DSV Panalpina expects growth in second quarter – but sees ocean freight drop by up to 20 percent

DSV Panalpina expects that market demand in the second quarter 2020 will drop by 15-20 percent for ocean freight and 25-30 percent for air freight.

Photo: Stine Bidstrup/ERH

DSV Panalpina has published a market update for the second quarter, in which the transport major offers expectations for its operating income in the second quarter, while the full-year guidance remains suspended.

Based on market developments, progress with the integration of Panalpina and other cost initiatives, DSV Panalpina expects an operating profit, EBIT, before special items of more than DKK 2.3 billion (USD 347.5 million) in the second quarter, compared to DKK 1.56 billion in the first quarter.

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