Year: 2008

Polar Air Cargo Worldwide, Inc. Begins Operations between Japan’s Kansai International Airport and Chicago O’Hare

Posted by | Jan 9, 2008 | |

Atlas Air Worldwide Holdings, Inc. announced that Polar Air Cargo Worldwide, Inc. (Polar) will begin service into Osaka’s Kansai International Airport from Chicago O’Hare International Airport, effective February 21, 2008. Polar will operate five times weekly between Chicago and Osaka using B747-400 freighter equipment. This new service will also provide connections from Osaka to Shanghai, as well as connecting Osaka with Polar’s U.S. destinations and the fast growing South American region.

Osaka has become an important Asian hub, with approximately 500 weekly flights to Asia, 70 weekly flights to Europe and the Middle East, and 40 weekly flights to North America. Now offering the benefit of 24-hour service and a newly-opened second runway, Osaka offers Polar efficiency and convenience as it continues to build its operations in Asia.

Polar announced it would expand its operations in Japan following the conclusion of the U.S.-Japan bilateral civil aviation negotiations in September. In addition to its existing five frequencies to Tokyo with service beyond to Seoul, South Korea, Polar was granted another six frequencies to Japan, excluding Tokyo, and the right to fly beyond this new point in Japan to two points. In this, Polar was given latitude in choosing the new destination in Japan, as well as the two points outside of the country. Polar chose to commence service into Osaka with Shanghai selected as the beyond point.

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UPS expanding global service in wake of US economic downturn

Posted by | Jan 9, 2008 | |

United Parcel Service (UPS) is expanding an international air-freight service that guarantees delivery dates in the wake of a slowing US economy, the Toronto Star reports.
The UPS Express Freight service will more than triple the amount of express lanes currently served, UPS officials said.
The service, which now reaches 52 countries, is designed to provide guaranteed time-definite, overnight-to-three day door-to-door delivery including routine customs clearance to major global metropolitan areas.
UPS has been boosting international revenue at a faster rate than in the US, where the economic expansion is waning, according to the Toronto Star. The report said UPS international operations accounted for 28 pct of the company’s total revenue in 2006.

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time:matters takeover of express specialists JNE Netherlands

Posted by | Jan 9, 2008 | |

time:matters is continuing its strategy of internationalization with its acquisition of JNE
the takeover ensures representation in a market with attractive potentials for development

Neu-Isenburg near Frankfurt am Main / Amsterdam (the Netherlands) 9 January 2008 –

time:matters, the special service provider which is part of the Lufthansa Group and provides courier, sameday and emergency logistics, is continuing its strategy of internationalization: with effect from 1 January 2008 time:matters took over the Dutch express logistics provider, JNE.

In concrete terms the transaction, for which secrecy was agreed with regard to its financial volume, is presented in such a way that with the New Year 100 per cent of the shares of JNE Netherlands BV were transferred to time:matters Holding GmbH. As a result of the acquisition the founder and former owner of JNE, Ben Hofs, was appointed managing director of the new Dutch time:matters subsidiary. He is assisted by the co-managing director, Dr Arne Schulke, the chief financial officer of the German time:matters Holding. All the employees of JNE have been taken over by the new company.

JNE and time:matters combine an optimal “Strategic & Cultural Fit”: “The strategic company alignment is virtually congruous: both companies operate in a very businesslike way and are defined by strong customer orientation; the portfolio of services complement each other in a truly ideal way”, Franz-Joseph Miller, the chief executive officer of time:matters stated.

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Postal industry minimum wage to cost PIN Group up to 45 mln eur in 2008

Posted by | Jan 9, 2008 | |

The minimum wage to be brought into the postal industry, which was approved by Germany’s upper house in December, will cost PIN Group up to 45 mln eur in 2008, Chief Executive Horst Piepenburg told Die Zeit.

‘As a result of the minimum wage, costs of the PIN Group in 2008 will rise by 35-45 mln eur,’ he said.

Most of the costs are expected to be covered by a form of state reimbursement, he said.

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DHL agree partnership with Walgreens

Posted by | Jan 9, 2008 | |

DHL has entered into a strategic agreement with Walgreens, the nation’s largest drugstore chain, which will more than double the number of retail outlets offering DHL Express shipping services nationally.

Walgreens is projected to expand to more than 6,500 locations by the end of 2008 with more than 1,600 stores open 24 hours a day..

