FedEx Trade Networks paints Asia purple
In one fell swoop, FedEx Trade Networks (FTN), a subsidiary of FedEx Corp. expanded its global presence with a swath of new freight forwarding offices across Asia. Donald Urquhart reports.
December 1, 2009
These openings add to FedEx Trade NetworksÃ¢â‚¬™ freight forwarding operations in Hong Kong and Shanghai, which launched in 2008 and brings the total number of locations to 12.
Speaking to Payload Asia following the announcement, Joseph Frank, managing director, Asia, FedEx Trade Networks said the new offices were aimed at giving more comprehensive coverage in key Asia-Pacific trade lanes and support the companyÃ¢â‚¬™s continuing global freight forwarding expansion plans.
While the name Ã¢â‚¬ËœFedExÃ¢â‚¬™ is essentially synonymous with the express courier business, FedExÃ¢â‚¬™s involvement in the forwarding business Ã¢â‚¬“ known formally as FedEx Trade Networks Ã¢â‚¬“ stretches back nearly 100 years.
In Asia there has been very low visibility because the business was outsourced to an agency network, compared to the US for instance, whereit was handled in-house.
Evolving customer demands
Frank says that two years ago it was becoming very clear that customers wanted end-to-end solutions that were premised around the companyÃ¢â‚¬™s reputation for reliability.
Ã¢â‚¬Å“The decision was made to transfer the international freight forwarding operations from the agencies to FedExÃ¢â‚¬™s own operations,Ã¢â‚¬Â he said.