Logistics

Singapore – Singapore’s Neptune Orient Lines will slash its workforce by some 1,000 people in order to stay afloat in a shipping industry that is expected to undergo a severe slump next year.

China – China is poised to be DHL’s biggest market after it exits the US Domestic Express business.

China – FedEx has pushed the launch of its Asia Pacific hub from the end of 2008 to the first half of 2009, giving the company time to test the systems in the facility before it begins operations.

Global – The global financial turmoil is hitting container shippers hard, with Maersk lowering its 2008 outlook.

Global- According to a Tufton Oceanic Ltd executive, the shipping industry will continue in decline for at least two more years as the global fleet expands and a slowing world economy saps demands.

Asia – Panalpina has not been spared the effects of the global economic slowdown, registering some 25% fall in earnings before interest and tax.

Singapore- Singapore and the state of Kuwait have jointly announced the signing of an Open Skies Agreement (OSA) to facilitate full flexibility on air services operated by carriers of both countries.

India – FedEx, together with the US Commerce Department embark on trade mission to India this month to suss out business opportunities for US-based companies thinking of expanding into the country.

Japan - NYK, MOL and "K" Line have released parallel strong figures in their latest fiscal reports, but echoes similar outlook on the dark clouds looming in the shipping industry heading towards recession.

China - China will be the next top aviation market, said The Boeing Company in its latest current market outlook.