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 Bonn-based company, … [Read more...] about DHL profit plunges 71 per cent, outlook uncertain
Express
Schenker begins ops at new Korean semiconductor facility
DB Schenker has extended its involvement in the Korean logistics market with the start of operations of Schenker Korea Ltd's semiconductor distribution centre at its Korea Logistics Center in the Free Trade Zone at Incheon Airport. The first of its kind in Korea, the facility began operations recently for Dutch company ASML - a leading provider of lithography systems for the semiconductor industry that are critical to the production of integrated circuits, or chips. … [Read more...] about Schenker begins ops at new Korean semiconductor facility
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 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 cent. But on … [Read more...] about UPS sees net profit halved in Q2 from last year
DB Schenker inaugurates new Euro air freight hub
DB Schenker inaugurated its new €50 million European air freight hub at Frankfurt Airport this week, with operations to begin in early August which will see import and export units currently operating at different sites merged into a single unit at the airport. “This European hub is an essential turntable within our international air freight network. It will contribute to expand our position in the global competition,†said member of the Management Board of DB Mobility … [Read more...] about DB Schenker inaugurates new Euro air freight hub
IATA: Asia cargo carriers optimistic of rising demand
The latest Airline Business Confidence Index from the International Air Transport Association has indicated carriers in Asia are more optimistic of a stabilisation of profitability over the next twelve months, compared with their counterparts in Europe and North America. The report noted that air cargo demand and yields continued to suffer in the last quarter of 2009, but "recent traffic results indicate that a floor may have been reached during the first half of the year with international FTKs … [Read more...] about IATA: Asia cargo carriers optimistic of rising demand
China posts 7.9% GDP growth for second month
China has reported a 7.9 per cent year-on-year growth in its estimated gross domestic product (GDP) for the second quarter, spurred by a government economic stimulus package. The April-June figure was up from 6.1 per cent in the first quarter and took China's GDP growth to 7.1 per cent for the first six months of this year compared with the same period last year, according to the country's National Bureau of Statistics. In another sign of improvement, China's industrial output grew by 10.7 per … [Read more...] about China posts 7.9% GDP growth for second month
