DP-DHL boosts outlook as forwarders’ shipping boom continues

Corp - Forwarders 310 Earnings 623 Mode - Containerized 1382 Mode - Seaborne 1719 U.S. 5046

DP-DHL has upgraded its 2021 outlook after reporting a 221% increase in Q1’21 EBIT which included a 195% rise in the firm’s freight forwarding operations. Volumes of air- and seafreight have improved while shipping rates have “stayed at attractive levels”. U.S. seaborne imports linked to the firm climbed 63.8% year over year in March, driven by a 247% jump in shipments from China which were also 133.5% higher than March 2019. The surge in import activity is not unique to DP-DHL. Indeed, it was one of the slower growing freight forwarders in March with the fastest growth being delivered b...

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