Tag: UPS

UPS to raise cap on air fuel surcharge

Posted by | Sep 2, 2005 | |

UPS today announced plans to raise its cap to 12.5% on the fuel surcharge applied to UPS Next Day Air®, UPS 2nd Day Air® and UPS 3 Day Select® and U.S. international air services beginning Oct. 3. A fuel surcharge on UPS Ground services is unaffected and continues to fluctuate monthly based on the U.S. Energy Department’s On-Highway Diesel price. It will stand at 3% in September.
UPS introduced a 9.5% cap on the fuel surcharge for its premium Air services in January of this year after prices began advancing rapidly toward the end of 2004. Since that time, jet fuel prices have increased more than 60%.

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Deutsche Post could face a bid battle with UPS

Posted by | Sep 2, 2005 | |

Deutsche Post may have made the first move on Exel but it is unlikely to be the sole bidder. UPS, the US package delivery company, and TPG, the Dutch logistics group, have also been touted as possible bidders. Alastair Gunn, analyst at Arbuthnot Securities, says: “Whether it is Deutsche Post who ends up with Exel, is doubtful. I think UPS is likely to outbid them.” He adds: “In terms of other companies coming in, nobody else can compete. It would be a waste of management time and energy.” An acquisition of Exel by UPS would underline the Atlanta-based company’s ambition to increase its presence in Europe, where it is challenging the dominance of DHL, owned by Deutsche Post, and TNT, owned by TPG.
UPS has become increasingly reliant on international revenues, especially in Europe and Asia, to offset slowing growth and increasing competition in the US.

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UPS among first to deploy new customs security technology

Posted by | Aug 29, 2005 | |

UPS today announced it has become one of the first transportation carriers to deploy a trade processing system developed by U.S. Customs and Border Protection (CBP) that accelerates cross-border commerce while improving security at the nation’s borders. The Automated Commercial Environment, or ACE, is part of a multi-year modernization effort by the CBP that automates the flow of information about packages approaching U.S. borders in trucks, making it easier for customs agents to decide what they wish to inspect. UPS worked with CBP to pilot the program in Blaine, Wash., the first land port to transition to the new system.

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UPS orders eight Boeing 747-400 freighters

Posted by | Aug 17, 2005 | |

As part of its on-going effort to accommodate strong international volume growth, UPS today announced a firm order for eight new Boeing 747-400 freighters from Boeing Co. Terms of the deal were not disclosed. Deliveries of the 747-400’s will begin in June 2007 and run through 2008. UPS has selected General Electric to provide engines for the new aircraft. “These Boeing 747-400 freighters will allow UPS to smoothly increase capacity on its most important international ‘trunk’ routes connecting Asia, Europe and North America,” said Bob Lekites, UPS vice president of airline and international operations.

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UPS completes acquisition of Overnite

Posted by | Aug 5, 2005 | |

UPS today announced it has completed the acquisition of Overnite Corporation for USD43.25 per share, or approximately USD1.25 billion in an all-cash transaction. Overnite shareholders approved the transaction yesterday. Based in Richmond, Va., Overnite reported net income of USD63.3 million in 2004 on revenue of USD1.65 billion. The carrier serves more than 60,000 customers in the less-than-truckload (LTL) and truckload (TL) segments. It has operations in the U.S., Canada, Mexico, Puerto Rico, Guam and the U.S. Virgin Islands.

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