DHL, an arm of Deutsche Post AG, forecast Wednesday that revenue growth in China would top 50 percent this year and said the country was set to become its largest Asian market by the end of this year or early next year.
DHL, which jostles with FedEx Corp. and United Parcel Service Inc. in the global courier arena, is trying to maintain its 40 percent express delivery market share in China — an insular, US$1.5 billion market that FedEx says will someday be the world's top cargo market. UPS claims to control a fifth of the China market.
"Based on our growth projections, revenue from China should overtake Japan late this year or early next year," Ross Allen, a senior vice president in Asia for DHL, said Wednesday.
DHL posted US$3.4 billion in revenue for Asia last year, versus US$24 billion worldwide. Country breakdowns were not available.
Revenue growth in Japan is "in the strong double digits," Allen said.
In India, where revenue growth is also in double digits, DHL is pondering more investment in service centers and gateways, after buying 80 percent of Indian express delivery firm Blue Dart Express Ltd., Allen said.
Rocketing global trade with China — which came to about US$1 trillion last year — is driving demand for air freight, although the domestic market is now dominated by China Post and local freight forwarders such as DHL partner Sinotrans.
(Shenzhen Daily April 21, 2005)
|
