Kuehne + Nagel CEO sees "tense market" continue for the rest of 2021
Results improved in the first quarter for Kuehne + Nagel, which more than doubled its bottom line compared to the start of 2020. CEO Detlef Trefzger expects the market to "remain challenging" for the rest of the year. Financial report shows drop in number of employees.
Kuehne + Nagel CEO Detlef Trefzger describes the current market as "tense" and expects this environment to remain challenging throughout the rest of 2021, according to the logistics company's financial report for the first quarter, released Monday.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.