Author: Archive

Air express sector lagging

Posted by | Jun 17, 2002 | |

Air express and heavy freight carriers have yet to show any sustainable signs of a recovery, according to one Wall Street report.
Air volumes for United Parcel Service were down approximately 5% in May, compared with the same month in 2001, according to preliminary data from the Morgan Stanley Air Express Demand Index.
While some of that decline may reflect traffic diversions due to uncertainty over United Parcel Service’s prospects for reaching a settlement with the Teamsters before the current contract expires on July 31, Jim Valentine, a Morgan Stanley analyst, said anecdotal evidence suggests industry-wide volumes weren’t much better in May and continue to lag into the month of June.

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China Express Dispute Continues

Posted by | Jun 17, 2002 | |

The deadline for resolving a months-long dispute pitting China’s postal monopoly against foreign express delivery giants has been extended to mid-August, the world’s biggest express carrier FedEx said on Monday. The spat, centred around proposed restrictions on express services that would hand the state monopoly a competitive edge during China’s first year in the WTO, previously faced a June 15 deadline, when the thorny new rules were to have taken effect. ‘I understand from unofficial sources that the submission date has been extended to mid-August,’ a Fedex spokeswoman said in a statement to Reuters. ‘We remain confident that this issue will be resolved to the benefit of our customers in China.’

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Express deliveries boom in Russia

Posted by | Jun 17, 2002 | |

Russian market of express deliveries is not big yet, but is developing rapidly. According to some express transporters, in 2001 their turnover in Russia grew by 30-40%. They explain their success primarily by revival of Russian business, because large companies use services of express delivery most often. It will be possible to improve quality of express delivery in Russia to the level of European countries only when the customs legislation and transport infrastructure of the country correspond to the same level.
Until recently services of express delivery were not in very big demand in Russia. All players of the Russian express delivery market are more or less unanimous in estimates of its volume. According to them, exports amount to $60-80 million a year and imports amount to approximately twice as much. Delivery of goods inside of Russia also earns up to one-fourth of all incomes. Thus, it is possible to estimate the Russian market roughly at $250-300 million, whereas the world turnover of the largest express transporters is counted in tens of billions of dollars a year.

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DHL invests 1.0 MLN SGD in new Singapore facility

Posted by | Jun 17, 2002 | |

DHL Worldwide Express said it has invested 1.0 mln sgd in a new facility, called North Service Centre, to strengthen its operations in Singapore.
“We will continue to invest heavily to offer the best possible services that our customers need to thrive in this competitive market,” DHL general manager Charles Chan said.
The new investment in Singapore is part of an overall investment program for Asia of over 548 mln sgd, aimed at boosting infrastructure network, vehicle fleet and workforce, and customer service in Singapore over the next few years.

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China Southern Air Acquires Stake in Postal Air

Posted by | Jun 17, 2002 | |

China Southern Airlines Co. (ZNH) is to acquire a 49% stake in China Postal Airlines for 150 million yuan [U.S.$18.1 million] (US$1=CNY8.28), a company source said Monday. The source said the two parties are to sign an agreement in Beijing Tuesday. China Southern Airlines expects to fund the acquisition with internal resources, the source said. The deal is pending Chinese government approval, the source said. China Postal Airlines, which is controlled by the State Postal Bureau of China, provides mail and parcel shipment services for mainland post offices.

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Post offices hit in MBI collapse

Posted by | Jun 17, 2002 | |

Europe’s leading post offices head a £10m ( t10.6m) creditors’ list after the collapse in March of wholesaler and lettershop services provider Mail Brokers International.
And there may be more pain to come after holding company MBI Logistics followed Mail Brokers into liquidation last month.
Royal Mail, Parcelforce, Deutsche Post, La Poste, Swisspost and UPS are all owed six-figure sums. But a former MBI member of staff – one of 60 who received no salary or severance pay last month – said it was the smaller creditors he felt sorry for.
Creditors are pressuring the UK DTI to investigate MBI’s directors, accusing them of trading while knowingly insolvent.

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German Govt to Sell More DPWN Shares in 2003

Posted by | Jun 17, 2002 | |

Finance minister Hans Eichel will sell more Deutsche Post World Net AG and Deutche Telekom AG shares next year in order to reduce new government debt to 15.5 bln eur from 21.1 bln eur, Handelsblatt newspaper reported, citing government sources. The lack of other privatisation candidates means Eichel will have to sell more shares in Post and Telekom, it said, adding that Eichel has calculated he will receive about 6 bln in privatisation proceeds in 2003.

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Deutsche Post denies report it will cut postal charges to avoid EU fine

Posted by | Jun 17, 2002 | |

Deutsche Post World Net AG said a report that it plans to reduce letter postal charges in order to avoid a hefty fine from the EU for alleged malpractice is pure speculation.
The company’s statement follows today’s report in Handelsblatt newspaper that it plans to cut prices gradually over time, thereby foregoing about 572 mln eur in revenue, to avoid an EU fine.

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