Industry News
iCustoms.AI raises US$2.2m to revolutionize trade compliance with AI
iCustoms.AI has raised US$2.2m in a seed round to support its AI-powered trade compliance solutions. This funding will propel the company toward groundbreaking innovations to automate and optimise customs and trade procedures.
According to iCustoms, its artificial intelligence platform automates and expedites customs procedures, resulting in time and cost savings of 50%.
“Our goal at iCustoms is to make trading simple for all of us,” said iCustoms AI CEO Adnan Zaheer.
Alibaba announces plans to buy remaining Cainiao share
Alibaba has offered to buy the remaining 36% of its logistics subsidiary Cainiao Smart Logistics Network Limited for up to US$3.75bn after Cainiao withdrew its initial public offering and listing application on the Hong Kong Stock Exchange.
Cainiao minority shareholders, including employees, can sell all of the outstanding shares of Cainiao held by them to Alibaba Group for US$0.62 per share – amounting to a total of US$3.75bn – or continue to own Cainiao shares.
bpost expands green fleet with 22 double decker trailers
bpost has added 22 double decker trailers (DDTs) to its fleet as part of its ambitions to cut carbon emissions by 55% by 2030.
The DDTs, which have been gradually replacing bpost’s standard trailers since 2020, will help cut the number of journeys and the distance covered by 30% by 2030, and 40% by 2040. They can each carry 60% more parcels and letters per journey than the largest trailers currently on the road.
Collective labor agreement for mail deliverers announced by PostNL
PostNL and the trade unions BVPP, CNV and FNV have announced a new collective labor agreement (CLA) for 15,000 mail deliverers that will run until December 31, 2025.
The CLA includes a new pay structure, which incorporates the recent increase in the legal minimum wage. The new structure has five scales and reflects the work experience built up by mail deliverers. The deal envisages four pay increases during the new CLA, the last of which will take effect on July 1, 2025.
Amazon launches same-day delivery for prescription medication
Amazon Pharmacy has launched same-day delivery of prescription medication in New York City and the greater Los Angeles area, with plans to expand the service to more than a dozen US cities by the end of the year.
The company is using small-format facilities, stocked with the most common prescription medications for acute conditions, to get medications closer to where customers live.
For example, Amazon Pharmacy’s new small-format facility in Brooklyn carries a subset of the more than 12,000 medications available from Amazon.com, with a focus on supporting urgent-care needs.
DX Group opens two new supersites
Parcel freight and logistics service provider DX Group has expanded its 2-Man division with the opening of two ‘supersites’ in Middleton in the northwest of the UK and London Heathrow, taking the total number of supersites across the country to eight.
According to DX, it has one of the largest 2-Man home delivery networks in the industry. It has a main hub in Willenhall in the West Midlands and 19 dedicated depots, including the eight supersites.
Continue reading DX Group opens two new supersites at Parcel and Postal Technology International.
E-commerce returns show no sign of slowing, report shows
A new report from Whistl has revealed that the rise in e-commerce returns shows no sign of slowing down in 2024 as consumers and retailers prioritize hassle-free shopping experiences.
According to the report, based on third-party research, the worldwide reverse logistics market is expected to grow by US$250bn over the next five years to US$954.5bn.
It also suggests that customers expect online returns to be at no or low-cost and as seamless as possible while e-commerce businesses find themselves working harder than ever to streamline their returns management processes and minimize the cost of returns.
Significant job losses expected as NZ Post confirms plans to streamline services
New Zealand Post (NZ Post) has confirmed that there will be “significant” job losses as it makes plans to stream mail into its parcel network in light of a continuing fall in letter volumes.
According to NZ Post CEO David Walsh, the plans will create a sustainable and cost-effective service through one network. The post consulted with employees and unions and engaged with transportation and delivery partners since October 2023 before coming to this decision.