UPS and SF Holding have announced approval of their planned joint venture by China’s Ministry of Commerce (MOFCOM). The jv enables them to collaborate on development and provision of international delivery services from, China to the U.S. initially, and to other trade lanes in the future. The JV approval is a positive development for international trade and allows the two leading companies to leverage their complementary networks, service portfolios, technologies and logistics … [Read more...] about UPS and SF receive regulatory approval in China
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UPS places order for 14 B747-8 Freighters
UPS and Boeing today announced that the US-based integrator has ordered 14 new B747-8 Freighters, worth US$5.3 billion at list prices, to meet increased demand for the company’s express services. The agreement also includes an option to purchase an additional 14 aircraft. UPS said the B747-8s will enable it to begin a cascade of aircraft route reassignments that will add significant air capacity to the company’s busiest trade lanes, "thereby optimising global air network capacity well beyond … [Read more...] about UPS places order for 14 B747-8 Freighters
UPS expands its Worldwide Express Plus service
UPS today announced the expansion of its earliest morning package delivery service, UPS Worldwide Express Plus to include 28 new countries, including Vietnam, Thailand, Mexico and United Arab Emirates. The Express product will also see enhanced service to cover more postal codes in 25 existing countries including Singapore, China, Japan, Korea, Hong Kong, India, Canada and the UK. Shippers can reach the top 20 economies in the world earlier than ever before, according to UPS. Businesses in … [Read more...] about UPS expands its Worldwide Express Plus service
UPS partners on Rwanda drone network for humanitarian delivery
The UPS Foundation today announced a partnership with Zipline, a California-based robotics company, and Gavi, the Vaccine Alliance, to explore using drones to transform the way life-saving medicines like blood and vaccines are delivered across the world. To the support the initiative UPS has awarded a US$800,000 grant to support the initial launch of this initiative in Rwanda. All too often, UPS notes, critical health products spoil or fail to reach the individuals who urgently … [Read more...] about UPS partners on Rwanda drone network for humanitarian delivery
Healthy Q1 for UPS, Asia export growth offsets US softness
UPS today announced its first-quarter 2016 international operating profit increased 15 per cent to US$574 million. Total revenue was $14.4 billion, up 3.2 per cent over the same quarter last year. Revenue growth was slowed by lower fuel surcharges and currency exchange rates, the company said. On a currency-neutral basis, revenue increased 3.7 per cent. Lower fuel surcharge rates reduced revenue growth by approximately 150 basis points. "The major Asian economies are showing signs of … [Read more...] about Healthy Q1 for UPS, Asia export growth offsets US softness
Brazil quashes UPS appeal over FedEx’s TNT takeover
FedEx Corporation has gained approval from Brazil's anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. UPS appealed after Brazil unconditionally approved the $4.8 billion deal in February. FedEx has already obtained regulatory approval from anti-trust bodies in the EU, and the US while it is still in pursuit of a similar green signal from authorities in China. The consolidation … [Read more...] about Brazil quashes UPS appeal over FedEx’s TNT takeover
