INTERNATIONAL logistics company Kuehne + Nagel has listed seafreight as an important contributor to “significantly improved results” for both the third quarter and the first nine months of the year.
According to K + N, seafreight and overland continued their momentum in the third quarter.
With an increase of 7.3% year-on-year to 5.6bn Swiss Francs, Seafreight posted “a very solid net turnover growth and once again improved its performance in the third quarter”.
Kuehne + Nagel grew significantly in a stagnating overall market and, with 3.67m standard containers, the group transported 152,000 units more than in the same period of last year.
Main success drivers were said to be a selective growth strategy, effective cost management and service standards.
CEO Dr Detlef Trefzger said against the backdrop of “tense global markets”, Kuehne + Nagel delivered solid results.
“In Seafreight and Overland in particular, our focus continued to be on customer service, cost efficiency and digitalisation,” Dr Trefzger said.
Meanwhile the airfreight market was reported to have declined “in an environment of global economic uncertainty and rising trade barriers”.