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Japan Airlines first quarter profit rises on overseas flight gains; ANA sinks on oil costs

Posted By Tony Sanchez / Airlines / 0 Comments

July 31, 2018 Fuller international flights and a tight lid on costs helped Japan Airlines Co.  post a modest rise in quarterly operating profit while rival ANA Holdings Inc’s profits fell by 21 percent as higher oil prices squeezed margins. In results reported on Tuesday, JAL said it had filled a record 81.3 percent of […]

Thomas Cook CEO says no airline sale planned currently

Posted By Tony Sanchez / Airlines / 0 Comments

July 31, 2018 The chief executive of Thomas Cook said the holiday company was not currently planning to sell its airline business following media speculation that it was considering spinning it off. “Currently we have no current plans to sell our airline,” CEO Peter Fankhauser told reporters on a call on Tuesday. He did not […]

Volga-Dnepr denies falsifying Airworthiness Certificates

Posted By Tony Sanchez / Airlines / 0 Comments

July 31, 2018 Volga-Dnepr Group has dismissed reports that Aircraft Maintenance and Engineering Service (AMTES) is facing criminal charges for falsifying Airworthiness Certificates for Russian registered AN-124-100s. Describing media reports as “not true”, Volga-Dnepr says AMTES and its management have not received any official notifications of a criminal case nor any enquiries or investigations from […]

Cost savings and rising demand push up Lufthansa Cargo profits 50%

Posted By Tony Sanchez / Airlines / 0 Comments

July 31, 2018 Profits for Lufthansa Cargo have increased by almost 50 per cent in the first half of 2018 helped by substantial cost savings and increased demand for airfreight services. Earnings before interest and tax (EBIT) increased by 48.8 per cent to €125 million, pushing the EBIT margin up 2.9 percentage points to 9.6 […]

d’Amico Not Happy with First Half Results

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 Marine transportation company d’Amico International Shipping was hit by a very difficult market in the second quarter of the year. For the first half of 2018, the company’s net loss reached USD 20.2 million, compared to a net loss of USD 6.2 million seen in the first half of 2017 d’Amico International Shipping’s time charter […]

Japanese Big Three Bleed Red amid ONE Launch

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 Japanese shipping majors K Line, NYK Line and MOL reported losses for the first quarter of 2018 fiscal year covering the period from April 1 to June 30. K Line’s net loss came at JPY 19.2 billion (USD 172 million) for the period spiraling down from the profit of JPY 8.5 billion […]

Scorpio Tankers Inks Sale & Leaseback Deals for Four More Tankers

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 Monaco-based tanker owner Scorpio Tankers has secured sale and leaseback agreements with an unnamed financial institutions for four more product tankers. The ships in question are two MR product tankers, STI Gramercy and STI Queens, and two LR2 product tankers, STI Oxford and STI Selatar. The borrowing amounts under the arrangement are […]

OOCL’s Volumes, Revenues Continue Rising

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 Hong Kong-based Orient Overseas Container Line (OOCL) witnessed a continued rise in revenues in the second quarter of 2018, driven by an increase in volumes. For the three-month period ended June 30, 2018, the company’s total revenues increased by 4 percent to USD 1.46 billion from USD 1.4 billion. The rise was […]

Steel Cut for CMA CGM’s 22,000 TEU Behemoths, World’s Largest Boxships

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 China State Shipbuilding Corporation (CSSC) has launched construction of CMA CGM’s 22,000 TEU boxships ordered in September 2017. The steel cutting ceremony was held on Tuesday, July 26 at Jiangnan Shipbuilding in Shanghai, hosting representatives from the shipbuilder, CMA CGM and MOL, China Association of the National Shipbuilding Industry (CANSI) said. The ceremony […]

Koch Hires Diana Shipping’s Capesize

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

July 31, 2018 Athens-based dry bulk owner Diana Shipping has signed a time charter contract with Singapore’s Koch Shipping for one of its Capesize dry bulk vessels. Under the deal, Diana’s 179,362 dwt Capesize bulker Seattle would be hired at a gross charter rate of USD 24,000 per day. The charter contract, which commenced on July […]