Topic “freight” — Exporter Magazine

US’ second largest package shipping giant FedEx has reduced its full-year forecast despite its first quarter net profit from June to August increase 22% to USD$464 million drawn on revenues of $10.52 billion, according to the Shipping Gazette A record surge in trade between Asia and Africa to as much as USD$1.5 trillion by 2020 is prompting companies including AP Moeller-Maersk A/S and Deutsche Post AG (DPW) to expand shipping links between the continents, according to Bloomberg. FedEx Express has opened its largest station in Shanghai which is one of the fastest growing economies in China, totalling US$207.89 billion in imports and exports, up 21% year on year, according to the Shipping Gazette. UPS has started offering a new ocean freight service that promises up to 20% faster door-to-door delivery than other less-than-container-load (LCL) services on the market, according to the Shipping Gazette.