The Power 25: How long can the good times last?

EARLY RISERS For this year’s Power 25, the positive trends outweighed the bad. Last year, we at Air Cargo World predicted DSV, following its completed absorption of UTi, would be a fast riser – and rise it did, leaping up seven spots on the Power 25 list, from No. 16 to No. 9. Now that […]

Executives to Watch: Andersen eager to reap rewards of DSV/UTi merger

Jens Bjørn Andersen When large companies go through a merger, months can seem like years, even when there are no major bumps in the road. When Air Cargo World recently spoke with Jens Bjørn Andersen, CEO of Denmark-based forwarder DSV, the weariness and relief were evident in his voice as he described the long but […]

DSV reports Q3 volume, net revenue rise in wake of UTi deal

About nine months after Danish freight forwarder DSV closed on the purchase of U.S.-based UTi Worldwide, the rewards are beginning to be noticed in the financial figures, as DSV report significant growth in both volume and net revenue for the third quarter. According to DSV, overall freight volumes rose by 84.5 percent, compared to the […]

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, […]

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 […]

For DSV’s Jens Bjørn Andersen, the second time’s the charm

If the dismal second half of 2015 made it seem like a year of missed opportunities for the airfreight world, 2016 may end up being remembered as the year of second chances. Already we have seen the revival of the courtship of TNT by FedEx after the romance with UPS fizzled. Now we have the […]

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 […]

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 […]

Kerry Logistics boosts IT in Malaysia

In yet another example of the strong demand for logistics services in Southeast Asia, Kerry Logistics has opened its first IT development center in Penang, Malaysia, to support the company’s rapidly growing international operations. Hong Kong-based Kerry Logistics said it plans to use the new center as an offshore support center to share resources among […]

UTi opens hubs in Malaysia, Vietnam

U.S.-based freight forwarder UTi Worldwide established new multimodal hubs in Kuala Lumpur and Ho Chi Minh City to consolidate shipments from for short-haul air and road-feeder services. From these new hubs, UTi is rolling out three new long-haul routes for cargo movements to European and American gateways. The reason for the new hubs, UTi said, […]

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 […]

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 […]

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 […]
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