Salvesen reports loss, slashes divi
Salvesen reports loss, slashes divi
Read MoreMonth: June 2003
Parcelforce optimistic despite losses
The UK Royal Mail’s parcels arm, Parcelforce Worldwide, continued to haemorrhage money in the year to March, doubling its losses to £187m (t261.8m).
Parcelforce, which in the last year has completed its transformation to an express-only service for time-guaranteed deliveries, is continuing to eliminate its unprofitable products and inefficient operations, although progress has not been as rapid as in mail operations. But Allan Leighton, Royal Mail chairman, said Parcelforce remained on course to break even in 2004/2005 after 10 years of losses.
TNT Express, Sinotrans Dissolve JV in China
TNT Express, the world’s leading business to business express carrier confirmed today that it is committed to its operations in China following the expiry of its joint venture with Sinotrans. Both TNT Express and Sinotrans have decided to pursue their own plans in China and as a result took the decision not to renew their partnership.
Read MoreDeutsche Post fails to appease UPS
US-based United Parcel Service (UPS), the world’s largest express forwarding group, is still refusing to withdraw its legal complaint against Deutsche Post, the German postal and logistics group, on grounds of unfair competition, in spite of the announcement by the German company that it is to sell its shares in US airline DHL Airways, which is to be renamed Astar Air Cargo by its new owners.
Read MoreDHL and union dispute continues
DHL reported that the company had no problems at its Brussels hub following a brief strike by air-cargo handlers, but the International Transport Workers Federation accused the express carrier of using coercive tactics against union members. DHL spokesman Xavier de Buck said the company sorted its normal volume of 850 tons. “We were fully operational,” he said. However, about 15 employees were sent home because they refused to work, de Buck said. They will be paid because “we don’t want to escalate potential problems. We’re trying to cool things down.” De Buck also said there were no problems at DHL facilities elsewhere in Europe.
Read MoreDHL Express to launch cargo route with Dragonair
Courier DHL Express said it will launch an overnight air-cargo route between Hong Kong and Shanghai with Hong Kong Dragon Airlines. Dragonair, whose passenger business has been devastated by SARS, will operate the service Mondays through Thursdays on an A330-300 passenger aircraft with a freight capacity of 22 metric tonnes.
Read MoreUS urges Congress to ease airline ownership limits
Transportation Secretary Norman Mineta urged Congress on Monday to approve a plan to ease limits on foreign ownership of U.S. carriers to give struggling airlines greater access to capital. In a proposal submitted last month to lawmakers considering omnibus aviation legislation, the Bush administration sought approval to raise the limit on how much of a U.S. airline’s voting stock can be held by a foreign entity from 25 percent to 49 percent. But the proposal would not let foreign investors control a U.S. airline, continuing a policy supported by many members of the House of Representatives and Senate who are concerned too much foreign influence would run counter to U.S. interests.
Read MoreUS negotiated service agreement gets stamp of approval
In a precedent setting move, the U.S. Postal Service Governors today approved the first Negotiated Service Agreement (NSA), a pricing strategy that gives business mailers a mechanism for customized rates and services that addresses their unique mailing needs and encourages cost-efficient behavior. The first NSA features discounts for Capital One First-Class Mail volume above an annual threshold of 1.225 billion pieces and electronic return of undeliverable mail data by the Postal Service to Capital One. “Historically, providing price incentives for mailers to encourage more mail volume and best practices has made it possible for the Postal Service to keep rates affordable for everyone. As we build towards the future, pricing innovations like NSAs will help the Postal Service preserve universal mail service which is fundamental to the American way of life,” said Stephen Kearney, vice-president, Pricing and Classification, U.S. Postal Service.
Read MorePost & Parcel Magazine
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.