Comment / Analysis: Kuehne + Nagel on a slow path to value destruction?

There could something fundamentally wrong in an industry where the market leader and other players experience huge swings in working capital management (WCM), leading to tighter short-term liquidity.

That is usually true when most of the players in a sector are financially weak, particularly with capital heavy businesses.

But that is not the case with the world leader in ocean freight, Kuehne + Nagel. However, its performance in the first nine months of the year should raise eyebrows, as far as WCM ...