Presenting its results for the first half of 2009, Swiss-based freight forwarder Panalpina management said the industry is involved in a "cut-throat price war", 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
Panalpina
Huawei selects Panalpina as prime LSP
Swiss-based global forwarder Panalpina has been named as a prime logistics service provider (LSP) by China’s Huawei Technologies, a global telecommunications giant, for Huawei’s China-Brazil end-to-end business. Under the three-year agreement Panalpina will handle all international air freight estimated to be several thousand tonnes annually, from China to Brazil as well as the full logistics services at destination, including local distribution and warehousing. … [Read more...] about Huawei selects Panalpina as prime LSP
Coping with the crisis: Four views
Asked to address the current economic outlook and how best to cope with the downturn, four executives representing airports, government, logistics and air carriers were unanimous in their conviction that a full recovery was in store for the globaleconomy, it’s just a matter of when. The airport view “In general the long term trend will be upwards,†said Munich Airport’s president and CEO, Michael Kerkloh adding that he expects there may be some structural … [Read more...] about Coping with the crisis: Four views
Huawei selects Panalpina as prime LSP
Swiss-based global forwarder Panalpina has been named as a prime logistics service provider (LSP) by China’s Huawei Technologies, a global telecommunications giant, for Huawei’s China-Brazil end-to-end business. Under the three-year agreement Panalpina will handle all international air freight estimated to be several thousand tonnes annually, from China to Brazil as well as the full logistics services at destination, including local distribution and warehousing. Panalpina … [Read more...] about Huawei selects Panalpina as prime LSP
Panalpina Q1 profit nose dives 94%
Swiss logistics group Panalpina reported a 94 per cent drop in first-quarter profit to 1.9 million Swiss francs (US$1.64 million), but said it was on track to reach its cost-cutting goal for 2009 which includes cutting 10 per cent of its workforce. "The massive recession-related global volume decline seen since the end of 2008 has impacted Panalpina on all major trade lanes and had negative effects on the results in the first quarter," said chief executive Monika Ribar. "However, with the … [Read more...] about Panalpina Q1 profit nose dives 94%
Panalpina makes smooth Nigerian domestic exit
Panalpina has said it made a “smooth withdrawal” from Nigeria after incurring major and costly problems in that West African market over the last couple of years. The Switzerland-based global forwarder and logistics provider said it would concentrate its future activities in Nigeria on transport services up to arrival at port or airport. All domestic services, including customs clearance, had been discontinued. “It was very important for us to ensure that the … [Read more...] about Panalpina makes smooth Nigerian domestic exit
