The 2019 Air Cargo Executive of the Year is DSV Panalpina’s Jens Bjorn Andersen

Early in 2019, speculation ran rampant over the future of Panalpina. The Swiss forwarder had faced several difficult quarters, with declines in profit exacerbated by overall market weakness and demand declines in some of the forwarder’s higher-yield verticals. Enter DSV. Unsolicited, Panalpina’s Danish logistics rival submitted a takeover offer to Panalpina’s board, valuing Panalpina at […]

CEVA opens new global headquarters in Marseille

The Swiss forwarder CEVA Logistics opened its new global headquarters in Marseille on Nov. 14. The new location is adjacent to the headquarters of French seafreight firm CMA CGM, which began its corporate governance of CEVA this year. CEVA struggled throughout 2018 and earlier, with declining air export volumes and net losses reported for multiple […]

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 […]

Drone Delivery Canada to deploy drone deliveries for DSV in Ontario

Drone Delivery Canada (DDC), the cargo drone delivery operator marketed by Air Canada Cargo, announced a new agreement with DSV Canada to use DDC’s drone delivery platform at DSV’s new head office and warehouse in Milton, Ontario. Under the deal with DSV, DDC will deploy its DroneSpot takeoff and landing infrastructure on DSV sites, to […]

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 […]

Forwarders’ focus turns to margins in the uncertain global environment

Now that the major freight forwarders have reported their earnings for the first half of 2019, a look at the market finds one of lower airfreight volumes and positive oceanfreight volumes. However, the lesson learned from years past was that volumes do not always equate to profit. Today, the focus is on profits. Simple common […]

DSV grows profit, airfreight volumes during 1H19

Danish forwarder DSV posted revenue and profit growth over the second quarter and first half of 2019, the company said in its interim financial report today. The forwarder also managed to grow its airfreight volumes during the first half, despite challenging global market conditions. DSV’s revenue increased by 3.0% during the second quarter and 5.8% […]

Sluggish demand from high-yield cargo verticals hits Panalpina in 1H19 

Swiss  forwarding giant Panalpina reported airfreight volumes up 5% year-over-year to 512,000 tonnes for the first half of 2019 as recent acquisitions began to boost turnover.   Despite the higher overall volumes for the first half of the year, airfreight gross profit was 5% lower at US$342 million (CHF 337.2 million), which, Panalpina blamed on lower demand from high-yield verticals, such as automotive. As a result, earnings before interest and taxes (EBIT) for airfreight dropped 28% […]

DSV Air & Sea continues global expansion with Pittsburgh location

This week, logistics provider DSV Air & Sea Inc., a subsidiary of Danish logistics provider DSV, announced it will open a branch in Pittsburgh, Pa. The new office will be the company’s 36th Air & Sea location in the United States.  The new branch office will be located adjacent to Pittsburgh international Airport (PIT), where the […]

Marimekko teams up with DSV to tackle e-commerce in China

Danish logistics company DSV announced a new partnership with Marimekko last week, as the Finnish clothing company works to build its e-commerce market in China. Marimekko has had stores in China since 2012, Remco Enders, General Manager in North China, told Air Cargo World, but they want to go directly to consumers now by setting […]

DSV sees Q1 profits rise, expects Panalpina deal to close in Q3

Danish forwarding giant DSV, which announced earlier this month that it was purchasing Swiss rival Panalpina, released its first-quarter results today, reporting a 5% growth in airfreight volumes, compared to the previous Q1, reaching 170,000 tonnes, due mostly to a rise in exports to the Americas during the quarter. Gross profit in the air segment […]

Panalpina Q1 EBIT falls 7.4% for air segment on heels of DSV purchase

Today, Panalpina released its first-quarter results for 2019, following its recent acquisition by its fellow-Swiss rival DSV, in which it delivered double-digit growth in operating profit of 15% to $US28.1 million, year-over-year. However, performance was a bit less eye-popping when breaking down the results segment by segment. Its Air Freight segment saw volumes increase by […]
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