Panalpina Acquired By DSV Under $4.6Bn Deal

Danish logistics giant DSV offered Swiss logistics giant Panalpina an unrefusable offer of
Swis franc195 / share in a deal worth approx $4.6 bn in order to become world leading freight forwarding company .

DSV & Panalpina both were in negotiation for last 2 months with deal starting at
Swiss Franc 170/ share in January which seems to be finally closing at Swiss Franc 195 / share .

After acquiring Panalpina DSV will become 4th largest freight forwarding company in terms of revenue .

After deal completion both logistics giants will be strengthened globally with air tonnage touching to 1.5 m tonnes & sea freight close to 3 m containers (TEUs) yearly.

DSV is also planning to change its name to "DSV Panalpina" in order to reflect its presence & long rich history worldwide .

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Saudia Cargo Transports 58 Cars to Riyadh For Formula E Series Racing

Saudia Cargo for the first time transported 58 cars & various equipment for ABB FIA Formula E Championship sponsored by Saudi Airlines .

The cars , spares & equipment are flown in from various European destinations to Ad Diriyah located on outskirts of Riyadh also handling first time this ABB FIA Formula E Championship.

Formula E championship inspired by innovation uses only electric powered cars for racing & it gives same excitement of track racing.

The 58 cars transported through several aircrafts had a combined load of 220 tonnes.

The Formula E Championship started from Beijing in 2014 touring New York, Paris , Hongkong & now the fifith series race will be in Ad Diriyah.

This 3 day festival will have various activities from track racing to live musical performance to gaming platforms which will be an exciting opportunity for Formula E championship fans.

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Hong kong airport sees resurge in cargo vol for August

After dip in cargo traffic in July, Hong kong airport sees cargo traffic growth in August .

As per Hong kong International Airport (HKIA) the airport saw 2.4% growth YOY in August to 431000 tonnes.

HKIA said: “The airport saw strong 9% year-on-year growth in transhipments, which contributed the most to the increase in cargo throughput.

“Amongst key trading regions, traffic to and from North America and Southeast Asia posted the most significant growth.”

While the airport saw cargo demand return to growth during the month, the increase does lag behind figures during the first eight months when freight traffic increased by 3.1% to 3.3m tonnes.

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Panalpina Opens new logistics centre at Singapore

Located on Pioneer view with an area of 3.5 football pitches Panalpina opens new logistics centre at Singapore.

The warehouse is constructed six floor measuring 25,800m2 of which major space is already rented out .

As per chief executive officer of Panalpina Singapore is very important location for Panalpina as 96 out of its 100 global customer are based out of Singapore.

The new facility can also be used for testing & using new technology including Internet of Things, augmented reality & various automation systems. It can also run 3D printers on behalf of customers which can promote distributed manufacturing in near future.

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