Management with FedEx (FDX -1.7%) noted on an earnings conference call (webcast) that customers...

|By:, SA News Editor

Management with FedEx (FDX -1.7%) noted on an earnings conference call (webcast) that customers are shifting to marine options as air freight costs rise on higher jet fuel prices. It's also a trend that could continue with the widening of the Panama Canal set to lower the cost of transporting good between the Pacific and Atlantic oceans. On the macro front, the company sees global GDP falling to 2.3% in calendar year 2012 and coming in at 2.7% for 2013.