Panalpina boosted its fast-growing less-than-containerload Asia-Europe network with the launch of three services from China and Singapore to Hungary, the Czech Republic and Austria.
Panalpina expects further growth on its intra-Asia and Asia-Latin America trades by air and sea in the coming months.
Panalpina’s second quarter profit tumbled 37.5 percent from a year ago, but the Swiss logistics and freight forwarder boosted its ocean and air freight market shares.
Panalpina, the global freight forwarding and logistics group, has opened four new logistics competence centers around the world, supported by a new supply chain solutions center in Frankfurt.
FedEx CEO Fred Smith said more shippers are transporting goods via ocean shipping at the expense air carriers, a modal shift reflected in the parcel giant’s recent earnings report.
Forwarder Phoenix International could be the latest company to get swept into a recent whirl of merger and acquisition activity, according to a report.
Panalpina has started flying the first of two new Boeing 747-8 freighters with a maiden cargo flight from Hong Kong to Luxembourg.
Panalpina swung to a loss of $64.5 million in the first quarter ended March 30 from a profit of $38.2 million in the same quarter last year.
European antitrust officials on Wednesday fined 13 of the world’s largest logistics companies, including Kuehne + Nagel, Panalpina and UPS, a total of $225 million for fixing international air c
Panalpina and CEVA Logistics have launched new less-than-containerload services, tapping into strong customer demand in fast growing trade lanes in Latin America and the Asia-Pacific region.
Panalpina swung to a profit of $139.7 million in 2011 from a 2010 loss of $28.6 million as the Swiss logistics and forwarding giant enjoyed organic growth across all regions and product divisions.
CEVA Logistics will launch two less-than-containerload services this month from Houston to Singapore and Jebel Ali, the United Arab Emirates, as the logistics provider aims to “link key geograph
Panalpina said its six new direct less-than-container-load services on intra-Asian routes are aimed at tapping growing demand from consumer, high-tech and telecom sectors.
Panalpina said its new logistics center in Moscow will target shippers of high tech, automotive, high-end fashion and telecoms cargoes across Russia.
Kerry Logistics will build a 753,000-square-foot logistics center in Zhengzhou, as the third-party logistics provider expands its reach in north-central China.
Lucas Kuehner | Jan 01, 2012 12:00AM EST
Given the current market, we expect freight volume to remain stagnant with consequently weak rate levels.
Panalpina said its recently opened 32,800-square-foot logistics facility in North China will become the Swiss logistics group's hub in the growing region.
Panalpina will create three regional CEO positions, with one chief position each for the divisions of Europe and the Middle East, the Asia-Pacific and the Americas, as the Swiss logistics group works
Panalpina launched two direct less-than-container load services between Taiwan and South Korea and Poland, as part of the Swiss logistics company’s long-term strategy to grow business on key
Kuehne + Nagel will pay a $9.9 million penalty after pleading guilty to charges in the United States that the global freight forwarder conspired with its competitors to fix air freight rates.