European Union antitrust regulators have found no objections to FedEx's €4.4 billion (US$5 billion) acquisition of TNT Express, the two companies said on Tuesday. "FedEx and TNT have been informed by the European Commission that no Statement of Objections will be issued. FedEx and TNT continue to expect that the Offer will close in the first half of calendar year 2016,” the companies said in a joint statement. With a European market share of 17 per cent, the combined company would be Europe's … [Read more...] about No EU antitrust objections to €4.4 billion FedEx, TNT merger
UPS
UPS expands services to 13 more cities in China
UPS has expanded its presence in 13 additional cities – in Jiangsu, Shandong, Zhejiang, Guangdong provinces, and in Chongqing Municipality – as part of its long term growth strategy in China. UPS said it has enhanced its services by improving transit times, extending cut-off times to tender shipments and deploying UPS knowledge and expertise. Customers in these cities will now have direct access to UPS's full portfolio of services, innovative technology solutions, first-in-class global … [Read more...] about UPS expands services to 13 more cities in China
Qatar breaches cargo Top 10, SIA and China Eastern slip
In 2014 airlines operated some 100,000 flights per day and transported 51.3 million tonnes of cargo, equivalent to around 35 per cent of the total value of all goods traded internationally, according to figures released on 16 September by the International Air Transport Association (IATA) in its 59th annual World Air Transport Statistics (WATS) report. Globally, cargo markets in 2014 saw a 5.8 per cent expansion in freight tonne kilometres (FTKs), outstripping a capacity increase of 5.0 per … [Read more...] about Qatar breaches cargo Top 10, SIA and China Eastern slip
UPS, FedEx not changing course on hunting trophies
The shipment of big game hunting trophies is still acceptable to UPS and FedEx with a UPS spokeswoman telling The Washington Post that the global shipping giant follows US and international laws, not public opinion, in determining what it will and won’t ship. “There are many items shipped in international commerce that may spark controversy,” UPS public relations director Susan Rosenberg wrote in an e-mail reply to The Post. “The views on what is appropriate for shipment are as varied as the … [Read more...] about UPS, FedEx not changing course on hunting trophies
UPS confirms $1.8 billion Coyote acquisition
UPS has announced that it has entered into a definitive purchase agreement to acquire Coyote Logistics, a technology-driven, non-asset based truckload freight brokerage company for US$1.8 billion from its current owner Warburg Pincus. The US express and logistics giant said it expected to close the deal within 30 days to acquire Coyote, which was founded in 2006 and reported annual revenue of $2.1 billion in 2014. David Abney, UPS CEO said: “The brokered full-truckload freight segment is a … [Read more...] about UPS confirms $1.8 billion Coyote acquisition
UPS in talks to buy US-based Coyote Logistics
US express delivery company United Parcel Service Inc (UPS) is said to be in talks to buy Chicago-based Coyote Logistics LLC for at least US$1.8 billion, according to a Reuters report quoting a source familiar with negotiations. According to the report, Coyote is backed by Warburg Pincus, the New York-based private equity firm, which may instead opt for an initial public offering as a way to sell its stake in the transportation logistics services provider. Coyote coordinates the movement of … [Read more...] about UPS in talks to buy US-based Coyote Logistics
