DSV isn’t seeing a general trend of shipping companies entering the company’s territory, CEO said during capital markets day. With one exception, however.
Aside from major disruptions to the global transport system, one recent major discussion in the logistics sector has concerned the large-scale entry of shipping companies into the freight forwarding and logistics industry.
Here, a particular focus has been that one of the world’s largest carriers, Denmark-based A.P. Moller-Maersk, has a stated strategy of becoming a full-scale logistics company handling the entire transport chain from factory to consumer. As such, Maersk has been investing in a lot of other types of assets than merely ships in recent years – including trucks, air freight companies etc.
This has prompted concern over what the consequence will be for forwarders such as compatriot DSV, which namely handles customers’ transport needs without owning any assets itself.
During DSV’s capital markets day, there was as such an interest in hearing about how the company’s management views the challenge.
Specifically, DSV was asked by one analyst what it can offer customers compared to ”those carriers” entering the broader logistics market.
Chief Executive Jens Bjørn Andersen was quick to correct, however, saying there aren’t ”several carriers” challenging DSV and other freight forwarders.
”There is really only one,” he said without mentioning which company.
However, there seemed to be no doubt that he was referring to the container shipping major.
According to Andersen, then, DSV is not seeing any large-scale invasion of the sector by shipping companies, which are usually customers of DSV.
”And the actions of a single carrier are not going to make us change our strategy,” he stressed during the capital markets day.
But French shipping giant CMA CGM, too, is becoming increasingly more interested in the logistics sector and has taken over company Ceva, which DSV had otherwise been interested in acquiring. Recently, the carrier also announced a large investment in Air France-KLM with an aim to increase its air freight collaborations.
