Panalpina has blamed US-China trade tension and market uncertainty for lower first-half profits – and warned of rising charges for customers.
Publishing a Q&A with its heads of air and ocean freight, Lucas Kuehner and Peder Winther, the company notes depressed markets in both modes.
In air freight for the first half, Panalpina’s ebit was Sfr38.4m ($39m), from net forwarding revenues of Sfr1.5bn, down 28% and 2.5% year-on-year respectively. But Mr Kuehner said that the exceptionally ...
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