BASEL, Switz.--International freight forwarding and logistics company Panalpina said it made steady progress in 2013, outperforming the market in air and ccean freight, the company noted in a release.
Panalpina expects the air freight market to grow by 2 to 3% and the ocean freight market by 4 to 5% in 2014. The company aims to outperform the market in all segments, it said.
“We recovered from 2012 and gained market share in a low growth environment in 2013,” says Panalpina CEO Peter Ulber, who has been at the helm of the company since June. “I am happy to state that we outperformed the market in both Air and Ocean Freight. But there is still a lot of room for profitability improvements, especially in Logistics and Ocean Freight.”
In a market that only expanded by approximately 1% in 2013, Panalpina’s air freight volumes grew 3%. Panalpina transported 825,100 tonness of air cargo last year over 801,400 tonnes in 2012.
Panalpina’s Ocean Freight volumes grew 8% year-on-year, while the market grew an estimated 3%. The company transported 1,495,300 TEUs (twenty-foot equivalent units) in 2013 (2012: 1,388,300 TEUs).
Panalpina further expanded its warehousing and distribution activities including Value-Added Services (VAS), particularly for the technology and fashion industries, the company said.
“In 2014 we will focus on stabilizing our performance in Air Freight and improving productivity and operating margin in Ocean Freight,” says Peter Ulber.
In Logistics, the company’s top priority is to turn around loss-making facilities. It will also exit from overland capacity commitments while still developing Value-Added Services.
“We see Logistics as an important differentiator to complement our end-to-end offering,” adds Ulber. Another priority is to further expand the oil & gas and projects business, where Panalpina said it traditionally has strong expertise.