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Analysis: DSV preferred to its competitors

DSV is the preferred choice among the three major European forwarding agents, writes the German Berenberg Bank in an analysis leading up to the three companies’ first-half results.

Photo: Ritzau Scanpix/Anders Find.

DSV is the preferred choice among the three major European forwarding agents, and you should rather place your money with the Danish carriers than with their Swiss competitors in Panalpina and Kuehne + Nagel, writes the German Berenberg Bank in a new analysis leading up to the three companies’ first-half results.

“We prefer DSV to its forwarding agent competitors due to the low exposure to weak volumes in the air freight market and the diminishing earnings in sea freight. At the same time, DSV continues to benefit from the improvements in efficiency across the business and the relatively stable economic conditions in Northern Europe. That combination ought to cushion the effect of a weakened trading climate,” writes Berenberg in its analysis.

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