Tag: TNT

TNT applies for EU's new AEO status for priority treatment at customs

Posted by | Jan 24, 2008 | |

TNT NV said it will apply for EU authorised economic operator (AEO) status, which will allow it to receive priority treatment at European customs when agents inspect shipments.

The new standard, launched Jan 1, is accompanied by increased border control, with the aim to increase security in the international supply chain and to modernise EU customs procedures.

The status gives companies the right of access to simplified procedures.

TNT said: ‘The AEO standard is to express carriers what the green ‘nothing to declare’ line is to individual passengers: a fast-moving and formality-light solution. The officials may inspect your luggage, but normally they won’t.’

The company says it is the first of the main express-services companies to apply for the status.

It said its TNT Post unit applied for the status as a pilot in the Netherlands in December, and now its flagship air hub in Liege is applying for AEO status with the Belgian customs authorities.

The European Commission said although each company must apply for the status with each individual country, it only has to complete the paperwork for the first application. The other countries are expected to grant the status without requiring the process to be repeated.

TNT said it will soon apply for the status for its main operations in the Netherlands as well as in Germany, Ireland and the Czech Republic, with all other EU countries to follow by the middle of the year.

The company said it is providing the authorities with a comprehensive self-assessment, which should allow them to process the application within 90 days instead of 300, and expects to receive full EU-wide accreditation by mid-2009.

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Deutsche Post plans EUR 600 million writedown in U.S.

Posted by | Jan 23, 2008 | |

Deutsche Post AG said it will write down the value of its DHL Express unit’s Americas division as it struggles to compete with United Parcel Service Inc. and FedEx Corp.

Deutsche Post will write down 600 million euros (USD 874 million) of assets such as aircraft, trucks and office equipment, reducing 2007 net income, Chief Financial Officer John Allan said on a conference call. The move won’t affect Deutsche Post’s plans to raise the dividend by 20 percent, he said.

Deutsche Post last year scrapped a 2009 deadline for DHL to break even in the Americas, and some investors have called for the Bonn-based company to shed the unit. The carrier’s willingness to keep the business on its books suggests it plans to stay in the U.S. market, said Tim Sailor, principal of Navigo Consulting Group, a Long Beach, California-based firm that advises parcel shippers.

The decision will disappoint investors who want DHL to sell the unit, Damian Brewer, an analyst at JPMorgan Chase & Co. in London, said in a note to clients.
The postal service bought the business in 2002 to expand its express-parcel delivery network and compete with Atlanta-based UPS and Memphis, Tennessee-based FedEx in their home market.

Deutsche Post yesterday reiterated plans for a 2007 dividend of 90 euro cents a share.
The postal service will contract with other companies to handle some information-technology operations, leading to savings of at least 1 billion euros over seven years, Allan said today. Details of the plan, including the contractor, will be released tomorrow.

Deutsche Post announced plans last November to raise at least 1 billion euros from the sale of property to raise cash and attract investors. The postal service has generated more than 350 million euros of that amount so far, Allan said.

Shares fell 0.86 euro to 20.22 euros in German trading. UPS rose 5.6 percent today in New York trading, the most in more than six years, while FedEx climbed 4.8 percent, the most since September 2005.

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TNT lodges lawsuit against German state in dispute over minimum wage

Posted by | Jan 23, 2008 | |

TNT NV has lodged a lawsuit with a Berlin commercial court in a bid to have the alternative minimum wage it is paying its German-based workers to be declared valid in a dispute the Dutch postal company is locked in around the liberalisation of the German postal market.

TNT is paying its German workers 7.50 eur per hour and has filed the lawsuit against the German Finance Ministry and the Social Affairs Ministry, TNT spokesman Pieter Schaffels said.

Schaffels added that by implication, the lawsuit will also affect the minimum wage of 8-9.80 eur that Deutsche Post AG has already agreed on with trade union Verdi.

TNT claims legislation by the German Parliament imposing the minimum wage at the level paid by Deutsche Post on the national postal market is hindering liberalisation of the German market, stressing that only Deutsche Post can afford to have the minimum wage set at that level.

The Dutch postal group pointed out that, unlike its rivals, Deutsche Post enjoys a VAT exemption for 40 pct of its operations in Germany.

TNT is currently active in the value-added branch of the German postal market — where it sends letters picked up after 5 pm and delivers them by midday the following day — and has a minimum wage of 7.50 eur.

It had initially planned to compete with Deutsche Post in the universal sector from Jan 1, but has postponed any further investment in the German market.

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TNT Launches New Morning Delivery Service

Posted by | Jan 21, 2008 | |

Adding a new time-guaranteed service – ’10:00 Express’ to the existing ‘9:00 Express’ and ’12:00 Express’ and ‘Express’ service, TNT puts a strong emphasis on morning deliveries and now offers more morning delivery services.

The ’10:00 Express’ provides customers with a genuine ‘first-thing’ service for organisations that don’t open until 9am, saving half-an-hour at the most important time of the day.

With the new offering, TNT recognises a universal customer need for guaranteed morning delivery, more choice of services and less complexity through service alignment.

Stuart Stobie, Divisional Managing Director, TNT Express UK, said: “We’re determined to ‘own the morning’ in the worldwide express delivery market by offering the widest range of delivery options of any carrier. This new ’10:00 Express’ service is crucial as very often time is the most precious commodity in business, and if we can give our customers more of it, we are on the road to success.

TNT conducted extensive research involving 7,500 express service users in key markets around the world. The results demonstrate that, apart from speed, weight and coverage capabilities, customers expect convenience, reliability and control from their provider of express services. TNT’s new range of services directly answers these requirements.

Drawing on TNT’s fully integrated air and road network infrastructure, the new service portfolio offers greater geographical coverage for deliveries by 9:00, 10:00 and 12:00 to more cities and business locations worldwide than before.

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CEVA Logistics selects IT2's Treasury Management System

Posted by | Jan 21, 2008 | |

IT2 Treasury Solutions announces that CEVA Logistics, the global supply chain management company, has selected the IT2 Treasury Management System as its cash and treasury management technology solution.

CEVA combines two logistical companies, TNT Logistics and EGL Eagle Global Logistics, which merged in August 2007. CEVA employs around 52,000 people, and operates an extensive office network with facilities in 151 countries. Its sales turnover in fiscal 2006 was EUR 6 billion. CEVA is an un-listed company, owned by affiliates of Apollo Management, L.P., one of the leading private equity investors in the world.

CEVA Logistics, located in Amsterdam, the Netherlands, was divested from TNT, and was therefore without any existing treasury operation and system. CEVA’s new treasury team selected IT2 to provide a best practice solution, which will initially support FX and interest hedging, cash & liquidity management and guarantee management. IT2 will also handle CEVA’s cross currency / cross border cash pool arrangement.

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