Latest news from Heavy Lift & Project Forwarding International Magazine

Panalpina posts 'stable' figures

October 25 - In the first nine months of 2016, Panalpina recorded a slight increase in EBIT and consolidated profit, when adjusted for a second-quarter restructuring provision of CHF26 million (USD26.1 million).

Panalpina posted an EBIT of CHF93.6 million (USD94.1 million) and a profit of CHF72.6 million (USD73 million), with a 9 percent year-on-year increase in airfreight volumes and a 9 percent decrease in ocean freight volumes.

"Despite shrinking air and ocean freight markets and high margin pressure in the first nine months of the year we delivered an improved EBIT and consolidated profit," said Panalpina ceo Stefan Karlen. "Continued high cost discipline, particularly in the third quarter, made this achievement possible."

Panalpina attributed the 9 percent decrease in its ocean freight business to significantly lower volumes in oil and gas since the beginning of the year, as well as a discontinued high-volume contract.

Gross profit in the company's logistics division decreased by 4 percent to CHF293.3 million (USD294.9 million), compared with the same period in the previous year. 

Commenting on the outlook for the global logistics provider, Karlen said: "It is our firm intention to grow organically, but also by way of bolt-on acquisitions. In this process, we don't expect any tailwind from the markets in the foreseeable future."

www.panalpina.com

Heavy Lift | News

Zuchowski joins Pintsch Bubenzer thumbnail image

Zuchowski joins Pintsch Bubenzer

February 24 - Pintsch Bubenzer USA has named Mike Zuchowski regional sales manager for ports in the western region of the USA and Canada.
Views: 107
West P&I to acquire NMI stake thumbnail image

West P&I to acquire NMI stake

February 24 - West of England P&I Club has signed an agreement to acquire a significant stake in Nordic Marine Insurance (NMI).
Views: 142
Buckner boosts training programme thumbnail image

Buckner boosts training programme

February 24 - Buckner Heavylift Cranes has added ITI Online's library of courses to supplement its monthly safety training curriculum.
Views: 95

Heavy Lift Across The World

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