UPS

UPS expands its field stocking network in Asia

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UPS announced plans this week to boost its global post sales service options by expanding its field stocking location (FSL) network in India and by establishing an Asia Post Sales Customer Support Centre in Clark, Philippines. "Despite current economic conditions, Asia continues to be a global manufacturing hub and market research indicates Asia's contract logistics market could overtake North America's in the next five years," said Brad Mitchell, president of UPS Logistics & Distribution. "UPS … [Read more...] about UPS expands its field stocking network in Asia

China throws up barrier to int’l express carriers

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A new Chinese postal law may make life difficult for international express carriers operating in China to expand their business. The Chinese government on enacted a new postal law on 24 April that bars foreign companies from delivering domestic express letters. Without access to this segment it may be difficult to operate international express business in the country according to the Brussels-based Global Express Association, who called the move by China "protectionist". The market for express … [Read more...] about China throws up barrier to int’l express carriers

China throws up barrier to int'l express carriers

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A new Chinese postal law may make life difficult for international express carriers operating in China to expand their business. The Chinese government on enacted a new postal law on 24 April that bars foreign companies from delivering domestic express letters. Without access to this segment it may be difficult to operate international express business in the country according to the Brussels-based Global Express Association, who called the move by China "protectionist". The market for express … [Read more...] about China throws up barrier to int'l express carriers

UPS CEO warns against protectionism

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Fresh from announcing a 56 per cent plummet in first quarter earnings, UPS CEO Scott Davis warned that protectionist moves would seroiusly danger the fragile global economy. “UPS will emerge from these difficult times as a more efficient and finely-honed enterprise,” said Davis. He added: “In this worldwide recession, no one should lose focus on global trade. It is one of the most important tools we have to lift us out of this financial crisis. The fragile economic conditions … [Read more...] about UPS CEO warns against protectionism

UPS sees 1Q profit plummet 56%

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United Parcel Service has reported a 56 per cent drop in first-quarter earnings to US$718 million from $1.49 billion in the year-ago quarter and warned the second quarter will also be difficult. Revenue was off 13.7 per cent at $10.9 billion with the continuing deterioration in global economic activity resulting in decreased revenue and profitability in all business segments, according to UPS. The company added that it took an impairment charge on its entire fleet of 44 DC-8 aircraft for a … [Read more...] about UPS sees 1Q profit plummet 56%

UPS reports full-year ’08 profit

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UPS reported full-year 2008 net income of US$3 billion, widened significantly from a US$447 million profit in 2007 when its results were skewed by a one-time US$6.1 billion pension payment. But it said it must make "tough decisions" to cope with a "severe decline in economic activity around the world." This was more clearly indicated by its 2008 income which was down 28.6 per cent compared to US$4.2 billion in 2006. … [Read more...] about UPS reports full-year ’08 profit