan said. “Therefore, we did not face any problems when we got into the North American markets,” he added. […]
  • Randy Woods
  • February 29, 2016

DSV’s 2015 ended on a high note

According to CEO Jens Bjørn Andersen 2015 was a good year for DSV, one of the first major logistics companies to report financial data for the full year. Andersen said DSV gained market share across all business segments, delivering strong growth in earnings and cash flow. Net revenue of US$7.7 billion was up 4.7 percent […]
  • Staff Reports
  • February 15, 2016

DSV and UTi – a done deal

On its second attempt to buy U.S.-based UTi Worldwide, Danish transport company DSV has been successful. The last hurdle was South African antitrust approval, which was obtained this week. Jens Bjørn Andersen, CEO of DSV welcomed UTi employees into the fold. The commercial activities of the company will move forward under the DSV brand. The […]
  • Staff Reports
  • January 22, 2016

DHL agrees to $53 million settlement in class action

A scheme to inflate and maintain freight forwarding surcharges that began shortly after the 9/11 terrorist attacks, and continued until January 2011, has led DHL Global Forwarding (DHLGF, the forwarding arm of Deutsche Post-DHL) to agree to pay a US$53 million settlement in a class action lawsuit that was filed in 2008. If approved, the […]
  • Staff Reports
  • January 5, 2016

Next generation of DSV forwarders hits the books

With an eye toward strengthening not only its future but also that of the entire industry, freight forwarder DSV recruited 18 young students (pictured) from all over the world to work at the company as “junior freight forwarders,” receiving on-the-job training for the next two years. Chosen from the U.K,, Ireland, Spain, Belgium, Norway and […]
  • Staff Reports
  • December 17, 2015

DSV’s offer for UTI: Too much or too little?

For the second time in the last 12 months, Danish logistics group, DSV, has made a bid to acquire U.S.-based UTi Worldwide. This time, the offer was accepted, for US$1.35 billion, or $7.10 per share, representing a 50 percent premium to UTi’s closing trading price on Oct. 8. At first, the immediate reaction was surprise […]
  • Staff Reports
  • November 9, 2015

Denmark’s DSV continues growth in 2015

Danish freight forwarder DSV enjoyed a robust third quarter, with operating profit before special items of US$126 million, up from $107.5 million during the same period last year. For the nine-month period ending Sept. 30, the rising forwarder saw a 17 percent increase in operating profit, year-over-year, to just short of $340 million. Net revenue […]
  • Staff Reports
  • November 2, 2015

DSV bid for UTi undervalued, says Sterling

Earlier this month, Danish logistics company DSV made an offer – its second in 12 months – to purchase U.S.-based UTi, which was agreed upon by both boards of directors, but not yet by shareholders. This week, financial analysts and many UTi investors are questioning whether UTi was undervalued. The offer of US$1.35 billion, or […]
  • Staff Reports
  • October 22, 2015

DSV acquisition of UTi looks like a go for 2016

  If at first you don’t succeed… For the second time in the last 12 months, Danish logistics group, DSV, has made a bid to to acquire U.S.-based UTi Worldwide. This time, the offer was accepted, for US$1.35 billion, or $7.10 cash per each UTi share, representing a 50 percent premium relative to UTi’s closing […]
  • Staff Reports
  • October 9, 2015
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