Supply Chain Research

Freight forwarder DSV has been assigned a BBB+ credit rating by S&P Global Ratings, while CFO Jens Lund has indicated that could make it easier to refinance acquisitions. Corporate M&A activity in the forwarder sector has focused more on bolt-on deals than larger deals this year.  DSV’s slower revenue expansion (just 3% in 2Q) and middling volume growth (U.S. seaborne inbound shipments grew 5% in the three months to August 31 on a year earlier) may lead it to consider opportunities for investment-led growth. One gap in its business mix can be seen in its Transpacific marine operations. ...