K&N sees sea freight demand up 20pc

Switzerland-based logistics major Kuehne & Nagel says sea freight demand accelerated in the second quarter of this year, helping the firm to post half-year net earnings of SFR281 million.

"We are optimistic about the further development of our business," the group said in a statement.

"However, continued credit risks in some southern European countries and the situation in international finance markets still require great vigilance."

K&N said sea freight volumes had grown 20 per cent in the first six months of 2010 and that the firm had outperformed the market.

In April, the company said it expected its sea freight volumes to grow 12 per cent in 2010 and air freight to rise 15 per cent.

K&N sees sea freight demand up 20pc

Switzerland-based logistics major Kuehne & Nagel says sea freight demand accelerated in the second quarter of this year, helping the firm to post half-year net earnings of SFR281 million.

"We are optimistic about the further development of our business," the group said in a statement.

"However, continued credit risks in some southern European countries and the situation in international finance markets still require great vigilance."

K&N said sea freight volumes had grown 20 per cent in the first six months of 2010 and that the firm had outperformed the market.

In April, the company said it expected its sea freight volumes to grow 12 per cent in 2010 and air freight to rise 15 per cent.