CMA CGM buys large chunk of FedEx Logistics to shore up Ceva
Deal time
MATX: SMASHING RECORDSDHL: NEW HIGHSPLD: PAY UPCHRW: WAITING FOR THE NEXT EARNINGS BEATMAERSK: DEAL TIME FOR THE OWNERSDHL: ASSET POWERCAT: TIME TO SELLMAERSK: UPGRADEMAERSK: ANOTHER UPGRADE HITS THE WIRES MAERSK: FLATTISH
MATX: SMASHING RECORDSDHL: NEW HIGHSPLD: PAY UPCHRW: WAITING FOR THE NEXT EARNINGS BEATMAERSK: DEAL TIME FOR THE OWNERSDHL: ASSET POWERCAT: TIME TO SELLMAERSK: UPGRADEMAERSK: ANOTHER UPGRADE HITS THE WIRES MAERSK: FLATTISH
If there was uncertainty before, it should be clear now: FedEx does not want Amazon as a customer. Just two months on from declining to renew its air freight contract with the e-commerce giant, the operator has severed its ground-delivery contract, according to reports in DC Velocity. This year, Amazon has seen its relationships with FedEx, UPS and the US Postal Service deteriorate. Much of this seems to be down to its reliance on these carriers to deliver for its ever-expanding empire, while simultaneously building its own delivery firm to supplant them.
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