Presenting its results for the first half of 2009, Swiss-based freight forwarder Panalpina said the industry is involved in a “cut-throat price warâ€Â, adding that it would not participate because transport prices were well below cost. Second-quarter profit slumped 68 per cent to 14.6 million Swiss francs (US$13.7 million) on legal costs tied to a corruption investigation in the US and an antitrust probe in Switzerland. Sales fell to 1.36 billion Swiss francs. Panalpina cut the … [Read more...] about Panalpina will not join price war
freight forwarder
C.H. Robinson acquires UK-based forwarder
US-based logistics provider, C.H. Robinson, has acquired London based freight forwarding company Walker Logistics Overseas, which caters primarily to customers in the electronics telecommunications, medicals, sporting goods and military industries. Walker, established in 1977, is a global, fully integrated import and export door-todoor provider specialising in air and ocean freight, warehousing, courier, and logistics solutions with five offices in the UK, Ireland, and the Netherlands. … [Read more...] about C.H. Robinson acquires UK-based forwarder
Kintetsu profit declines
Kintetsu World Express, Japan's second-largest international forwarder, said it suffered a drop in profit on a consolidated basis between April and December from a year earlier despite revenue growth. Group operating revenue during the first three quarters of fiscal 2008 totaled Â¥221.634 billion yen (US$2.42 billion), up 4 per cent on-year. But group operating, ordinary and net profits all fell because of repeated hikes in fuel surcharges and a sharp decline in the volume of air cargo volumes … [Read more...] about Kintetsu profit declines
