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

DSV’s Q2 figures better than expected

Boosted by strong growth in its air and sea division, Danish freight forwarder DSV posted better-than-expected second-quarter figures. Operating profit, before special items, rose to US$118.7 million in the period from April to June, beating a mean forecast of $112 million, which was based on a Reuters poll of analysts. Net profit for the period […]
  • Staff Reports
  • August 5, 2015

The Power 25 Forwarders of 2015

The larger you are, the harder it is to shove you aside. This basic fact of physics can be seen in The Power 25, Air Cargo World’s list of the top 25 largest freight forwarders in airfreight, based on tonnage last year. Many of the familiar brawny players – DHL Global Forwarding, Kuehne + Nagel, […]
  • Randy Woods
  • June 5, 2015
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