FedEx Express, subsidiary of FedEx Corp. has announced agreements to purchase six additional B777F freighters for its fleet worth about US$1.5 billion at list prices, which will be used to expand capacity to Asia and Europe from the US. The largest all-cargo airline in the world will purchase four B777Fs directly from Boeing and two from additional sources. Including this announcement, FedEx Express has agreed to purchase a total of 38 B777F aircraft. To date, FedEx Express has already taken … [Read more...] about FedEx to buy six more 777Fs
Logistics
Chip sales forecast to grow 30%
Global semiconductor sales, which have declined in the last two years, are set to rebound strongly with growth of 30.6 per cent this year, the iSuppli market research group says in a new forecast. The projected growth follows a 15.4 per cent decline in semiconductor sales in 2009, to US$229.9 billion, a drop that helped drag down cargo volumes in the air freight industry, where the transport of high-priced, low-weight chips is an anchor commodity. The expansion will add some US$70 billion in … [Read more...] about Chip sales forecast to grow 30%
Agility attains TAPA cert for two facilities
Agility has announced that two of its Malaysian facilities, including a logistics hub facility within its first year of operations, have attained Transported Asset Protection Association (TAPA) certification. The logistics hub facility in Bukit Jelutong, Shah Alam and the Finished Goods Hub for Hi-Tech Operations in the Sungai Way Free Industrial Zone in Petaling Jaya attained a warehouse classification level A. … [Read more...] about Agility attains TAPA cert for two facilities
Panalpina expects US$110 million penalty
Panalpina has set aside CHF 120 million (US$110.8 million) to settle US Department of Justice allegations relating to a former Nigeria subsidiary. The company allegedly infringed the Foreign Corrupt Practices Act and has since closed its Nigerian operation and restructured its organisation in West Africa. The provision does not cover ongoing antitrust investigations by the European Commission against thefreight forwarding industry. Panalpina had a 24 per cent growth in airfreight during the … [Read more...] about Panalpina expects US$110 million penalty
New survey points to benefits of collaboration
The findings of a new survey by Transport Intelligence (TI) have revealed that logistics providers can play an essential role in assisting logistics ‘collaboration’ projects between manufacturers. The results showed that 90 per cent of respondents believed that logistics companies could facilitate or broker deals between shippers. Unsurprisingly, the survey also showed that most companies (64 per cent) who entered into collaboration projects did so with the aim of reducing … [Read more...] about New survey points to benefits of collaboration
Demand growing faster than expected
Demand for both international air travel and air freight accelerated in March with the rebound on the back of economic recovery exceeding expectations, the International Air Transport Association (IATA) said this week. IATA said the air traffic recovery would dip in April because of the disruption from the Icelandic volcanic eruption, which hit European carriers in particular, and added that passenger and freight markets are still one per cent below early 2008 highs and the industry has lost two … [Read more...] about Demand growing faster than expected
