DSV’s Deal Desire May Be Thwarted By Panalpina’s Financial Flexibility — Panjiva


DSV’s Deal Desire May Be Thwarted By Panalpina’s Financial Flexibility

Corp - Forwarders 160 Financing 86 Global 747 Mergers 202 Mode - Airfreight 132 Mode - Seaborne 1286

Freight forwarder DSV has retained its commitment to further acquisitions in the order of 1 billion euros, though that’s not “carved in granite” according to CEO Jens Bjorn Andersen. Mr. Andersen sees the sector as being highly fragmented. Panjiva data shows the top 10 NVOCCs on U.S. inbound seafreight had a share of just 13% last month. DSV is in “no hurry” do to any deals currently though. One challenge may be financing. The forwarders as a group have two financing strategies. One group, including DSV, runs net debt balances in order to maintain “efficient” balance sheets. ...

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