“Panalpina believes in a moderate recovery of both the air freight and ocean freight markets with mid singledigit growth rates,†said chief executive Monika Ribar. “We are confident to grow at least at the market level this year,†she added.
Panalpina transported 731,000 tonnes of air freight in 2009, down 19 per cent on the previous year, while ocean container volume contracted 14 per cent to 1.1 million TEUs (20-foot equivalent units).
The group swung to a US$10.2 million loss in the three months ending 31 December from an $8.3 million year-earlier profit as net forwarding revenue declined to $1.45 billion from $2 billion.
Full year earnings slumped to just $9.3 million from $105.5 million and net forwarding revenue slipped to $5.5 billion from $8.2 billion in 2008.
Vectura outsources logistics to Kuehne + Nagel Vectura AS, a leading supplier of logistics services for producers, agents and importers of wine and spirits in Norway, has signed a three-year agreement to outsource warehousing and distribution activities at its Trondheim site to Kuehne + Nagel.
Kuehne + Nagel will manage the 8,000 sqm facility which currently handles 11 million units per annum and has over 3,700 active stock keeping units. In addition, Kuehne + Nagel will select and manage the transport carriers used to undertake all deliveries from the Trondheim warehouse.