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...That was partially offset by a 67 per cent year-on-year increase in operating income in the FedEx Freight division, driven by higher fuel surcharges....
...The lower ocean freight prices have also cut demand for air freight, an expensive alternative for companies hurrying to secure supplies: air rates this September are half what they were this time last year...
...The rival of FedEx and UPS, which grew out of the privatisation of Germany’s mail service, employs almost 600,000 people in 220 countries....
...Germany’s DHL and Swiss freight broker Kuehne + Nagel said they would halt all shipments to Russia apart from food and medicines, following similar decisions by rivals UPS, FedEx and DPD....
...The company said its first-quarter results were affected by a $450m year-on-year increase in costs tied to labour shortages, including higher wages and was partially offset by higher package and freight...
...This in turn is exacerbating the supply chain crisis, pushing up freight costs and prices for consumers....
...Some airlines have switched to flying cargo and dedicated air freight companies such as FedEx and DHL have picked up some of the slack....
...FedEx said it would make changes allowing it to double the volume of cargo moving out of ports at night....
...The letter, seen by the Financial Times and first reported by Reuters, was signed by the largest US carriers as well as the air freight arms of two of the biggest logistics groups, UPS and FedEx....
...Labour shortages in other parts of the supply chain — including trucking, warehouses and rail freight — are impeding the movement of goods too....
...Last month, logistics company FedEx moved to shut its crew base in Hong Kong and relocate staff overseas....
...ports and private sector groups such as retailers and freight companies....
...Wincanton, Clipper and DX are largely domestic and face fierce competition from all sides, whether locally or from the likes of US-listed UPS or FedEx....
...The looming jump in the numbers of doses being shipped and administered is likely to put pressure on freight carriers, health departments and hospitals....
...Germany’s DHL and Swiss freight broker Kuehne + Nagel on Wednesday followed UPS, FedEx and DPD in halting all shipments into Russia apart from foods and medicines....
...You might cynically posit that clearing logjams is of only tangential interest to the world’s alliances of shipping companies, given that freight rates have tripled....
...FedEx, which has a global network spanning 680 aircraft, 200,000 vehicles and 600,000 employees, also carried 6.2m pounds of freight daily through its “International Priority” freight service — 19 per cent...
...With ships from Asia waiting 12 to 15 days to unload and domestic freight carriers such as Union Pacific and FedEx accelerating peak season surcharges by months, “we don’t foresee the inventory catching...
...Cargo-only airlines such as DHL and FedEx have picked up the slack where they can, and many airlines have converted their jets into makeshift cargo planes....
...The White House said it had secured pledges from private sector heavyweights such as Walmart, UPS and FedEx to extend their working hours....
...In contrast, the two largest current shareholdings, FedEx and Kansas City Southern, are likely to be cut back from almost 12 per cent of the portfolio apiece to 4.4 per cent and 4 per cent respectively,...
...of UPS and FedEx, according to a report....
...US president Joe Biden has persuaded Walmart, UPS and FedEx to extend their working hours to ease the country’s supply chain woes....
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