Friday, January 22, 2010

Panalpina Awarded Shipping And Warehousing Contracts By Samsung Panama

New Asia – Americas Work for Swiss Company
Shipping News Feature

PANAMA – Swiss logistics group Panalpina has been chosen by Samsung Panama to handle a variety of the electronic giant’s American freight and warehousing requirements. Three new deals have been struck which sees Panalpina winning new business and reaffirming existing contracts.

Panalpina will handle the majority of Samsung Panama’s FCL traffic between Asia and Panama for 2010, which is estimated at between 1,500 and 2,000 TEU’s. Additionally, Panalpina will take responsibility for delivering Samsung products from their factories in Asia, North America and Mexico to customers in South and Central America.

Panalpina has also been awarded a renewal on its contract to manage Samsung's warehouse operation in the Colon. This entails a three-year extension on the 8,000 square metre facility.

The news will be welcomed by Panalpina who, in common with the rest of the industry, suffered particularly badly last year from reduced volumes. With the news that a three-year investigation by the US Department of Justice into Panalpina’s West African operations is drawing to a close it is to be hoped that 2010 marks the turning of the corner for the company.