Speculation Swells around Amazon Shipping Plan
Speculation is starting to gain momentum after it was reported that online retailer Amazon is planning to launch its own shipping company in a bid to compete with freight forwarders UPS and FedEx, according to Bloomberg.
Brian Olsavsky, CFO of Amazon recently softened reports that the company had registered an ocean freight booking business, as well as leasing planes.
Mr Olsavsky said that the company was at this stage aiming to supplement its business partners during peak seasons.
Despite downplaying Amazon’s future plans, a report released by the company in 2013 revealed that it is looking to expand globally by outlining a plan for a global delivery network, which intends to govern the flow of commodities from India and China.