Lufthansa Cargo’s five-year winning streak ended abruptly in the second quarter as it slumped to a 68 million euros ($74.8 million) operating loss from a 20 million euro profit a year ago.
A revolution is quietly under way in Saudi Arabia’s ports sector, as the first facility to be run outside government control attracts the world’s leading shipping alliance, piling pressure on the kingdom’s premier west coast port, Jeddah Islamic Port.
Brazil could see yet another major container terminal rise in the south of the country, benefiting shippers but ratcheting up the already fierce competition between the eight existing terminals already operating in the region and the six in the Port of Santos, only 202 nautical miles north.
Japan Airlines Corp.’s revenue from cargo operations grew faster than overall revenue in the first quarter of fiscal 2015, helping the carrier’s net profit surge 120.7 percent in the April-June quarter from the same three-month period last year to 32.6 billion yen ($263 million) on a consolidated basis.
Low Asia-Europe spot rates have forced NOL Group to renegotiate contract rates with some shippers.
Diana Containerships, the Greek charter ship-owner, posted increased second-quarter net income of $891,000 against $633,000 a year ago.
China’s HNA Group has agreed to acquire Swissport International, the world’s largest airport ground and cargo handling company, from PAI Partners, a Paris-based private equity firm, for 2.73 billion Swiss francs ($2.8 billion).
China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing the aggressive fleet expansion began last year.
State-owned Container Corporation of India is expanding its intermodal services connecting the country’s southeastern container ports, beginning its second rail service to a southeastern port in as many months.
Long Beach Container Terminal, which will open a terminal early next year the Port of Long Beach has billed as the world’s greenest container terminal, received the Mayor’s Green Port award Wednesday at ceremonies marking the 10th anniversary of the Long Beach Green Port program.
Blue Dart Express, India’s leading air express and logistics service provider, posted a big jump in net earnings in the first fiscal quarter, as income from operations increased significantly, driven by new business strategies.
LONDON – NOL Group swung to a net profit of $890 million in the second quarter from a $54 million loss a year ago, almost entirely due to the gain from the sale of APL Logistics to Japan’s Kintetsu World Express.
Officials at Khalifa bin Salman Port in Hidd, Bahrain, predict a structural shift in the size of the Bahraini cargo market and forecast a dramatic increase in container throughput to 500,000 20-foot-equivalent units this year because of growth in government-led infrastructure and construction schemes.