Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

UPS expands operations in the Phillipines

Investments in Asia Pacific rise to over $250 million since the start of 2023

UPS Screenshot 2024-03-22 at 3.19.13 PM.png
Supply Chain Xchange Staff
By Supply Chain Xchange StaffMar 22, 2024
Supply Chain Xchange Staff
See Full Bio

Package carrier and supply chain solution provider UPS Inc. will expand its operations in the Philippines, taking the value of its total investment commitments in Asia Pacific to over $250 million since the start of 2023, the company said Thursday.

Specifically, Atlanta-based UPS has agreed with The Luzon International Premiere Airport Development Corporation (LIPAD) to expand its operations at Clark Airport (CRK) in the Philippines, saying move will further strengthen its portfolio of integrated express, supply chain, and healthcare logistics services. Construction of the new Clark hub is set to begin in February 2025, and it is expected to be operational in late 2026.

“Asia Pacific continues to be one of UPS’s fastest growing regions. UPS has continued to invest in our network to maximize speed and flexibility, build solutions addressing the shift of global trade lanes, and offer resilience for our customers,” said Wilfredo Ramos, president, UPS Asia Pacific.

The agreement is the latest in a series of recent network and facility enhancements the company has made across Asia Pacific including in Singapore, Japan, China, Vietnam, South Korea, Taiwan, and most recently Hong Kong, where UPS announced it will open a new state-of-the-art facility by 2028.

The increased investment comes six weeks after the company said its fourth quarter earnings for 2023 had reached just $24.9 billion, a 7.8% decrease from the fourth quarter of 2022.


 

 

 

ArticleTransportationFinance & Strategy
ups
ArticleTransportationFinance & Strategy
ups

Recent

CEOs say their supply chains have a resiliency problem
Article

CEOs say their supply chains have a resiliency problem

Hurricane Francine threatens supply chains
Article

Hurricane Francine threatens supply chains

strip of RFID tags
Blog

Key technical considerations for RFID item tagging of nonapparel products

More Stories

aug24-lmi_orig.png

Logistics economy expanded in August

Economic activity in the logistics industry expanded in August, though growth slowed slightly from July, according to the most recent Logistics Manager’s Index report (LMI), released this week.

Keep ReadingShow less

Featured

Big gains for Big Lots
Videos

Big gains for Big Lots

photo-1556740772-1a741367b93e.jpeg

NRF: U.S. is on the cusp of nailing a “soft landing” in inflation fight

With the economy slowing but still growing, and inflation down as the Federal Reserve prepares to lower interest rates, the United States appears to have dodged a recession, according to the National Retail Federation (NRF).

“The U.S. economy is clearly not in a recession nor is it likely to head into a recession in the home stretch of 2024,” NRF Chief Economist Jack Kleinhenz said in a release. “Instead, it appears that the economy is on the cusp of nailing a long-awaited soft landing with a simultaneous cooling of growth and inflation.”

Keep ReadingShow less
xeneta air-freight.jpeg

Air cargo carriers enjoy 24% rise in average spot rates

The global air cargo market’s hot summer of double-digit demand growth continued in August with average spot rates showing their largest year-on-year jump with a 24% increase, according to the latest weekly analysis by Xeneta.

Xeneta cited two reasons to explain the increase. First, Global average air cargo spot rates reached $2.68 per kg in August due to continuing supply and demand imbalance. That came as August's global cargo supply grew at its slowest ratio in 2024 to-date at 2% year-on-year, while global cargo demand continued its double-digit growth, rising +11%.

Keep ReadingShow less
seegrid CR1_Renders_1-2_11zon.png

Seegrid lands $50 million backing for autonomous lift trucks

Seegrid Corp., which makes autonomous mobile robots (AMRs) for pallet material handling, has landed $50 million in new financial backing to accelerate its autonomous lift truck initiatives, which are generating more growth than expected, the company said today.

“Unrelenting labor shortages and wage inflation, accompanied by increasing consumer demand, are driving rapid market adoption of autonomous technologies in manufacturing, warehousing, and logistics,” Seegrid CEO and President Joe Pajer said in a release. “This is particularly true in the area of palletized material flows; areas that are addressed by Seegrid’s autonomous tow tractors and lift trucks. This segment of the market is just now ‘coming into its own,’ and Seegrid is a clear leader.”

Keep ReadingShow less
littler Screenshot 2024-09-04 at 2.59.02 PM.png

Congressional gridlock and election outcomes complicate search for labor

Worker shortages remain a persistent challenge for U.S. employers, even as labor force participation for prime-age workers continues to increase, according to an industry report from labor law firm Littler Mendelson P.C.

The report cites data showing that there are approximately 1.7 million workers missing from the post-pandemic workforce and that 38% of small firms are unable to fill open positions. At the same time, the “skills gap” in the workforce is accelerating as automation and AI create significant shifts in how work is performed.

Keep ReadingShow less
Copyright ©2024.