Mike King, Special Correspondent | Aug 01, 2012 8:47AM EDT
Panalpina expects further growth on its intra-Asia and Asia-Latin America trades by air and sea in the coming months.
The Swiss forwarding giant saw profit tumble in the second quarter. Full container load volumes on the company’s intra-Asia services outperformed all other ocean lanes, however, racking up year-on-year growth of 35 percent in the first six months of this year. “Intra Asia is now among our top three trade lanes in ocean freight,” said a spokesman.
Panalpina’s FCL Asia-Latin America trade also flourished in the first half of the year, up approximately 25 percent eastbound and 20 percent westbound compared to a year earlier.
The trade also saw growth in air freight, despite the bearish state of global air cargo markets. Panalpina’s Asia-Latin America westbound volumes surged more than 50 percent year-on-year in the first half of 2012.
“Asia to Latin America eastbound volumes decreased but this trade lane did particularly well in terms of profitability,” the spokesman said.
Contact Mike King at michael@borderline.eu.com.
