Tag: FedEx

FedEx Freight, FedEx National LTL announce general rate increase

Posted by | Dec 28, 2007 | |

FedEx Freight, a U.S. provider of regional next-day and second-day less-than-truckload (LTL) service, and a subsidiary of FedEx Corp., will implement a 5.48 percent general rate increase (GRI) effective January 14, 2008. Additionally, FedEx National LTL, the long-haul LTL company, will implement a commensurate increase for its general rates.

Rates for other operating companies within FedEx Corp., specifically FedEx Express and FedEx Ground, are not affected.

In 2007, FedEx Freight improved service standards in key markets throughout the U.S., and reduced transit times in more than 1,000 transportation network lanes. Additionally, FedEx National LTL re-engineered its network to provide long-haul shippers with higher levels of reliability and certainty. FedEx National LTL was created in September 2006 when FedEx acquired the business assets of the former Watkins Motor Lines.

Carey also noted that FedEx Freight and FedEx National LTL have taken a leadership role in the purchase of safe and more environmentally sensitive equipment. “It’s our goal to take necessary steps to benefit our employees, customers and the communities in which we live and work.”

The GRI increase will apply to interstate and intrastate traffic, and certain shipments between the United States and Mexico and Canada. Various additional adjustments will include minimum and accessorial charges, as well as adjustments in fuel surcharges and select lanes and service areas.

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FedEx Corp. Reports second quarter earnings

Posted by | Dec 20, 2007 | |

FedEx Corp. reported earnings of USD 1.54 per diluted share for the second quarter ended November 30, compared to USD 1.64 per diluted share a year ago.

Second Quarter Results

FedEx Corp. reported the following consolidated results for the second quarter:
• Revenue of USD 9.45 billion, up 6pct from USD 8.93 billion the previous year
• Operating income of USD 783 million, down 7pct from USD 839 million a year ago
• Operating margin of 8.3pct , down from 9.4pct the previous year
• Net income of USD 479 million, down 6pct from last year’s USD 511 million
Operating margin declined primarily due to the net impact of substantially higher fuel costs and continued weakness in the U.S. economy, which is limiting demand for the company’s U.S. domestic express package and lessthan-truckload (LTL) freight services. Last year’s second quarter results included USD 0.25 per diluted share net impact of costs associated with the pilot labor contract, mostly offset by the benefits from the timing of net fuel impacts and Hurricane Katrina insurance proceeds.
Total combined average daily package volume in the FedEx Express and FedEx Ground segments grew 8pct year over year for the quarter, due to growth in ground and FedEx International Priority (IP) shipments and an increase in international domestic express shipments resulting primarily from recent international acquisitions.

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Top China logistics firm eyes USD 2 bln IPO

Posted by | Dec 19, 2007 | |

China Post Logistics plans to raise over USD 2 billion in a Hong Kong and Shanghai stock market listing in 2008, sources said, amid mounting foreign competition in the booming sector.
The company, run by the state operator of the country’s huge postal system, is expected to raise at least USD 2 billion in total on both markets, though it was too early to tell how much it could rake in eventually, one of the sources familiar with the deal told Reuters.
“We do have a listing plan, but now we don’t have any timetable, maybe next year or later,” a China Post Logistics spokesman said. He declined further comment.
The state-owned logistics firm — established in 2003 with a 370 million yuan (USD 50 million) capital base — is set to balloon in size. Its parent has embarked on a plan to merge the firm with its own nationwide express mail service.
The spokesman said any listing timetable should depend on the progress of the merger, which is expected to finish in 2008.
Robust economic growth and surging foreign trade is propping up growth in China’s sprawling transportation and logistics industry.
The country’s logistics sector chalked up turnover of 53.7 trillion yuan in the first three quarters of 2007, up 25.5 percent, according to the China Logistics Information Centre.

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Ireland: Compensation made available for poor postal services

Posted by | Dec 19, 2007 | |

The ‘Complaints and Dispute Resolution Guidelines’ for postal service providers will see this implemented over 20 of Ireland’s 31 postal service providers.

Comreg yesterday issued the guidelines, which cover An Post, but also companies like Cyclone Couriers, Olympus, and Nightline, some of Ireland’s larger courier firms.

The new guidelines do not cover larger delivery firms such as Fedex, DHL and SDS, but this may change when the postal service industry is liberalised under EU laws in 2011 and is opened up to greater competition.

People can now be compensated by postal providers for delays in delivery of over seven days, damage or loss. It also says a postal service provider must display a simply explained complaint and dispute resolution procedure.

This will lay out the timeframe for a complaint to be made, a timeframe for receipt of answer and a guideline to compensation payable, which can be paid back in either cash or a number of stamps.

Comreg has brought in these regulations with the aim of maintaining into the future a “confidence to postal consumers that the postal industry maintains consistent complaints and redress standards”.

The company will have to refund costs and also pay compensation if it is found to be at fault.

The only time these guidelines do not apply is in the case of any form of industrial relations issue, such as a postal strike.

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ANA in challenge to DHL and FedEx

Posted by | Dec 18, 2007 | |

All Nippon Airways plans to challenge DHL and Federal Express in Asia by joining forces with two Japanese transport groups to launch a door-to-door express parcel service.
The airline will take a 34 per cent stake in the venture, targeting business-to-business customers, according to a memorandum of understanding signed yesterday.
Nippon Express, the general transport company, and Kintetsu World Express will each take a 28 per cent share while other forwarding groups will take the remaining 10 per cent.
The venture is to begin operating next April. The name and total investment have not been decided.
The business will use a freight hub developed by ANA on Okinawa, close to mainland China. ANA will provide aircraft, while Nippon Express and Kintetsu will contribute ground-based logistics.
European and US delivery groups dominate the Asian express parcel market and are adding infrastructure. Germany’s DHL, which leads with about a one-third share, said last month it would build a USD 175m north-east Asian hub in Shanghai.
Second-ranked Federal Express opened a Chinese domestic hub this year and plans to shift its Asia-Pacific centre from Subic Bay in the Philippines to a larger facility in Guangzhou in 2009.
Satoru Aoyama, analyst at Fitch Ratings, said a challenge for the ANA venture would be to draw custom from outside the three partners’ roster of Japanese clients.
“To challenge the big companies they will need to invest heavily,” he said

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