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Less-than-truckload shipments for the FedEx Freight segment fell 6percentt from the same period last year because of the economic slowdown, the company said.
But while FedEx earned $380 million in the first quarter, the FedEx Freight segment lost $16 million and has been unprofitable for four straight quarters.
The company freight segment, which is largely dependent on North America, reported a $36 million loss in the quarter on lower yields and higher volume-related costs, compared with a loss of $106 million a year ago.
The Qantas Freight segment includes air cargo and express freight business of Qantas brands.
In countries like Indonesia and Philippines, the distribution, transportation, logistics and freight segment have employed M2M technology for years.
The FedEx Freight segment includes the provision of less-than-truckload freight services across all lengths of haul.
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This compares with a CAGR of 14% for Norfolk Southern's industrial freight, and a CAGR of 6% for CSX Corporation's merchandise freight segments during the same period.
The Freight Brokerage segment places shippers' freight with qualified carriers.
The Freight Forwarding segment arranges domestic and international shipments using ground, air and ocean transport through a network of agent-owned and company owned locations.
The Freight Wagons segment provides railway freight wagons consisting of open top wagons, box wagons, flat wagons, tank wagons, hopper wagons, and other general and special purpose railway freight wagons.
Good-quality rail infrastructure across borders is an essential condition for the competitiveness of many rail freight market segments, and it is primordial if rail wants to compete with other modes of transport.
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