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 […]

Temperature-controlled products heat up air cargo demand

With news of July being the hottest on record, it seemed fitting that we take a look at temperature-controlled air cargo. Indeed, a number of freight forwarders noted in recent earnings reports that temperature-controlled volumes were a bright spot in an otherwise disappointing first half of the year for air cargo. However, while temperature-controlled products […]

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% […]

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 […]

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 […]

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 […]

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 […]

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 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 […]

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 […]
Page 1 of 1012345 » ...Last »