News / No ocean rates war at K+N pledge, as its rosy results are ignored by the market

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The new chief executive at Swiss freight forwarder Kuehne + Nagel International said today he refuses to engage in price slashing in the sea freight industry.

Reporting relatively upbeat 2013 financial results at lunchtime today, CEO Detlef Trefzger said: “Our policy is clear. We don’t induce or foster the price war. We try to stabilise our margins and conversion rate.”

K+N’s sea freight business grew slowly in 2013, despite faster expansion by some rivals.

“We were, in the first semester, extremely selective in ...