Malaysia Airlines Cargo (MASkargo) plans to invest 100 million ringgit (US$30 million) to upgrade the material handling system of its cargo handling complex at Kuala Lumpur International Airport (KLIA) over the next four years, according to MASkargo. "Although the business environment remains challenging, we in the industry are expecting 2010 to be less volatile with moderate growth forecasted," said MASkargo managing director Shahari Sulaiman. Sulaiman said the upgrade would commence in … [Read more...] about MASkargo to upgrade cargo complex
Freight Forwarders
101 new China stocking locations for UPS
UPS has announced plans to increase its service parts logistics network in China with 101 new field stocking locations (FSLs) which will complement its existing 950 FSLs in 120 countries. The UPS FSL network expansion will cover 89 key cities across China, spanning more than 110 bonded and non-bonded FSLs, the express company said. “This expansion in China is important to the growth of our Post Sales business worldwide and will benefit companies who require close-to-customer China FSLs for … [Read more...] about 101 new China stocking locations for UPS
Jade aims to turn Chengdu into key cargo hub
After carrying out an in-depth and thorough analysis of feedback obtained from freight forwarders and watching what others were doing, Jade Cargo decided that Chengdu, the capital and largest city in Sichuan province, offered the best location to build a central China hub to serve theEuropean market. In line with this strategy, Jade Cargo launched a new cargo service from Amsterdam via Vienna to Chengdu Shuangliu Airport carrying a nearly full load on 1 December 2009. The twice a week service … [Read more...] about Jade aims to turn Chengdu into key cargo hub
TNT foregoes mail for parcels and freight
Dutch express company TNT said it will focus on its express parcel and freight operations over the next five years to offset shrinking mail volumes. The group plans to accelerate growth in the US$30 billion-a-year European standard parcels market by targeting next day domestic delivery and economy cross-border shipments. The company outlined its strategy in a five-year plan, dubbed “Vision 2015â€Â, which highlighted the challenges it faces as its domestic and European postal … [Read more...] about TNT foregoes mail for parcels and freight
UPS looking at acquisitions
United Parcel Service Inc (UPS) is looking for acquisitions to bolster its supply-chain and freight-forwarding units, according to its CEO Scott Davis. UPS has made more than 40 purchases in the past decade, and there are “likely to be some more†in the coming year, with China, India and the Middle East at the “top of the list†for expansion, said Davis according to a Bloomberg report. “We’re strengthening ourselves in emerging markets, the Middle East, … [Read more...] about UPS looking at acquisitions
Panalpina third quarter slides 40%
Basel-based freight forwarder, Panalpina said net profit for the three months was US$3.7 million, a 40 per cent slide in year-on-year revenue. Earnings before interest and tax fell to US$10.7 million in the three months to 30 September from $57.2 million a year ago and net forwarding revenue declined to $1.4 billion from $2.36 billion a year earlier. Volumes are down from last years by 25 per cent for air cargo and 18 per cent for sea freight, which the group attributed to the chronically weak … [Read more...] about Panalpina third quarter slides 40%
