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.
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
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.