Shares of Memphis-based FedEx Corp. hit a 52-week high on Monday, at USD81.78, before closing USD1 lower, still above the previous 52-week high of USD80.43. Monday’s closing price of USD80.78 was up by 95 cents, or 1.19 percent, above Friday’s close of USD79.83.
Read MoreAssociations representing privately-held transport and logistic operators said they called on the European Commission this morning to stamp out unfair subsidies to their publicly-owned counterparts and to put an end to the misuse of those subsidies. In particular, the associations are concerned about state subsidies to Deutsche Post AG’s unit DHL, Belgium’s SNCB’s ABX Logistics, La Poste’s GeoPost and SNCF’s road haulage unit Sernam. Two associations – Germany’s Wettbewerbsverein and France’s HALTE – said they asked the commission to beef up regulations and implementation and to take a proactive role towards state aid, putting an end to ‘unjustifiable competitive advantages’ enjoyed by the public companies. The commission is already examining two cases in this area.
Read MoreDeutsche Post AG’s express courier unit DHL said it has increased its Shanghai-Hong Kong freight service to five times per week from the previous four due to robust growth in demand. Meanwhile, DHL has also boosted its Shanghai-Hong Kong capacity by 60 pct by using an A300B4 freighter with a capacity of 35 tons, it said in a statement. DHL launched the Shanghai-Hong Kong service last June. It offers 800 flights per day in the Asia Pacific region serving 24 destinations in 15 countries.
Read MoreEuropean customers of DHL Solutions’ logistics service now can call on the company to handle their radio-frequency identification tagging requirements. DHL this month expanded to companies across Europe its TagFIT RFID service, which it had been offering only to Metro AG’s top 100 suppliers to help them meet the retailer’s RFID-compliance mandate. Once there’s agreement on global RFID standards, DHL hopes to roll out the service to North America and China, too. “Our goal is to become the core logistics supplier for RFID services worldwide,” says Clemens Beckmann, managing director of corporate development at Deutsche Post World Net, DHL Solutions’ parent company.
Read MoreDHL, the express delivery subsidiary of German postal service operator Deutsche Post, intends to invest around USD1.2bn in the US in order to challenge US competitors Fedex and UPS. The money will be invested in DHL’s distribution network, IT system, logistics centres and marketing activities. DHL and Airborne, Deutsche Post’s US air express delivery subsidiary, have a market share of around 6 per cent in the US, while UPS and Fedex control roughly 70 per cent of the market.
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