DSV Panalpina A/S

Panalpina has cooperated with its Iranian agent Chain International Transport Co. since 2000. Chain International with its head office in Teheran and numerous other offices throughout the country employs over 110 very well educated and trained staff. They provide all modes of transport also for heavy-lift and oversized cargo. Furthermore they provide customs clearance and logistics services.

If extra expertise is needed in Iran, Panalpina is ready to send its project managers to the country for supervision on the ground." (My News Desk, "Ready for Iran," 1/18/2016).  (http://www.mynewsdesk.com/dsv-corporate-news/news/ready-for-iran-136461)

In 2019, CalSTRS identified DSV A/S as potentially having ties to Iran with the merger with Panalpina Welttransport Holding AG and began the review process. DSV A/S merged with Panalpina Welttransport Holding AG, which had previously been identified as possibly providing shipping services to Iran.  (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2019.pdf?1577750493)

"DSV A/S merged with Panalpina Welttransport Holding AG, which had previously been identified as possibly providing shipping services to Iran. In 2019, CalSTRS identified DSV A/S as potentially having ties to Iran with the merger with Panalpina Welttransport Holding AG and began the review process. In 2020, CalSTRS removed DSV Panalpina A/S after reviewing the company’s internal controls to prevent sanction violations." (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2020.pdf?1609284307)

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"Iran is a highly attractive market – one where Panalpina wants to grow its business now that the international embargoes have been lifted. Opportunities lie, first and foremost, in oil and gas.