TNT Express changes strategy after massive losses in 2011

Feb. 22 | Netherlands-based TNT Express said it plans to concentrate on its core European market, which accounts for nearly 70 percent of its revenue, after registering a net loss of US$225 million in the last quarter of 2011 from a net income of $5.2 million in...

Poor infrastructure undermines Cai Mep-Thi Vai ports in Vietnam, says report

Feb. 22 | The Cai Mep-Thi Vai area in the southern province of Ba Ria-Vung Tau boasts more than 50 seaports but is having difficulty attracting container ships to dock, reported Vietnam News Brief Service. According to the Vietnam Port Association (VPA), the total...

12 countries propelling Asia-Pacific transport and logistics growth

Feb. 22 | Twelve countries in Asia-Pacific will play a key role in boosting the growth of the region’s transportation and logistics market despite global economic uncertainties, an official from Frost & Sullivan predicted. Over the next five years, 12 countries—Hong...

PH international air cargo up 20% in 2011

Feb. 22 | The Philippines’ international air cargo volume increased 20% in 2011, thanks mainly to the import sector’s strong showing. According to the Civil Aeronautics Board (CAB), throughput reached 282.497 million kilograms (kg) compared to the previous...

Automated export system at Philippine ecozone agency mandatory by Mar 15

Feb. 22 | The mandatory implementation of the Philippine Economic Zone Authority (PEZA) expanded Automated Export Declaration System (E-AEDS) will take effect on March 15, 2012. Under PEZA Memorandum Order 2012-002 signed by PEZA director general Lilia de Lima...

Improved infrastructure to help boost foreign trade

Feb. 22 | An exporting country like the Philippines needs to continue improving its transport and logistics infrastructure to seize new opportunities in global markets. This is according to Gilberto M. Llanto, a senior research fellow at the Philippine Institute...

Agreement to help push PH exports to Japan

Feb. 22 | The Philippines must continue to ride on opportunities offered by its only bilateral agreement signed so far, the Philippine-Japan Economic Partnership Agreement (PJEPA), to continue to attract Japan to buy from the Philippines. Kenichiro Koreeda of the...

Maersk Line slashes capacity on Asia-Europe trade by 9%

Feb. 20 | Maersk Line, the world’s largest container shipping company, is cutting its vessel capacity on the Asia-Europe trade by 9 percent, citing the oversupply of container vessels on the lane for pushing its container freight rates to unsustainably low levels. “With...

Hong Kong air cargo traffic down 17% in January

Feb. 20 | Cargo throughput at the Hong Kong International Airport declined 17.5 percent to 275,000 tonnes in January this year against January 2011 owing to sluggish seasonal demand during the Chinese New Year, a company statement on February 19 said. Exports dropped...

TNT Express rejects proposed $6-B acquisition bid by UPS

Feb. 20 | Dutch package shipper TNT Express has rejected a EUR4.9 billion ($6.45 billion) acquisition bid from U.S. rival United Parcel Service (UPS), even as both companies said that discussions between the two parties “continue.” UPS, the world’s largest...