Panalpina Growth Parked Ahead of DSV Scale Push — Panjiva
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Panalpina Growth Parked Ahead of DSV Scale Push

Corp - Forwarders 160 Earnings 371 Global 747 Mode - Containerized 1017 Mode - Seaborne 1286

Panalpina reported 5.0% year over year revenue growth in 1Q 2019, marking the slowest expansion by the freight forwarder since 1Q 2017. That’s largely been down to a 3.0% drop in ocean freight volumes due to a weak macroeconomic situation, according to CEO Stefan Karlen. The firm may have tried to offset the weaker market by competing for market share. Panalpina’s U.S. seaborne inbound shipments climbed 4.7% year over year as the result of a 31.1% surge in shipments from China in 1Q 2019. The firm’s prospects are a function of the ongoing takeover by DSV, where scale – both via acq...

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