By Nicholas G. Miller
Shares of shipping companies fell after Amazon launched a business called Amazon Supply Chain Services that companies can hire for services such as fulfillment, ocean and air shipping, as well as truck transportation.
FedEx dropped 6.5%. UPS was down 7.9%. GXO Logistics sank 9.1%. C.H. Robinson slipped 6.2%.
The launch essentially makes Amazon a third-party logistics provider, allowing it to apply its sprawling global supply chain to compete with transportation and warehousing giants.
The service can fulfill orders placed through platforms that compete with Amazon's own marketplace and will not just be for e-commerce merchants and retailers, but also for companies shipping goods business-to-business.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
05-04-26 1029ET
