DSV Panalpina, DP-DHL upgrade outlooks as forwarders look forward to a strong Q4 — Panjiva
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DSV Panalpina, DP-DHL upgrade outlooks as forwarders look forward to a strong Q4

Corp - Forwarders 347 Earnings 759 Mode - Containerized 1524 Mode - Seaborne 1845 U.S. 5399

The freight forwarding sector is becoming more positive about the outlook for the rest of this year. Deutsche Post raised guidance for the operating profit of DHL by 17% for calendar 2020 and DSV Panalpina increased its guidance by 9.5% for the same period. Deutsche Post cited a “very strong peak season” while DSV-Panalpina expects a “gradual improvement of freight markets”. Both have seen a surge in U.S. seaborne shipping in the last month of Q3 with imports handled by DP-DHL and DSV-Panalpina up by 20.2% and 15.3% year over year respectively in September. That outpaced the industry ave...

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