Word: freight
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...studied by visiting business students from places such as Harvard, Wharton and INSEAD. The first step: speed things up - not the trains themselves but the turnaround time between the end and beginning of each new trip. In 2001 the average time to unload, repair, refuel and reload a freight train in India was 7.1 days. Now it is just five days, which means that 800 trains leave on a new journey each day, rather than just 550. Given that an additional trip can earn up to $15 million, the improvement made an important contribution to IR's bottom line...
...Yadav is certainly lucky that he's heading Indian Railways during a period of tremendous growth in India. The company is minting money hauling freight for mines thanks to the massive demand for iron ore in China, to cite just one example. But you also have to be clever enough to cash in. Contracts with mining firms are now linked to the price of ore rather than "set in concrete like in the old socialist fashion," says Kumar. "You have to make the best use of the opportunities the global market throws up. Before, we were operating like some Mother...
...also championing a massive public works project - the planned Grand Korean Waterway, a controversial 336-mile canal that would link the country's industrial northwest to the southeast city of Busan, south Korea's largest port. The government says the canel will attract tourists, provide cheaper freight transport and stimulate economic development in the interior. Environmental groups and opposition politicians are calling the project a boondoggle, although Lee insists the $16 billion project can be privately funded so that taxpayers won't have to pick up the tab. "Obviously, [the canal] would help the economy," in part because it would...
...will get off relatively lightly, because most are located in warmer coastal provinces near ports, says Stephen Green, senior economist at Standard Chartered Bank in Shanghai. Hardest hit will be producers that rely heavily on electricity such as aluminum and steel makers. But few companies will escape unscathed. Million Freight, a logistics company based in the normally balmy southern city of Shenzhen, was forced to stop taking new shipments on Jan. 28 because existing freight was stacking up. "Nearly all trains coming in and leaving from Shenzhen are delayed by seven or eight hours," says an executive at the company...
...initiatives are capital infusions geared toward improving transportation links between the North and South, adding to the $700 million the South has already spent on North Korea infrastructure projects over the past eight years. The projects are starting to bear fruit. On Dec. 11 a regular rail-freight service was inaugurated between Seoul and Kaesong, punching a symbolic hole in the heavily fortified DMZ that divides the countries. Work is also underway to repair a rail line linking Kaesong with the North Korean city of Sinuiju on the Chinese border - promising to give South Korean companies an overland transport route...