Amazon (NASDAQ:AMZN) is preparing to launch a two-hour delivery service in Berlin, Germany's Welt am Sonntag reports.
Although it has used Deutsche Post's (OTCPK:DPSGY) DHL parcel service for local deliveries in the past, Amazon is slowly building up its own distribution capabilities, as it aims to create a cost-efficient logistics system.
Deliveries would start in May and would at first be carried out by courier firms already active in the German capital.
Logistics and transportation companies fell sharply in today’s global stock market rout, underscoring how much the companies stand to lose if global economic growth and trade continue to slow.
FedEx (NYSE:FDX) fell ~9% early before mounting a partial recovery to end -4.9%, while other global carriers suffered declines, with UPS -3.6% and DHL parent Deutsche Post (OTCPK:DPSGY) ending -4% in German trading; A.P. Moeller-Maersk (OTCPK:AMKAF), which holds the world’s biggest container shipping capacity, ended -6.5% in Copenahgen.
The group has enjoyed a 48% increase in revenues in the last five years to $751B in 2014, according to Stifel, as companies have increasingly looked abroad to source and sell their products and supply chains have grown more complex.
U.S. trucking companies also sold off: YRCW -6.3%, XPO -2.4%, ECHO -4.2%.