Korea Times - February 16, 2010
Local shipping firms are expanding their boundary to the new growing business of third-party logistics (TPL), a one-stop service of outsourced logistics in companies' supply chain management. Adding to Korea Express and Hanjin Shipping, which are already gaining most of their sales from the outsourcing services, several others are gearing up to join the trend. Hyundai Logistics has recently set up an independent TPL division within its organization, by combining its existing subdivision with bulk shipping and harbor loading businesses... For Asia-Pacific TPLs, three-year growth projections fell from 23 percent in 2008 to 16.7 percent in 2009, according to an annual study by the Georgia Institute of Technology. However, expenditure on outsourcing as a percentage of total logistics costs is forecast to grow to 65 percent by 2011 and 70 percent by 2014. Read more>>