Panalpina Group reported double-digit growth in profit during the first quarter and said it expects air and ocean freight markets to rise 5 to 7 percent this year.
The U.S. government will not tolerate bribes in the international transportation industry, attorneys and officials told customs brokers and forwarders Thursday.
Panalpina boosted 2010 net revenue 20 percent from the previous year to $7.7 billion, driven by double digit growth in ocean container and air freight traffic.
Panalpina acquired Norway's Greig Logistics to broaden its coverage of the North Sea oil and gas sector.
When suspected al Qaeda terrorists attempted to use the global air cargo network to deliver explosive devices from Yemen last month, the Middle East’s reputation as the world’s terror capi
Panalpina will pay $81.9 million in fines and penalties to settle charges in the United States that it violated bribery laws, capping a case that led to management changes at one of the world's larges
Panalpina, the Swiss global forwarding and logistics group, reported third quarter profit jumped 13 percent from a year ago driven by strong growth in ocean and air freight traffic.
Panalpina launched its dedicated 747-400 freighter service linking Luxembourg with Dubai's new international airport and with Hong Kong.
Six international forwarders agreed to a total of $50.3 million in criminal fines after pleading guilty to air cargo price fixing, the U.S.
Panalpina hired executives from rivals Kuehne + Nagel and DHL to head up its core ocean and air freight divisions and brought in a former Timex Group supply chain executive to run its logistics arm.