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Container volumes drop 11 percent at Kuehne + Nagel

Kuehne + Nagel loses more than a million in the second quarter, which was negatively impacted by the Covid-19 pandemic and societal lockdowns around the world. Cost-cutting measures, however, have a positive effect on the company.

Photo: PR / Kuehne + Nagel

Swiss logistics group Kuehne + Nagel lost millions in profit during the second quarter, when freight demand was lower as large parts of the world were in lockdown, shows the company's second quarter interim report, published Tuesday morning.

Seaborne freight was hit particularly hard, because "the negative market environment resulted in lower shipping volumes," the company writes in the report.

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