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FedEx opens new Shanghai hub

HONG KONG, January 8, 2018. Federal Express has officially opened its 134,000 sq.mt. cargo hub at Shanghai Pudong International Airport to support 66 weekly flights with "cutting-edge technologies" that include cold chain facilities.

FedEx Shanghai Pudong"The Asia Pacific region remains the growth driver of the world," said FedEx CEO David Cunningham. "This new hub adds yet another major facility to our already comprehensive regional and global network, giving our Asia Pacific customers reliable access to international markets."

With dedicated areas for China Customs and China Entry-Exit Inspection and Quarantine (CIQ), the fully automated sort system can process 36,000 packages and documents an hour and can deliver tracking data to customers' Smart devices.

"The FedEx Shanghai Hub marks another milestone that helps support the economic growth of east China," added FedEx president Asia Pacific, Karen Reddington.

The company said its new cold chain facility includes temperature-controlled storage ranging from -22°C to 25°C and provides solutions tailored to different healthcare products such as medicines, semi-finished medicines and pharmaceuticals.

In late December 2017 FedEx Corporation reported adjusted Q2 2018 earnings of US$866 million on revenue of US$16.3 billion. FedEx founder and chairman Fred Smith said the result reflected a stronger global economy and "strategic execution" by the company's 400,000-plus employees.

The total cost of integrating TNT Express by the end of the FedEx 2020 fiscal year is now estimated to be US$1.4 billion, up from the previous US$800 million estimate, of which US$450 million will be spent in the current financial year. FedEx Corp. CFO Alan Graf said the company is forecasting a US$1.2 to US$1.5 billion improvement in its express segment by 2020 compared to last year as a result.

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