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 […]
  • Cathy Roberson
  • August 12, 2019

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% […]
  • Caryn Livingston
  • July 31, 2019

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% […]
  • Brianne Ledda
  • July 18, 2019

United Cargo, Freightos team up on booking portal 

Today, United Cargo announced that it will be working with WebCargo by Freightos, a freight sales digitization platform, to develop an online booking portal.  The portal – which will support customers’ ability to book online, view prices, and see real-time updates on United’s cargo network – will be the first in a series of digital upgrades that the carrier plans to implement. Further details are yet to be announced.  Digitization has been a […]
  • Brianne Ledda
  • July 16, 2019

Panalpina identifies applications of blockchain technology, begins pilot projects

According to Panalpina, blockchain technology has so far not yet reached its full potential, with almost 90% of all supply chain related projects remaining in the proof-of-concept stage until 2020. The company, which joined the Blockchain in Transport Alliance (BiTA) in May 2018, also said that blockchain tends to suffer from a lack of trust […]
  • Jeff Lee
  • June 11, 2019

Panalpina, DHL GF join growing list of digital freight sales platforms

Two more companies have joined the now not-so-exclusive group of logistics providers offering digital freight sales platforms available in air cargo – today, Panalpina announced it will present its new customer platform at Air Cargo Europe 2019 in Munich this week, while DHL Global Forwarding (DHL GF) launched its own platform last week. While the growing number of these […]
  • Chelsea Toczauer
  • June 3, 2019

Panalpina opens Prague warehouse for auto parts

After agreeing to be purchased by Danish logistics firm DSV earlier this year, Swiss forwarder Panalpina has not slowed down its own growth, in terms of warehouse space or merger and acquisitions (M&A) activity. Last week, Panalpina participated in an opening ceremony for its new 21,000-square-meter, 28-bay warehouse in Prague. Two-thirds of the warehouse capacity […]
  • Randy Woods
  • May 20, 2019

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 […]
  • Randy Woods
  • April 30, 2019

Panalpina persists in perishables with purchase of CargoMaster, Laseair

Swiss forwarding giant Panalpina is seeking to increase its already large market share of the South American perishables logistics market by purchasing CargoMaster S.A. in Colombia, and its Ecuadorian subsidiary, Laseair S.A. The companies reached an agreement on Tuesday of this week, but chose not to disclose the financial details of the acquisition. CargoMaster, with […]
  • Randy Woods
  • April 25, 2019

WebCargo, Air France-KLM bring dynamic pricing to air cargo

In a bid to speed up the process of booking freight and broaden the use of dynamic pricing in the industry, Air France-KLM-Martinair Cargo has partnered with Freightos to use the WebCargo airfreight booking platform, which provides forwarders with live rates and capacity availability updates. After completing pilot projects with forwarder Panalpina last month, using […]
  • Randy Woods
  • April 23, 2019

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 […]
  • Nina Chamlou
  • April 17, 2019

DSV is building its biggest Northern European hub [VIDEO]

Danish forwarding giant DSV said it is building what will be its largest hub in Northern Europe, to serve as a gateway to the rest of Scandinavia. This news follows the inking of a new deal to purchase its Switzerland-based competitor, Panalpina, for US$4.6 billion earlier this month.  The first of four planned facilities, which […]
  • Nina Chamlou
  • April 11, 2019

DSV to purchase Panalpina for US$4.6 billion in blockbuster deal

After weeks of speculation over the future of Panalpina’s ownership, Denmark’s DSV today reached an agreement to purchase its Swiss rival for US$4.6 billion – a merger that will create one of the world’s largest logistics companies, and appears to end the possibility of a merger with the Agility Group The board of directors at […]
  • Nina Chamlou
  • April 1, 2019

Panalpina Singapore, L’Oreal partner to reduce CO2 emissions with biodiesel trucks

Panalpina Singapore is jumping on the eco-conscious band wagon with the launch of a fleet of biodiesel trucks for its client, L’Oreal’s Travel Retail Asia Pacific. The initiative supports L’Oreal’s “Sharing Beauty With All” campaign, in which the cosmetics giant aims to reduce its global environmental footprint by engaging “100 percent” of its strategic suppliers […]
  • Nina Chamlou
  • March 29, 2019
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