TNT has announced the expansion of its services in East Kalimantan with the operation of Boeing 737-300 leased cargo freighter to fly the Singapore – Balikpapan route. TNT said the freighter service, with a capacity of 16 tonnes will have a significant impact on its service capability in Balikpapan with a competitive price to customers mainly from mining, oil & energy industry. The service is being operated by TNT’s partner, Cardig Air, Indonesia’s only … [Read more...] about TNT ups capacity on Singapore-Balikpapan route
Express
UPS sees net profit halved in Q2 from last year
UPS saw its net profit fall 49 per cent in the second quarter, to US$445 million with the company saying it expects the weak global economy to remain just as weak in the coming months. “The business environment in the third quarter should be similar to the second quarter,†UPS CFO Kurt Kuehn said. Overall revenue at UPS fell 16.7 per cent in the three months ending 30 June from the same period a year ago as volume across its domestic and international operations fell 4.7 per … [Read more...] about UPS sees net profit halved in Q2 from last year
DHL profit plunges 71 per cent, outlook uncertain
Depressed revenue and bad debts pushed profit in the second quarter down 71 per cent for the world’s biggest logistics company as Deutsche Post DHL warned of tough market conditions going forward. Profit plunged to US$93.7 million from $328 million a year ago. Mail, express, freight forwarding and contract logistics revenue all shrank by nearly 18 per cent to $15.8 billion. Operating income fell by a lower-than-expected 38 per cent to $392 million, aided by cost cutting. The … [Read more...] about DHL profit plunges 71 per cent, outlook uncertain
New India JV for GeoPost & Continental Air Exp
GeoPost, the express parcel arm of French Groupe La Poste, and Continental Air Express Pvt Ltd, an associate company of India-based Continental Carriers Group, have announced a new joint venture company based in New Delhi. The new company will be called DPD Continental Pvt. Ltd and will offer inbound and outbound express parcel services under the DPD brand to customers in India. GeoPost Intercontinental, the international expansion arm of GeoPost, will hold a 60 per cent stake while the … [Read more...] about New India JV for GeoPost & Continental Air Exp
Blue Dart posts US$4.8 million 1H profit
Blue Dart Express Limited, India’s largest domestic express air and integrated transportation, distribution and logistics company, posted a Rs114.35 million (US$2.7 million) profit after tax for the quarter ended 30 June and Rs231.19 million for the half year. Revenue from operations for the quarter ended June 30, 2009 stood at Rs2.1 billion and Rs4.2 billion for the half year. … [Read more...] about Blue Dart posts US$4.8 million 1H profit
Royal Mail privatisation scrapped
With bids coming in below the €5 billion target the UK government has scrapped controversial plans to partially privatise its state-owned, cash-strapped postal company, Royal Mail, putting its long term survival in question. “Market conditions have made it impossible to conclude the process to identify a partner for the Royal Mail on terms we can be confident would secure value for the taxpayer,†Business Secretary Peter Mandelson said. A number of interested bidders … [Read more...] about Royal Mail privatisation scrapped
