Panalpina aims for volume growth in 2010

Panalpina Welttransport Holding is aiming for volume growth in line with the broader transport market in its air and sea freight arms, chief executive Monika Ribar told Dow Jones Newswires.

"We have stated very clearly we want to grow with the market and we are somewhat cautious because we have to grow profitably," Ribar said, after the Basel-based shipping firm reported fourth-quarter earnings.

Panalpina estimates mid-single-digit broader industry growth rates for sea and air shipping.

The Swiss logistics group posted a net loss of US$10.21 million in the fourth quarter of 2009.

Source: Cargo News Asia