E-commerce shipping in the US and strong International export growth helped parcel giant UPS record a 7.2 per cent increase in global package shipments in the 2014 second quarter.
A surge in outbound shipments to Europe contributed to a 6.2 per cent rise in international small package revenues of $3.3 billion for the three month period.
Total export shipments increased 9.1 per cent over the prior year, said US-based UPS, with growth from all regions of the world. Europe led the way, with daily shipment gains of more than 13 per cent while Asia was up more than six per cent. Non-US Domestic products were 4.8 per cent higher, driven by growth throughout Europe.
In a statement, UPS said: “Rapid shipment growth in Europe caused UPS to purchase additional short-term capacity at a premium from local service partners. As a result, the company experienced increased delivery and network expenses during the quarter.”
UPS Forwarding produced double-digit operating profit growth: “Strong improvements: at North American air freight, brokerage and ocean freight were “offset somewhat by a drop in international air freight” and “market pricing on the key Asia to US lane continues to put pressure on rates”.