The new agreement is designed to readily service shippers sending and dropping off their packages via DHL for overnight, ground or international delivery. The DHL Shipping Spot will be staffed by Walgreens associates at Walgreens photo counters to weigh, label and ship customer packages to U.S. or international destinations, creating a simple and easy shipping experience.

Walgreens customers will have access to DHL’s core express products and services. Shippers will benefit from the convenience of a DHL location “down the street” and “around the corner” that provides access to a global shipping network serving over 225 countries and territories.

By end of 2008, DHL will have more than doubled its retail presence with retail shipping locations, including Walgreens and OfficeMax locations, as well as thousands of independently owned and operated shipping centers that are part of the DHL Authorized Shipping Center network.

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China Postal Savings Bank opens 20th provincial-level branch

Posted by | Jan 9, 2008 | |

China Postal Savings Bank (CPSB) opened a provincial-level branch in eastern Zhejiang province on Wednesday, bringing the number of provinces in which it can conduct a full range of financial services to 20.

With 1,500 post office outlets already established in Zhejiang, CPSB, now China’s fifth largest commercial bank in terms of deposits following its inauguration nine months ago, will be able to provide credit card business, loans and financial management services in both urban and rural areas, according to a branch spokesman.

Post offices in China began to offer postal savings services in1986 but until now were not authorized to provide lending or credit card services.

There are 36,000 post office outlets nationwide, almost 60 percent of them in rural areas, and 270 million account holders.

CPSB has been officially approved to establish branches at all levels around the country, including 34 provincial-level branches and over 20,000 sub-branches, the China Banking Regulatory Commission said.

The bank’s governor Tao Liming previously said it aimed to open all its provincial-level branches by the end of this month.

By the end of October, CPSB had registered 1.7 trillion yuan (about 233 billion U.S. dollars) in deposits.

CPSB was inaugurated last March representing a substantial step forward in China’s financial reform and is expected to improve financial services in the country’s rural areas.

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UPS adopts new financial policy to enhance shareholder value

Posted by | Jan 9, 2008 | |

UPS today announced its Board of Directors has approved a change in financial policy regarding the company’s capital structure designed to enhance UPS’s value to shareowners. Under the new policy, UPS intends to significantly increase the debt component of its balance sheet.

Going forward, the company intends to manage its balance sheet to a target debt ratio within a range of 50-to-60 pct funds-from-operations-to-total-debt. Previously, there was no stated metric.

“We have been studying our capital structure options for some time,” said Kurt Kuehn, UPS’s chief financial officer. “This change in policy will permit us to make increased investments in the business, pursue selective acquisitions and undertake larger share repurchases.”

To begin implementation of the new policy, the Board authorized an immediate increase in the amount of funds available for stock repurchases from approximately USD 2 billion to USD 10 billion. The company intends to complete that level of share repurchases in the next 24 months. Repurchases may take the form of an accelerated share repurchase program, open market purchases or such other methods as the Board deems appropriate.

“UPS has had a long-standing commitment to a very strong balance sheet for decades and that will not change,” added Scott Davis, UPS’s chairman and CEO. “Indeed, we are putting that balance sheet strength to work to more efficiently deploy capital for the benefit of our shareowners. UPS’s consistent, stable cash flows mean we can accept a higher degree of debt while continuing to strategically grow our business.”

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Royal Mail Group renews occupational health services contract with Atos Healthcare (UK)

Posted by | Jan 9, 2008 | |

The contract is initially extended for three years with the option to extend by a further two years.

Atos Healthcare has been delivering occupational health services to the Group since 2002, where it has helped to successfully reduce absenteeism in the Royal Mail letters business, The new contract incorporates a risk reward model, with Atos Healthcare being incentivised to help Royal Mailfurther reduce absenteeism.

This helps us deliver excellent service to our customers, while also playing a key role in making the company a great place in which to work.“ said Dr. Steve Boorman Director of Corporate and Social Responsibility at Royal Mail Group

Atos Healthcare will deliver the full range of occupational health services including a 24/7 Employee Assistance Programme that provides timely and professional resources to help employees manage issues linked to stress, for example the death of a close relative.

It will also provide sickness absence management, pre-employment screening, driver medicals, health screening, vaccinations service and progammes to educate and inform staff about health related issues, including a mobile facility that continually tours Royal Mail Group office locations.

“Innovative Occupational Health services are essential if businesses are to improve the health and well-being of their employees,” said Mark Bounds, senior vice president at Atos Healthcare.

“We will continue to work with Royal Mail Group to deliver a proactive programme that benefits all employees, while helping Royal Mail Group to increase productivity and gain competitive advantage.”

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