Latest news from Heavy Lift & Project Forwarding International Magazine

Profits stabilise at Panalpina

July 23 - Panalpina has reported revenues of CHF2.94 billion (USD3.08 billion) in the first six months of 2015 - down 8.9 percent over the same period of 2014 from CHF 3.23 billion (USD3.38 billion).

The Switzerland headquartered forwarder's gross profit also fell from CHF777.9 million (USD815.04 million) to CHF736.1 million (USD771.25 million) - a decrease of 5 percent, although the company's overall profitability remained relatively stable.

EBITA for the first six months of 2015 remained stood at CHF86.6 million (USD90.73 million) - down from CHF88.7 million (USD92.94 million); consolidated profit was up from CHF44 million (USD46.1 million) in 2014 to CHF45.3 million (USD47.46 million) - a modest rise of 2.95 percent.

"We succeeded in keeping profitability stable in the first six months of the year despite a soft air and ocean freight market. We are doing an increasingly better job of getting our costs under control. Currency adjusted, profitability was higher than last year," says Panalpina's ceo Peter Ulber.

Ulber added that during the first six months of 2015, ocean freight volumes grew in line with the market but airfreight cargoes slipped due to challenges in the energy sector.

"Our main focus remains on cost control and improving productivity," explained Ulber. "Despite the headwind in the energy sector, we are confident that we can recover lost ground in airfreight during the second half of the year. Our pipeline looks promising."

www.panalpina.com  

Heavy Lift | News

Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 226
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 232
Big Bend Channel expanded thumbnail image

Big Bend Channel expanded

April 22 - Port Tampa Bay in Florida has completed the USD63 million expansion of the Big Bend Channel, one year ahead of schedule.
Views: 306
Penman joins Malin React thumbnail image

Penman joins Malin React

April 22 - Malin Group has named Graham Penman as business unit manager of its recently launched Malin React division.
Views: 1450

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.