SINGAPORE: The global logistics industry has been weighed down by changing trade dynamics and rising geopolitical tensions, from tariff wars and protectionist measures to supply chain rebalancing.
Freight routes have been disrupted, costs have skyrocketed and companies are scrambling to build more resilient and flexible networks.
Amid this uncertainty, success will be determined by agility and rapid adaptation, FedEx CEO Raj Subramaniam said on Thursday (Nov. 20).
“We are in a very rapidly changing world. Globalization trends…supply chain patterns…are changing and we are in the midst of that transition,” he told CNA.
“Those who have established networks will win, and I think people who respond with agility will win in an environment like this.”
Subramaniam said the logistics group is positioning itself to benefit from such changes, particularly in Asia, which has emerged as a hub of global trade.
“New markets, new trends, new routes are emerging – 18 of the top 20 routes are here in Asia,” he added.
In April, FedEx launched its first direct flight from Singapore to the US – the only logistics provider currently offering such a route.