Panalpina: Volume way down through 3 quarters

Panalpina: Volume way down through 3 quarters    Global logistics company Panalpina said Thursday its freight volumes and gross profit through three quarters of 2009 will be well down over the same period in 2008.
   The company is due to release comprehensive details of its performance over the first nine months of the year on Nov. 5, but gave an indication this week that they will pale in comparison to last year.
   Ocean freight volumes have sunk 18 percent through September, while air freight volume was down 25 percent year-on-year. As a result, gross profit is down 19 percent.
   The company did say air freight and ocean freight volumes rose from the second quarter of 2009 to the third quarter, by 10 percent and 13 percent, respectively.