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
Logistics
Aramex joins Cargo 2000
Dubai-based global logistics solutions provider, Aramex, has announced that it has joined Cargo 2000, an industry group within the International Air Transport Association (IATA) specialising in quality management systems for the global air freight industry. Cargo 2000 re-engineers the air cargo transportation scheme from shipper to consignee. Its processes are backed by quality standards that are measurable to improve the efficiency of air cargo. Cargo 2000's global member base comprises some 60 … [Read more...] about Aramex joins Cargo 2000
Maximus to buy aircraft, move into scheduled services
UAE-based charter operator Maximus Air Cargo is planning to start its own scheduled freighter services. “This will either be under our own commercial responsibility or by going into a partnership with an established flag carrier,†said marketing manager Thomas Bommer. “It’s too early to give specific routes at this stage as we are in the process of analysing different scenarios. We think that Southeast Asia, China and the Indian subcontinent will be among the first … [Read more...] about Maximus to buy aircraft, move into scheduled services
TNT ups capacity on Singapore-Balikpapan route
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 scheduled cargo carrier and … [Read more...] about TNT ups capacity on Singapore-Balikpapan route
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
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