TNT Express is not abandoning plans to expand its cold chain business despite the recurring power shortage in Luzon and Mindanao.
“I think it (power shortage) is still tolerable and we see no immediate effect on our cold storage business,” TNT country manager Cetin Yalcin said.
In the Philippines, TNT controls about 90% of airfreight that requires cold storage.
From clinical trials samples alone, TNT is looking at revenues of P200 million a year and almost a similar amount from other businesses that rely on cold storage.
The company recently reengineered its express service for the clinical trials market to help pharmaceutical companies, laboratories and research organizations safely and efficiently transport their diagnostic specimens and supplies in temperature-controlled conditions.
Earlier, TNT said it was looking at introducing direct flights to the Philippines and entering into inter-line agreements with other airlines to boost capacity. It only has Cathay Pacific as air cargo partner in the country for now.
This year, TNT projects a 17% increase in volume with continued recovery of the electronics industry. Members of the Semiconductors and Electronics Industries of the Philippines recorded a more than 50% growth in volume in the last few months, suggesting a recovery from the global recession.
