Tag: Worldwide

FedEx gets more flights to China

Posted by | Aug 31, 2006 | |

FedEx Express announced on Wednesday that it was granted permission by the U.S. Department of Transportation to start additional weekly flights to China, bringing its total to 30.

The additions, which will go into effect in March 2007, will allow FedEx Express to operate more all-cargo flights to and from China than any other U.S. airline, the company said in a released statement.

FedEx Express is the cargo airline division of FedEx Corp., operator of the world’s largest express transportation company.

FedEx Corp. earlier this year announced a $400 million agreement to boost its presence throughout Asia by taking full control of a 50-percent joint venture begun in 1999 with the Tianjin Datian W. Group.

The joint venture handles international package shipments to and from China, and FedEx’s partner, which goes by the name DTW Group, also operates a domestic delivery network with 89 locations in cities across China.

Memphis-based FedEx said it hopes to complete the acquisition during its 2007 fiscal year, which began in June. The operation will become part of FedEx Express.

Shares of FedEx rose 42 cents to close at $100.54 on the New York Stock Exchange Wednesday.

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Firms urged to make the most of new postal charges

Posted by | Aug 30, 2006 | |

As part of the new pricing structure, the price of 1st class post for meter users has been reduced by 1p and now costs 30p, rather than the previous price of 31p or the 32p for stamped mail. To take advantage of the discount, all customers need to do is reset their machines.

Royal Mail’s Lorna Clarkson said: “We always remind users to reset their meters when there is a tariff change, and this time is particularly important if business customers are to get a share in the £30 million price reduction.”

While it is important that all businesses check their meters have been reset, it is particularly important for smaller businesses that use manual franking machines.

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China's ZJS Express upgrading ahead of Hong Kong IPO

Posted by | Aug 30, 2006 | |

ZJS Express Co Ltd, a Beijing-based private courier service, is upgrading its operations and management prior to an initial public offering planned for the second half of 2007 in Hong Kong, said company chairman and president Chen Ping.

ZJS Express plans to raise up to 200 mln hkd via its Hong Kong listing but prior to going public is investing in new technology and doubling its branch network.

After the company completes its restructuring and listing, it will significantly narrow the gap in operational quality with major global players who have entered the Chinese market, Chen told XFN-Asia in an interview.

‘The international express firms currently have weak networks in China and operate on higher costs compared with ZJS. We should take this opportunity to further sharpen our competitive edge,’ he said.

ZJS Express’ volume is expected to increase from more than 35 mln items in 2005 to about 50 mln this year, according to Chen.

Earlier this year, the company said that it plans to invest around five mln yuan to expand its network, increasing the number of outlets to over 800 across the country from more than 400.Among measures to improve operational efficiency, the company will separate its contract logistics operations for corporate customers — 40 pct of its revenue — from services provided for individuals. It will also increase administrative staff at its Beijing headquarters by 52 pct to reinforce management, said Chen.

Chen said the firm will also implement personal digital assistants (PDA) and in coming months buy more equipment including automated picking and sorting systems, logistics vehicles and roll containers.

‘We are not short of money for these two years (2006 and 2007). In addition, we will soon obtain additional funds for future development from the Hong Kong IPO,’ said Chen.

The company had a net profit of around 60 mln yuan last year on total revenue of about 600 mln yuan.

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Deutsche Post says it will remain majority shareholder in Postbank

Posted by | Aug 30, 2006 | |

Deutsche Post AG plans to remain a majority shareholder in Deutsche Postbank AG for the forseeable future, a Deutsche Post spokesman said.

‘We intend to remain a majority shareholder in the forseeable future. (Chief executive) Mr (Klaus) Zumwinkel had said that in an interview over the weekend and I would like to reiterate that,’ the spokesman said.

The spokesman said he would not comment on German media ‘speculation’ that a number of banks were interested in buying Deutsche Post’s 50.1 pct stake in Postbank.

Die Welt newspaper, citing Deutsche Post sources, said that Unicredito Italiano SpA and Royal Bank of Scotland have both expressed an interest in the acquisition of Deutsche Post shareholdings in Postbank.

It said that Deutsche Post is not ready to sell its 50.1 pct interest in Germany’s largest retail bank but suggested it might do in the future.

Last week, German media suggested that Deutsche Bank AG was keen to buy Postbank.

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DHL expanding in Pattaya

Posted by | Aug 30, 2006 | |

The express and logistics company DHL has opened its second retail branch in Thailand in Pattaya.

The opening of the Pattaya branch follows the good response to the launch of the first retail outlet in March on Silom Road in Bangkok’s central business district, said Herbert Vongpusanachai, the managing director of DHL Express International (Thailand) Ltd.

He said the opening of the Pattaya outlet, located at Thip Plaza on Pattaya II Road, would ensure that the company was well-positioned to support customers’ needs with its internationally recognised service reliability.

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