Mike King, Special Correspondent | Jan 27, 2012 9:56AM EST
Pantos Logistics expects to grow volume 10 percent this year and gradually emerge as one of the world’s top 10 logistics providers, despite an expected slowdown in global economic growth.
The third-party logistics company last year handled more than 1.6 million 20-foot equivalent units and 330,000 metric tons of air cargo, said CEO Bae Jae-Hoon. The majority of the air cargo was shipped through the South Korea-based company’s two logistics centers at Incheon Airport, the world’s fourth largest by cargo volume.
"We aim to increase our sea and air freight volume by 10 percent by obtaining global customers as well as exploring new business potential in the Mid-East, Africa and Central and South American market,” he said.
Pantos plans to become one of the world’s top 10 logistics firms by growing its network to 200 destinations and revenue past the $11 billion mark in the years ahead. Jae-Hoon said growth will from expanding the company’s warehouse and distribution footprint to enable door-to-door services worldwide. Pantos also sees express and heavy goods transport as additional areas of growth potential.
Jae-Hoon predicted further consolation among shipping lines this year and even lower freight rates, which would create opportunities for cost efficient forwarders such as Pantos. He said air freight volumes in the Asia Pacific would remain under pressure for much of 2012.
“Even though the decline in the economy continues, we have a positive attitude,” he said.
“The biggest problem in the logistics industry is the future of China,” he added. “China has acted as a global supply chain manager for the past 10 years and if it tumbles, the volume of exports into western countries will also be affected.”
-- Contact Mike King at michael@borderline.eu.com
