Kuehne+Nagel more than doubles earnings in third quarter

Logistics major Kuehne+Nagel is reaping the rewards of a strong global demand for transport, which has resulted in soaring earnings. The constrained market situation is expected to continue in coming months.

Photo: Kuehne + Nagel - PR

Kuehne+Nagel comes out stronger from the third quarter, with global freight demand contributing to more than a doubling of the company's profits, evidenced in the company's unaudited third quarter financials published Wednesday morning.

Like the rest of the market, the Swiss logistics company is experiencing a difficult market for sea logistics ridden by bottlenecks in ports and "out of sync" supply chains. And the company also expects the strained market to continue for some time to come, as CEO Detlef Trefzger notes in a press release.

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