UPS

UPS said this week that it has begun operating flights into Chengdu, China as part of an effort to expand its connections between Asia, Europe, and the United States.

Compared to the second quarter of 2010, which saw a 71 percent annual gain in earnings per share for UPS, this year’s second quarter might be viewed as being pale in comparison. But a close look at the numbers points to another strong earnings performance for Big Brown.

Following the lead of UPS Freight, ABF Freight System announced today it will raise its rates by roughly 6.9 percent, effective July 25.

The General Rate Increase will be 6.9 percent and covers non-contractual shipments in the U.S., Canada, and Mexico, according to UPS. It also applies to minimum charge, LTL rates, and accessorial charges. UPS added that shippers will be able to view and download the new rates at [url=http://www.ltl.upsfreight.com]http://www.ltl.upsfreight.com[/url].

Taking steps to further leverage a relationship that has been intact since 2003, UPS and global pharmaceutical giant Merck said today they are expanding their distribution and logistics agreement on more of a global supply chain basis.

UPS Freight, the less-than-truckload (LTL) subsidiary of UPS said this week it has improved transit times from Vancouver, British Columbia to 181 United States cities in the Midwest and Northeast.

UPS said it will be rolling out a new reverse logistics service geared towards high-end products for shippers in the high-tech, healthcare, and retail sectors in the United States, Canada, Europe, Mexico, and Puerto Rico, effective this October.

Despite increasing fuel costs and harsh winter weather conditions, UPS reported today that first quarter revenue—at $12.58 billion—was up 7.3 percent year-over-year.

Citing improving financial conditions, UPS said it is reducing the number of its planned pilot furloughs from 300 down to 230, according to an Associated Press report.

UPS has rolled out a new consumer-to-business returns service, representing a step forward in reverse logistics.

Late last week, Congress passed House passed the Airline Safety and Federal Aviation Administration Extension Act of 2010, which will extend FAA’s funding through September 30.

Despite an uneven economy, UPS earlier today reported strong second quarter results. The company said that quarterly revenue—at $12.2 billion—was up 12.7 percent year-over-year, and operating profit—at $1.4 billion—was up 56.6 percent. Earnings per share—at $0.84—were up 71 percent.

As a follow-up to a sustainability push launched last October, UPS recently announced it is expanding its Carbon Neutral shipping program to 35 countries and territories throughout Asia, Europe, and the Americas.