Tag: Asia

DHL and Vietnam Post form joint venture in Vietnam

Posted by | Nov 9, 2006 | |

German express delivery company DHL has formed a Vietnamese joint venture with the state-owned Vietnam Post and Telecommunications Group (VNPT), the companies said.

DHL, which has been a partner of VNPT for 18 years, holds 51 pct of the DHL-VNPT Express Ltd joint venture, worth 5.5 mln usd.

The company is run by German mail service Deutsche Post.

‘This joint venture strongly demonstrates DHL’s commitment to the Vietnamese market and our faith in Vietnam’s economy and its growth prospects,’ said Stephen Fenwick, DHL’s senior vice president for South Asia and Indochina.

Read More

First express joint venture set up in Viet Nam

Posted by | Nov 8, 2006 | |

An express joint venture between DHL, an international air express company, and the Viet Nam Post and Telecom Group (VNPT), has been set up to become the first joint venture in this field in Viet Nam.

A licence for the joint venture was made public on Nov. 8.

The new joint venture will replace the agent contracts the two sides signed over the past 18 years.

According to Stephen Fenwick, Senior Vice President for South Asia and Indochina of DHL Group, the development of the joint venture will not affect current customers or interrupt DHL services in Viet Nam.

Read More

Shanghai Airlines to Build Global Cargo Network

Posted by | Nov 7, 2006 | |

Shanghai Airlines Cargo International Co., Ltd., the cargo venture of Shanghai Airlines Co., Ltd., started to make a profit of more than CNY 2 million in September after coming into production in July.

The venture, jointly set up by China’s first commercial airline and Sino Prime Ltd. and Juniper Estate BV, two subsidiaries of Taiwan’s EVA Airways Corp., is predicted to see its profit grow sharply in October.

Shanghai Airlines Cargo International Co. got one MD-11 all-cargo plane and two Boeing 757 freighters from Shanghai Airlines, who holds a 55% stake in the venture. In late July, it introduced one Boeing 747 freighter.

It has captured an 11% share in the air cargo market in Shanghai, the country’s economic center, only three months after its inception. Within the year, it will also buy one MD-11 freighter, making it own five large-sized all-cargo aircraft merely half a year after its establishment.

Shanghai Airlines Cargo International Co. has launched routes to Los Angeles, Frankfort, Singapore, Bangkok, Osaka, Bombay, Macao, Hong Kong, and so forth, laying solid foundation for it to make a profit.

Read More

Postal dept's FDI move fails to deter foreign investors

Posted by | Nov 6, 2006 | |

The postal department’s proposal to cap foreign direct investment (FDI) in courier services and make small parcels and letters the monopoly of India Post has failed to deter the interest of foreign investors in this booming sector.

While the Overseas Courier Services Company of Japan has firmed up plans to invest here, existing foreign players like Fedex and DHL are also pumping in additional investments.

Overseas Courier Services of Japan recently won the Foreign Investment Promotion Board (FIPB) nod to invest in the country on condition that the clearance would be subject to government’s policy decisions on the sector.

Fedex is now pumping USD30m more through an acquisition to beef up its business here while DHL is planning significant investments in the next couple of years. It is expected that other international players would also take interest since the current signal from the government is that there is no going back on liberalising this sector. Confusion had arisen over FDI in courier services after the postal department proposed that foreign investment ceiling in the sector should be brought down to 49% from the existing level of 100%.

Citing India Post’s universal service obligation (USO), the postal department had called for an amendment to the Indian Post Office Act to give exclusive rights to the government-owned service for carriage and delivery of letters all across India.

Read More

FedEx buys out local franchisee for USD30 mn

Posted by | Nov 3, 2006 | |

This marks the direct entry of the USD33 billion FedEx, which has nearly 275,000 employees and 670 aircraft worldwide.Mumbai-based Prakash Air Freight Pvt Ltd, a privately held company, is one of the largest domestic companies in the industry with 384 offices serving nearly 4,400 destinations.

The two key promoters of Prakash Air Freight Pvt Ltd, Rajan K Manchanda and Vijay Narang, could not be reached for comments on their decision to cash out.FedEx applied to the Foreign Investment Promotion Board about two weeks ago for permission to undertake the acquisition.

After 22 years of operating in India through a franchisee, FedEx Corporation, the world’s largest express transportation company, has decided to acquire Prakash Air Freight Pvt Ltd, its sole franchisee in the country, for USD30 million in cash.

Sources said the deal, subject to the usual mandatory approvals, could be concluded in two weeks.

This acquisition comes close on the heels of TNT NV acquiring the Secunderabad-based road express company Speedage Express Cargo Services from Associated Road Carriers India for an undisclosed amount in September. Speedage posted a turnover of Ï17 million in 2005-06 (nearly Rs 100 crore).

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest