FedEx has introduced a new service to Libya and Algeria through a network of Global Service Participants (GSPs). In Libya Fedes will work with Al Zajel Express as its GSP. Four offices have already been etablished by the GSP in the major Libyan cities to suppot cutomers across the country. In Algeria, FedEx service will be provided by GSP Falcon Express Inc, which already handles delivery services for FedEx in Jordan, Lebanon, Qatar, Syria and Yemen.
Read MoreFedEx Corporation announced today that its FedEx Express unit had signed an agreement with Tianjin Datian W. Group Co., Ltd. (“DTW Group”) to acquire DTW Group’s 50 percent share of the FedEx-DTW International Priority express joint venture and DTW Group’s domestic express network in China for USD400 million. FedEx and DTW Group entered into a joint venture agreement in 1999. JPMorgan acted as exclusive financial advisor to FedEx. PricewaterhouseCoopers acted as exclusive financial advisor to DTW Group. The acquisition will include: DTW Group’s 50 percent share in the International Priority express joint venture, converting the joint venture into a wholly FedEx-owned company; the DTW Group assets used to perform International Priority services; and DTW Group domestic express assets from 89 DTW Group locations.
Read MoreFedEx Express has announced plans to add up to 75 hybrid, diesel electric trucks to its service fleet in the next 12 months, contingent upon pricing and availability. The announcement coincided with the unveiling of two FedEx hybrid trucks in the nation’s capital on Thursday, which brought the company-wide total of hybrid trucks in use to 18.
“Placing hybrid trucks in Washington D.C., and the planned increase for next year reflects the growing viability of hybrid trucks,” said John Formisano, vice president of Global Vehicles, FedEx Express. “It also shows the commitment of FedEx to pursue the use of promising technologies that both reduce fuel costs and provide more environmentally responsive vehicles for the communities in which we live and work.”
Read MoreThe international express industry in Shenzhen, a city bordering on Hong Kong, has seen a booming prospect since some 30 home and international express companies including Fedex Express, DHL-Sinotrans, UPS, TNT, rushed to the local market.
The Shenzhen Airport has gradually become an international express logistics center in southern China, said Wang Huicheng, head of the Shenzhen Airport Customhouse.
The number of international expresses via the Shenzhen Airport Customs Monitoring Center totaled 18.899 million pieces last year, weighing 153,000 tons and valuing 10.65 billion yuan, ranking first in China for three consecutive years. UPS, one of the world’s four express giants, chartered airplanes in Shenzhen Airport for international express delivery for the first time starting from April 11, and it plans to have 24 flights a week. The takeoff of a chartered airplane means a keener competition among worlds express giants in Shenzhen.
Read MoreFedEx Express said it has made ‘no decision yet’ on whether to move its Asia Pacific hub to the southern Chinese city of Guangzhou from Subic Bay in the Philippines. FedEx said in a statement that it is still pondering various options and has yet to finalize its development plans in the Asia Pacific, despite a local media report that it had decided to move its Asia Pacific hub to Guangzhou. FedEx initially agreed in December 2003 to assess potential opportunities in Guangzhou’s new Baiyun International Airport, which is one of China’s largest airports.
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