DHL Global Forwarding and Cathay Pacific Airways have signed a memorandum of understanding (MOU) for a Security Partnership Programme. Under the MOU, DHL Global Forwarding will further enhance the security of high-value freight for customers, including pharmaceutical, fashion or high-technology that are pre-alerted as requiring special loss prevention measures, the company said.

The aim of the security partnership programme between two parties is to share the industry best practices in loss prevention against cargo crime, also through close communications with various organizations such as freight forwarders, airport authorities, law enforcement agencies and Customs authority.

UPS reports 43% drop in Q3 profit In October UPS reported third-quarter net profit of US$549 million, down 43.4 per cent from a $970 million profit in the year-ago period.

“I’m encouraged by the signs of economic recovery that are becoming apparent, although we still have a long way to go,” chairman and CEO Scott Davis said.

CFO Kurt Kuehn added that UPS’ prospects in the upcoming traditional holiday season are uncertain as it is unclear how consumers will be spending.

UPS noted that while volumes have staged a recovery in the last quarter rates are still depressed.

Daily volume on its international package business was up four per cent year-on-year but average revenue per piece sank 21 per cent to $17.97 and international package revenue fell 17.9 per cent to $2.42 billion. “UPS is poised for the recovery when it comes,” Kuehn said.