All Panalpina articles
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News
DSV drops Panalpina from company name
DSV has decided to drop Panalpina from its company name two years after its acquisition of the Switzerland-based forwarder.The forwarder said the decision to drop the DSV Panalpina name in favour of DSV was approved by shareholders at an extraordinary general meeting earlier today."Since 2019, DSV Panalpina A/S has been ...
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DSV back on the acquisition trail after strong 2020
DSV Panalpina saw its revenues and profits jump last year and is taking aim at another large acquisition following the integration of Panalpina.Last year, the Copenhagen-headquartered logistics firm saw its revenues increase by 22.4% year on year to Dkk115.9bn, earnings before interest and tax (ebit) before special items was up ...
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DSV and K+N take differing approaches to job cuts during the Covid-19 crisis
In late April Copenhagen-headquartered DSV Panalpina announced that it would cut around 3,000 jobs as a result of the coronavirus outbreak and its impact on the market.The logic to the move could be seen in the volume declines reported by many of the major forwarders – if you aren’t selling ...
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Global health crisis and acquisition impact DSV Panalpina Q1 results
DSV Panalpina saw revenues and airfreight volumes increase in the first quarter of the year, thanks to its acquisition of Panalpina, while the coronavirus outbreak had a negative impact on results."The financial performance in Q1 2020 was impacted by both the integration of Panalpina and the Covid-19 situation, the latter ...
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NewsHellmann nabs Raudszus for APAC role
Sven RaudszusSven Raudszus will take over the position of regional chief executive Asia Pacific (APAC) at Hellmann Worldwide Logistics from March 1.He will be responsible for the "operative and strategic business" within the Asia Pacific region, including Southeast Asia, Australia and New Zealand.Raudszus succeeds Mark Hellmann, who has played a ...
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DSV Panalpina warns of job cuts during restructure
DSV Panalpina Group has announced the possibility of job cuts as it relocates the former Panalpina headquarters (in Basel) to its headquarters in Denmark.The company said it is finalising its analysis of the impact on corporate functions at the former Panalpina headquarters but warned the relocation could result in up ...
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NewsDSV Panalpina carries out first shipment through its combined network
DSV Panalpina has carried out its first shipments as one company, following their merger (completed on August 19) which created the second-largest airfreight forwarder in the world.Last Thursday, DSV Panalpina's successful shipment of thurst reverser engine parts from Huntsville, US, to Luxembourg, marked the first time that the newly-formed company ...
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Panalpina announces changes to board of directors
Panalpina has made changes to its board of directors following its merger with DSV.The company said that it had decided to downsize its executive board by eliminating the positions of chief commercial officer, chief legal officer, chief information officer, executive vice president, airfreight and executive vice president, ocean freight.Lucas Kuehner, ...
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DSV-Panalpina merger creates world's second largest airfreight forwarder
DSV has announced that its acquisition of Panalpina will finally be completed today in a deal worth $5.5bn.The combined company will be recognised as DSV Panalpina and the merger will result in the creation of the second-largest airfreight provider in the world - DHL currently leads the pack.Panalpina is a ...
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NewsPanalpina broadens Middle East operations with new Oman office
International freight forwarding and logistics company Panalpina is set to open a new office in Muscat, Oman, in the third quarter of 2019.Around 900,000 barrels of oil are produced in Oman each day and this accounts for approximately 80% of the country's revenue. Panalpina's presence in Oman will therefore present ...
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NewsPanalpina's new Frankfurt pharma centre gains GDP approval
Newly GDP-certified -Panalpina’s Healthcare Logistics Center Frankfurt-Main. Photo - Miriam De Giorgi, PanalpinaPanalpina’s newly opened Healthcare Logistics Center in Weiterstadt near Frankfurt/Main Airport has obtained Good Distribution Practice (GDP) certification.On August 6, the facility has successfully passed an audit by inspection, verification, testing and certification company SGS and is now ...
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NewsDHL sees airfreight volumes slide in Q2
DHL Global Forwarding saw its airfreight volumes decline in the second quarter of the year, but its air gross profit was on the rise.The world’s largest airfreight forwarder reported a 2.4% year-on-year decline in second-quarter airfreight revenues to €1.2bn, while volumes dropped by 5.8% on last year to 502,000 tonnes ...
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NewsK+N airfreight volumes fall 5.8% in first half 2019
Kuehne + Nagel (K+N) saw first half 2019 airfreight volumes fall 5.8% to 813,000 tons, blaming “stagnating markets” in some key industries and an “under pressure” global air cargo sector hit by growing trade barriers.At SFr174m, K+N’s airfreight division saw its EBIT down by 4.4% compared to the 2018's like ...
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NewsPanalpina: Airlines to tighten capacity in a weaker 2019 peak season
Airfreight’s 2019 second half peak season will be weaker than 2018 and 2017, with airlines managing capacity more tightly in an attempt to lift rates.That is the view of Panalpina’s global head of airfreight, Lucas Kuehner, who was commenting on an estimated 5% second quarter fall in 2019’s global airfreight ...
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NewsPanalpina sees airfreight increase despite competitors targeting its customers
Panalpina recorded an increase in airfreight volumes in the first half of the year despite competitors targeting its volumes and the overall market downturn.The freight forwarder recorded a 5% year-on-year increase in first-half airfreight tonnage to 512,000 tonnes thanks to acquisitions, while air revenues declined by 2.6% to SFr1.5bn and ...
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Combined DSV-Panalpina to take 6% of forwarding market
The combined DSV-Panalpina business will hold a market share of 6% when the deal is completed, according to a report by consultant Transport Intelligence (Ti)The Global Freight Forwarding Report 2019 described DSV's takeover of Panalpina as the "most high-profile development in the forwarding sector in the past twelve months".The merging ...
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NewsTop 25 airfreight forwarders 2018: K+N continues to close in on DHL
The world’s largest airfreight forwarders had a bumpy landing in 2018 following on from a stellar 2017 (full chart at end of article).Based on figures from consultant Armstrong & Associates, the leading 25 airfreight forwarders recorded a 4.2% increase in volumes to 16.7m tonnes last year.In most years this would ...
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NewsDSV sets out its Offer Prospectus on Panalpina takeover
Denmark-headquartered DSV has laid out terms associated with its takeover of Panalpina in a document known as an Offer Prospectus.In it, DSV confirms that it intends to obtain full (100%) control of Panalpina.Following the successful completion of the takeover, the prospectus explains that, “DSV plans to commence the integration process ...
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NewsDSV expects Panalpina deal to complete in Q3 as profits rise
DSV expects to close its takeover of Panalpina by the end of the third quarter of this year.In its first quarter results, Denmark-based freight forwarder DSV revealed its expected timeline for its $4.6bn takeover of Panalpina.In May, DSV will file its planned share purchase with the relevant authorities, announce its ...
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Panalpina continues to expand in the perishables sector with its latest acquisition
Panalpina will continue the expansion of its perishables network in South America through the acquisition of CargoMaster in Colombia and its subsidiary, Laseair, in Ecuador.Panalpina said that CargoMaster is one of Latin America’s largest companies specialised in the airfreight export of perishables, mostly flowers to the US.From Colombia and Ecuador, ...