Express

China's 2010 trade surplus expected to fall sharply

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Commerce ministry spokesman Yao Jian stated that China's trade surplus will fall steeply as the renminbi rises against foreign currencies, reported state media. Surpluses narrowed in the first quarter of 2010, with China declaring a US$7.24 billion trade deficit in March. China's trade surplus in April decreased 87 per cent from a year earlier, and the national surplus could nearly halve this year. China's largest trading partner for the first quarter was the European Union, with trade with the … [Read more...] about China's 2010 trade surplus expected to fall sharply

FedEx to buy six more 777Fs

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FedEx Express, subsidiary of FedEx Corp. has announced agreements to purchase six additional B777F freighters for its fleet worth about US$1.5 billion at list prices, which will be used to expand capacity to Asia and Europe from the US. The largest all-cargo airline in the world will purchase four B777Fs directly from Boeing and two from additional sources. Including this announcement, FedEx Express has agreed to purchase a total of 38 B777F aircraft. To date, FedEx Express has already taken … [Read more...] about FedEx to buy six more 777Fs

ABX parent may expand fleet

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Wilmington, US-based Air Transport Services Group Inc. (ATSG) has said it may expand its fleet by acquiring three B767-300 aircraft. ATSG is the parent corporation for ABX Air whose biggest customer was DHL Express before the German express and logistics company decided to pull out of domestic operations after years of losses. ATSG President and CEO Joe Hete said he is excited about the potential fleet expansion. ATSG’s aircraft leasing business recently executed a letter of intent … [Read more...] about ABX parent may expand fleet

Chip sales forecast to grow 30%

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Global semiconductor sales, which have declined in the last two years, are set to rebound strongly with growth of 30.6 per cent this year, the iSuppli market research group says in a new forecast. The projected growth follows a 15.4 per cent decline in semiconductor sales in 2009, to US$229.9 billion, a drop that helped drag down cargo volumes in the air freight industry, where the transport of high-priced, low-weight chips is an anchor commodity. The expansion will add some US$70 billion in … [Read more...] about Chip sales forecast to grow 30%

TNT Q1 profit rockets up 90%

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TNT has posted a net profit in the first quarter nearly double that of the same period a year earlier on strong gains in the express sector, but said it remains cautious about what it sees as a fragileeconomic recovery. TNT’s net profit jumped to US$190 million from $101 million, with the integrator realising a 54 per cent rise in operating profit to $334 million. Revenue increased 12 per cent to $3.65 billion — including $2.1 billion from the express division alone, … [Read more...] about TNT Q1 profit rockets up 90%

UPS posts strong Q1 results

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UPS said its net profit soared 33 per cent in the first quarter on broad earnings gains across all its business segments giving further optimism that a full-blown economic recovery is in progress. “With global economies showing signs of recovery and UPS’ strong start to 2010, we are optimistic about this year and the future,” UPS chairman and CEO Scott Davis said. Overall, UPS showed a US$533 million net profit in the quarter, up from $401 million in the first three … [Read more...] about UPS posts strong Q1 results