News Content
Panalpina has 'exceptional' year on back of high air freight rates, tight capacity
SUPPLY chain services provider Panalpina says 2017 was "an exceptional year for air freight," with its third quarter volume up eight per year on year.
The Basel, Switzerland-headquartered company said it handled 249,000 tonnes of air cargo during the July-September period, compared with 228,000 tonnes over the same period in 2016, reported London's Air Cargo News.
"Summer was anything but the usual calm and Panalpina's early prediction of a very busy peak season in the last quarter turned out to be correct," the company said in a statement.
It attributed the strong performance to the market developing "a new dynamic characterised by tight transport capacity and sustained high freight rates."
In October the company handled its highest ever monthly airfreight volume, a record that was then topped the following month.
The Basel, Switzerland-headquartered company said it handled 249,000 tonnes of air cargo during the July-September period, compared with 228,000 tonnes over the same period in 2016, reported London's Air Cargo News.
"Summer was anything but the usual calm and Panalpina's early prediction of a very busy peak season in the last quarter turned out to be correct," the company said in a statement.
It attributed the strong performance to the market developing "a new dynamic characterised by tight transport capacity and sustained high freight rates."
In October the company handled its highest ever monthly airfreight volume, a record that was then topped the following month.
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