Logistics global news round-up: FedEx, AD Ports Group
FedEx annual economic report marks $80bn contribution
FedEx’s annual economic impact report shows the company has contributed an estimated $80bn to the global economy, despite recent economic pressures. region. The study found that with
its extensive network, FedEx Express contributed 0.3% of net economic output in the transportation, storage, and communications sector.
Among specific AMEA industries, it indirectly contributed an estimated $1bn to the $9 trillion manufacturing sector, the company claims.
Other headline finding include:
- FedEx spent $3.7bn with suppliers in the AMEA region.
- The number of small-business jobs supported by FedEx supply chain spending increased most in AMEA and Europe, with both regions recording a 19% increase.
- FedEx Express announced plans to invest in additional capacity by establishing the new South China Operations centre in Guangzhou. FedEx opened several new facilities in the region, including a new pickup, delivery, and self-pickup/drop-off station in Taiwan; a new warehouse in Batam, Indonesia; and a new domestic hub in Adelaide, Australia that also supports international air freight shipments.
Raj Subramaniam, FedEx President and CEO says the report “underscores our significant contributions to the economy and dedication to making a positive difference in the communities where we operate”.
AD Ports Group report colossal Q3 revenue growth
AD Ports Group has reported Q3 year-on-year (YoY) revenue growth of 189%, to $1.15bn.
The drivers of this strong growth were logistics (564% YoY growth), maritime and Shipping (564%), ports (264%, and economic cities & free zones (71% & 20%).
The company recently acquired global transport and logistics solutions company Noatum Logistics, as well as Karachi Gateway Terminal, which has contributed to these results.
Captain Mohamed Juma Al Shamisi, MD and Group CEO of AD Ports Group, said: “This remarkable growth is underpinned by our strategic M&A activities, and our strong relationships with diverse local economies, looking beyond traditional terminal operations and toward collaborations.”
- For further insight check out the latest issues of Supply Chain Magazine, Procurement Magazine & Sustainability Magazine
-------
BizClik is a global provider of B2B digital media platforms that cover executive communities for CEOs, CFOs, CMOs, and leaders in sustainability, procurement, supply chain, technology & AI, cyber and FinTech. It also covers industries such as manufacturing, energy and EV. BizClik is based in Norwich, London, Dubai & New York. It offers content creation, advertising and sponsorship solutions, webinars & events.
