Archive

EU asks WTO to certify it has removed Airbus subsidies

Posted By Tony Sanchez / Aircraft Manufacture / 0 Comments

August 6, 2018 The European Union has asked the World Trade Organization to certify that it has complied with WTO rulings on its subsidies for planemaker Airbus, attempting to forestall billions of dollars of U.S. sanctions, a document published by the WTO showed on Monday. The legal move is the latest step in a 14-year-old […]

Norwegian Air posts above-forecast July passenger revenue

Posted By Tony Sanchez / Airlines / 0 Comments

August 6, 2018 Norwegian Air posted a surprise increase on Monday of revenues per passenger for July amid efforts to turn around its loss-making operations this year. Europe’s third-largest budget airline, the subject of a recent takeover proposal by British Airways-owner IAG, is rapidly expanding its long-haul operation as it seeks to become a global […]

Egyptair Cargo takes delivery of EFW A330-200P2F

Posted By Tony Sanchez / Airlines / 0 Comments

August 6, 2018 Egyptair Cargo has taken delivery of an Airbus A330-200 Passenger-to-Freighter (P2F) converted aircraft from Elbe Flugzeugwerke (EFW). The aircraft completed test flights in June and was awarded Supplemental Type Certificates (STC) by the European Aviation Safety Agency (EASA) and Egyptian Civil Aviation Authority (ECAA) in July. The A330P2F programme was launched in […]

BPA Calls for Action as “No Deal” Brexit Is Now Likely

Posted By Tony Sanchez / Cargo News / 0 Comments

August 6, 2018 The British Ports Association (BPA) has called for renewed emphasis on cross border trade facilitation following a research which showed that growing opinion that a ‘no deal’ Brexit outcome is now likely. The research, which was conducted by Maritime UK and the Institute of Directors, “underlines the growing feeling a ‘no deal’ is a […]

Scorpio Bulkers to Partially Finance 12 Ships with New Loan

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 6, 2018 Monaco-based bulker owner Scorpio Bulkers has received a commitment for a loan facility of up to USD 184 million. The loan facility, secured from Nordea AB, acting through its New York branch, and Skandinaviska Enskilda Banken AB, will be used to finance up to 60% of the fair market value of six Ultramax dry […]

Tung: COSCO-OOIL Merger Will Create an Industry Leader

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 6, 2018 The merger of Orient Overseas (International) Limited and COSCO Shipping Holdings offers ‘tremendous opportunities’ for both businesses, especially when it comes to combining strengths in the duo’s liner sectors, outgoing Chairman of OOIL, C C Tung, said commenting on the deal. COSCO and Shanghai International Port (Group) concluded the acquisition of OOIL’s shares on […]

Star Bulk Closes Acquisition of 16 Bulkers

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 6, 2018 Greece-based dry bulk shipping firm Star Bulk Carriers has finalized the acquisition of sixteen dry bulk vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction. The units were acquired through an all-share transaction which was agreed in late April 2018. The final consideration for the Augustea Vessel Purchase is 10.3 […]

China to Hit Back with 25 Pct Tariffs on LNG Imports from US

Posted By Tony Sanchez / Cargo News / 0 Comments

August 6, 2018 In response to the new wave of tariffs announced by the United States, China plans to fight back with USD 60 billion worth countermeasures, targeting, among others, the imports of liquefied natural gas from the U.S. The Chinese Ministry of Finance announced on Friday, August 3, that it plans to impose 25 […]