Panalpina

Panalpina inaugurated a dedicated oil and gas logistics hub in Singapore designed to boost the Swiss supply chain management firm's presence in the fast growing Asian market.

Swiss logistics group Panalpina reported higher second-quarter volume, rates and operating profit but posted a net loss after setting aside $123 million for an expected settlement of a U.S.

Panalpina, the Swiss global logistics and freight forwarding group, began operations at a 450,000-square-foot, state-of-the art multimodal transit and logistics hub in Dubai.

Panalpina expects to more than double its shipments with food processing giant Cargill under a large new contract the forwarder announced Wednesday.

Panalpina reported strong growth in ocean and air cargo traffic in the first quarter compared with a year earlier, but it only just remained in the black.

Shippers face steep hikes in air cargo freight rates and long delays when European air space re-opens, freight forwarders warned as airports across a large swath of the continent remained closed for a

Freight forwarder Panalpina last week chartered the only extant Antonov AN-225 freighter aircraft to move two laser welding machines with a combined weight of about 150 metric tons.

Panalpina, the Swiss global forwarder and logistics services company, fell into the red in the final quarter of 2009 but said it expects ocean and air cargo volumes to recover this year.