Tag: Courier/Express/Parcels

China regulators penalize FedEx over letter deliveries

Posted by | Oct 23, 2008 | |

The State Post Bureau said local regulators in the city of Tianjin and in Sichuan province imposed penalties on China units of FedEx Express earlier this month for delivering letters, in violation of the China Post Group’s legal monopoly.
The bureau said in a statement that the Tianjin regulator imposed unspecified “administrative penalties” while the Sichuan regulator fined the local branch of FedEx 3,000 yuan.
China opened its domestic express market to foreign competition at the end of 2005 in accordance with promises made on entering the WTO. However, postal law still restricts letter delivery to China Post Group
The penalties are the first to be levied against a foreign express courier.
“FedEx is currently working with the authorities to ensure full compliance with local laws and regulations. We are not at liberty to discuss details,” said a media officer with FedEx China.

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Fedex Ground says drivers are independent

Posted by | Oct 23, 2008 | |

Shipping company FedEx Ground repeated its claim that its drivers were independent contractors after the U.S. government dropped a large tax claim against it.
The Internal Revenue Service withdrew a USD 319 million tax claim against FedEx Ground Wednesday, the Memphis, Tenn., Commercial-Appeal reported.
The company said it was “pleased” with the decision, which was based on the 2002 tax year and included possible interest penalties on top of the base sum of USD 319 million.
“We continue to believe that FedEx Ground’s owner-operators are independent contractors and that no loss is probable in this matter,” company spokesman Maury Lane said.
“This is huge,” said industry analyst Art Hatfield of Morgan Keegan.
“Basically the federal government is saying these people are not employees. I think it’s very substantial for the government to come out and say, ‘We’re withdrawing this.'”
“It’s an admission their premise was wrong,” Hatfield said.

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TNT sets up new gateway at Osaka Kansai International Airport

Posted by | Oct 23, 2008 | |

TNT announced the opening of its new International Gateway at Japan’s Osaka Kansai International Airport. The TNT International Gateway in Osaka Kansai will not only strengthen the express service capability of TNT’s Northeast Asian International Express Network, it will also shorten the transit time for deliveries into Osaka, from China by one day.
TNT customers will now be able to enjoy the one-stop comprehensive express delivery service between China and Osaka, one of Japan’s key manufacturing hubs, in the shortest possible time. Consignments, leaving Shanghai and other Chinese coastal cities, can now be delivered directly to Osaka Kansai. This time saving is crucial for TNT customers mainly in the electronics and apparel/ textile industries, where time critical deliveries remain one of its most important competitive advantages.
At the same time, Vietnam which has been poised as one of Asia’s key manufacturing economies and is one of the fastest growing exporting countries to Japan in Asia, will also benefit from the shortened transit times to Osaka Kansai.

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UPS releases 3rd quarter results

Posted by | Oct 23, 2008 | |

UPS reported diluted earnings per share of USD 0.96 for its third quarter on a 7.4pct increase in revenue. This represents an 8.6pct decline from the USD 1.05 per share reported on an adjusted basis for the comparable 2007 quarter. The company’s international and supply chain businesses demonstrated strength despite a challenging global economic environment.
Unadjusted diluted earnings per share of USD 1.02 for the 2007 third quarter included a restructuring charge and related expenses for a supply chain business in France. Diluted earnings per share for this year’s third quarter declined 5.9pct compared to this amount.
“UPS managed the business well in this very tough economic climate,” said Scott Davis, UPS’s Chairman and CEO. “We continue to see growth in our international and supply chain businesses while maintaining our focus on cost control and revenue management throughout our organization. UPS also is investing to ensure growth in the future so that the company will be even stronger when the global economy rebounds.”

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Royal Mail: Half year trading statement 2008-09 (UK)

Posted by | Oct 23, 2008 | |

Royal Mail Group’s operating profit more than doubled from GBP 86 million to GBP 177 million in the first half of the 2008-09 financial year compared to the same period the previous year despite a further fall in mail volumes, the company announced today.

The strong financial performance came alongside a rise in customer quality of service with the most recent figures showing the vast bulk of mail hitting or exceeding its targets.

Operating profit grew by GBP 91 million in the first half of the year compared to the same period last year. The company’s continued focus on reducing overheads as competitive and economic pressures mount played a significant role in the financial uplift with reductions in IT and other costs in the Post Office network and efficiency gains in the Royal Mail Letters business.

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