Panalpina and the NYK Group have agreed to globally cooperate with each other based on the mutual recognition that both parties are in a position to provide support to each other because of their complementary geographic networks and business models around the world, as well as long-term friendly relations.

The two parties believe that they will increase efficiencies, reduce costs, and create new business opportunities through a strategic cooperation that includes logistics and transportation services, facilities, and networks on and over seas, land, and air.

Among various areas of collaboration, Panalpina and NYK subsidiary Yusen Air & Sea Service Co. Ltd. (YAS) will also enter into a comprehensive mutual cooperation relationship in the freight-forwarding business with a mutual agency contract in order to establish partnership successfully.