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
Logistics
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
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
