FedEx moving Asian hub from Subic to Guangzhou
07-13-2005, 09:27 AM
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FedEx moving Asian hub from Subic to Guangzhou
Technically Subic will still do some hub activity, but FedEx is calling the new China hub the largest cargo hub in Asia FWIW-
AFX News Limited
FedEx to build Asia's largest cargo hub at Guangzhou's Baiyun airport
07.13.2005
HONG KONG (AFX) - US logistics firm FedEx Corp said it plans to build what will be the largest Asia-Pacific hub at Guangzhou's Baiyun International Airport in southern China.
The company said it will invest 150 mln usd in the facility which will have a total floor space of 82,000 square meters located on 63 hectares.
The hub is expected to assume and expand the current activities of the existing hub in the Philippines, beginning in December 2008, the company said in a statement.
'More than two decades ago, we envisioned China as a nexus of global supply and demand and as a result became the first express carrier to enter the market,' said Frederick Smith, FedEx chairman.
'Today, we further invest in our leadership position by creating a new gateway that expands our customers' access to the global marketplace.'
FedEx said the decision to develop the new hub was made following a study that forecast Asia will remain the world's fastest growing regional air freight market, with growth of 8.5 pct each year until 2023.
China will be the main factor in that growth due to increasing traffic in semi-finished manufactured goods and steadily rising consumption, it said.
The study also showed that air freight from China to the US will grow at an average of 9.6 pct a year over the next 20 years, while traffic to Europe is predicted to grow at 9.3 pct over the same period.
FedEx said it will maintain its presence in the Philippines and is expanding its airport operations in Manila in order to provide back-office functions by centralising certain services.
AFX News Limited
FedEx to build Asia's largest cargo hub at Guangzhou's Baiyun airport
07.13.2005
HONG KONG (AFX) - US logistics firm FedEx Corp said it plans to build what will be the largest Asia-Pacific hub at Guangzhou's Baiyun International Airport in southern China.
The company said it will invest 150 mln usd in the facility which will have a total floor space of 82,000 square meters located on 63 hectares.
The hub is expected to assume and expand the current activities of the existing hub in the Philippines, beginning in December 2008, the company said in a statement.
'More than two decades ago, we envisioned China as a nexus of global supply and demand and as a result became the first express carrier to enter the market,' said Frederick Smith, FedEx chairman.
'Today, we further invest in our leadership position by creating a new gateway that expands our customers' access to the global marketplace.'
FedEx said the decision to develop the new hub was made following a study that forecast Asia will remain the world's fastest growing regional air freight market, with growth of 8.5 pct each year until 2023.
China will be the main factor in that growth due to increasing traffic in semi-finished manufactured goods and steadily rising consumption, it said.
The study also showed that air freight from China to the US will grow at an average of 9.6 pct a year over the next 20 years, while traffic to Europe is predicted to grow at 9.3 pct over the same period.
FedEx said it will maintain its presence in the Philippines and is expanding its airport operations in Manila in order to provide back-office functions by centralising certain services.
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