US mobile banking has yet to take off
Only 10% of US consumers use a cell phone to perform a banking transaction, but the field is expected to grow.
Read MoreTag: Korea
Korea Post to Radio-Track Mail, Parcels
The state-run Electronics and Telecommunications Research Institute (ETRI) announced the development of a new RFID application that could “revolutionize’’ efficiency in the tracking of postal packages.
Currently, the tracking process relies on barcodes, but the use of RFID tags could greatly improve the speed and volume of the deliveries and lower labor costs by reducing manual piece handling, according to Heo Hong-seok, director of ETRI’s research team on postal logistics.
Under ETRI’s design, RFID tags are attached to the pallets attached to the packages, which then send radio signals to reading devices installed at the gates of mail centers.
The role of barcodes isn’t completely eliminated, however, as they will still be used to relay the information of each postal item to the electronic chips on the pallets.
ETRI was hired by the Korea Post, the country’s mail service monopoly, to develop RFID technologies for postal services. By the end of the year, Korea Post plans to license a company to install the RFID tags and readers at the country’s 25 mail centers nationwide, a process that is expected to be completed around August next year.
This would make Korea only the second country in the world, behind Denmark, to adopt RFID technology for real postal work.
Read MoreFurther consolidation in Korean express market
Consolidation has intensified in the Korean express market with this week’s acquisition by Hanjin of rival Shinsegae, making it into the new domestic market leader ahead of Korea Express and Hyundai.
Hanjin spent 30 billion won (EUR 18.7 million) to buy Shinsegae Dream Express, part of the Shinsegae retail group, the Yonhap news agency reported. Shinsegae Dream Express made a loss of 3.3 billion won (EUR 2 million) on sales of 96.7 billion won (EUR 60 million) last year.
The acquisition would put Hanjin Express ahead of Korea Express, which ended 2007 with sales of 293 billion won (EUR 182 million), and Hyundai Express which had sales of 286 billion won (EUR 178 million). The next largest operator is CJ GLS, with revenues of 184 billion won (EUR 115 million). The four market leaders are estimated to have about 60% pct of the domestic parcel delivery market.
Earlier this year UPS bought full control of its international express joint venture with Korea Express by acquiring the latter’s 40 pct stake in the venture. UPS said the transformation of the joint venture to a wholly-owned subsidiary would allow it to grow its business in Korea and better serve its customers in a key market.
Read MoreDHL's expanded Central Asia Hub in Hong Kong
Situated at the Hong Kong International Airport, the expanded CAH is one of the main intercontinental hubs in DHL Express’ global air network, connecting the Asia Pacific region with the other regions in the world. It will also serve as one of the main Asian bases for DHL’s airline partners Polar Air and AeroLogic who will operate growing transpacific and Euro-Asian trade lanes from October this year and spring 2009 respectively.
The CAH in Hong Kong is DHL Express’ main regional hub in Asia Pacific. It serves as one of the region’s main gateways to China and as a catchment area for the Pearl River Delta area, one of China’s main manufacturing bases. CAH is also the home base for Air Hong Kong, our JV with Cathay Pacific.
Dan McHugh, CEO, DHL Express Asia Pacific said that at present, over 60 per cent of express cargo processed by the Central Asia Hub is intra-Asia Pacific shipments and the figure is expected to continue growing alongside rising intra-regional trade.
Read MoreThe World's Top 50 Cargo Airlines
The first tier of the 2007 Top 50 Cargo Airlines worldwide looks a lot like the 2006 ranking with FedEx Express, UPS, Korean Air and Lufthansa retaining their No. 1 through No. 4 positions. With a 17.4 percent growth last year, Cathay Pacific, and its subsidiary Dragonair, bumped Singapore Airlines from the No. 6 slot, while China Airlines moved up a notch to No. 7, with Air France close behind at No. 8.
FedEx and UPS retained their vaulted positions despite punishing high fuel costs, a faltering economy and a noticeable decline in domestic air cargo. Significant quarterly losses in early 2008 showed how even the integrated express carriers continue to get pounded financially. FedEx lost USD 241 million in the three months ending May 31 compared with a profit of USD 610 million for the same quarter in 2007, while UPS saw its net profit fall 21 percent in its second quarter.
Korean Air, which slowed its growth engine significantly last year in the face of declining yields and migration of traffic to ocean vessels, retained its No. 3 overall position and the airline remains the world’s largest international freight airline with 9.5 million freight tonne kilometers flown.
Air France’s elevation to the No. 8 spot and its partner KLM Cargo’s jump to the No. 12 position from No. 14 can be attributed to a rejuvenation of its fleet and tight cost controls, which has seen a significant bump in profits.
The fastest growing carrier last year among the Top 50 airlines was Shanghai Airlines, which jumped from No. 57 to No. 42 and expanded its business 60.8 percent. Following close behind was No. 33 Qatar Airways, which posted a 50.6 percent growth from 2006 to 2007.
The long-term growth of the industry remains in parts of Asia and the Middle East, where Emirates moved up to the No. 9 spot from No. 12 despite slowing from 19.9 percent growth the year before. Air China, the world’s fifth largest domestic cargo carrier, grew 12.3 percent last year and moved up to No. 16 from No. 18.
Not all Asia and Middle East carriers showed traffic gains in 2007. Nippon Cargo Airlines, which slipped to No. 28 from No. 26, showed a 17.2 percent decline in traffic last year over 2006. Gulf Air’s growth dropped 26.5 percent in 2007, the second straight annual decline.
A number of combination carriers posted modest gains or losses in air freight traffic. Yet United Airlines, at No. 18, showed 15.6 percent traffic growth last year. American Airlines retained its No. 20 position, increasing traffic 4 percent in 2007. Northwest Airlines, which left Chapter 11 bankruptcy in 2007 and is awaiting regulatory approval to merge with Delta Air Lines, posted a 9.4 percent decline in traffic in 2007, dropping to No. 19 from No. 17.
The top 50 list is based on freight traffic, measured in freight tonne kilometers flown, reported by the International Air Transport Association and on figures provided by airlines.
In a change from previous years, we have sought to include only carriers in scheduled service rather than “wet lease” carriers. That means that carriers such as Atlas Air, Evergreen International Airlines, Air Atlanta Icelandic and the defunct Gemini Air Cargo are not included. U.S. carrier ABX Air operates largely on an ACMI basis, is included mostly as a proxy for DHL in the United States.
Our goal remains to show the relative scale of all carriers that fly cargo. Carriers that have ceased operations are not listed in this year’s top 50.
Where available, we have included revenue figures and notable orders for aircraft, particularly freighters.
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