Latest news from Heavy Lift & Project Forwarding International Magazine

Panalpina reports positive results, as shareholders grapple for control

Panalpina has reported positive annual results, amid ongoing internal discussions over shareholder voting rights.

The Swiss freight forwarder ended 2018 with record airfreight volumes and solid profitability from its logistics divisions. Although volumes in its ocean freight business decreased 2 percent year-on-year, Panalpina ceo Stefan Karlen said the company “performed strongly overall in 2018”.

In announcing its annual results, the company’s investors presentation drew attention to the topic of voting rights, following the Ernst Göhner Foundation’s (EGF) calls for the implementation of a one share, one vote regime.

Currently, there is a 5 percent voting restriction on shareholders. However, EGF is exempt from this as it held its shares prior to the introduction of the voting restrictions.

EGF’s calls for the one share, one vote regime follows criticisms from minority shareholder Cevian, which requested the voting restrictions be applied to all shareholders. This would have reduced the voting power of EGF - Panalpina’s largest shareholder - to 5 percent.

An ad hoc board of independent directors, consisting of five directors (without representatives of EGF and Cevian) and chaired by Thomas Kern, is currently evaluating the situation based on expert opinions submitted by EGF and Cevian and based on independent expert advice obtained by the board.

www.panalpina.com

www.ernst-goehner-stiftung.ch

www.ceviancapital.com

Heavy Lift | News

Cosco places semi-sub order  thumbnail image

Cosco places semi-sub order 

June 26 - Cosco Shipping Specialized Carriers has placed an order with Guangzhou Shipyard International for the construction of a semi-submersible vessel. 
Views: 244
Conceptum handles mining equipment thumbnail image

Conceptum handles mining equipment

June 26 - Conceptum Logistics has coordinated the shipment of 2,000 freight tons of conveyor equipment from China to a mine in Ecuador.
Views: 210
Former Hansa duo to lead LOC Hamburg thumbnail image

Former Hansa duo to lead LOC Hamburg

June 26 - Marine and engineering consultancy LOC has opened an office in Hamburg as it aims to develop its renewables and shipping services in Europe. 
Views: 265
Dan-Czech presses ahead thumbnail image

Dan-Czech presses ahead

June 26 - Dan-Czech Specialtransport has delivered press parts from Hamburg, Germany to Sungwoo’s factory in Ostrava in the Czech Republic.
Views: 292

Heavy Lift Across The World

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