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World economy to grow at slower pace says DHL

Hong Kong, May 31, 2011

DHL Express, a division of Europe's biggest mail and express delivery company Deutsche Post, expects the world economy to grow in 2011 but at a slower pace than last year, chief executive Ken Allen said on Tuesday.

DHL Express, market leader in international express services, also said it had set up an additional daily international route from Hong Kong to Cincinnati in the US to meet rising demand.

After DHL recorded solid growth in the first five months of this year, Allen said he expected global gross domestic product to rise this year but at a tamer pace.

'I think the rate of increase will not be as fast (as last year) because last year we were bouncing back from recession from the previous year,' he told reporters at a news conference in Hong Kong.

DHL express' business was growing at between 1.5 and 2 times worldwide GDP growth on average, he added.

DHL Express said it operated daily in Japan throughout the earthquake and tsunami period in March and saw little change in the volume of shipments.

'There was a little bit of volume fluctuation in the first few days but actually the volume in and out of Japan is largely the same as last year,' said Charlie Dobbie, executive vice president for global network operations and IT.

DHL Express said it was expanding its fleet of fuel-efficient vehicles and aircraft, acquiring 13 Airbus 300-600 for its European aircraft fleet from Japan Airlines Corp for an undisclosed sum. The new planes use up to 20 per cent less energy.

They would enter a conversion programme and go to European regional networks where they would replace some older aircraft, Dobbie said. – Reuters




Tags: DHL | Hong Kong | World Economy | Deutsche Post |

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