Saudia suspends Toronto service following diplomatic spat

Posted By Tony Sanchez / Airlines / 0 Comments

August 7, 2018 Souring diplomatic relations between Canada and Saudi Arabia has lead to a suspension of Saudia flights between the two countries. The move follows Riyadh’s decision to expel Canada’s ambassador in response to “Canadian statements in defense of human rights activists detained in the kingdom,” says Ottawa. “Canada will always stand up for […]

Fraport to sell stake in Hannover Airport to iCON Flughafen

Posted By Tony Sanchez / Airport / 0 Comments

August 7, 2018 Frankfurt Airport operator Fraport is to sell its 30 per cent stake in Hanover Airport to iCON Flughafen for €109.2 million. Fraport acquired shares in Hanover Airport’s operating company, Flughafen Hannover-Langenhagen GmbH (FHLG) in two steps, initially 20 per cent in 1998, followed by another 10 per cent in 2003. The other […]

MISC’s Earnings Drop amid Poor LNG Performance

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 7, 2018 Malaysian shipping group MISC Berhad witnessed a drop in its earnings, mainly due to a slowdown in the liquefied natural gas (LNG) sector. The company’s revenue was at RM 2.14 billion (USD 524.5 million) for the quarter ended June 30, 2018, dropping by 7% compared to MYR 2.3 billion reported in the […]

DP World Buys Shortsea Operator Unifeeder

Posted By Tony Sanchez / Cargo News / 0 Comments

August 7, 2018 Dubai-based port operator DP World is to acquire Unifeeder Group, the largest Pan-European feeder and shortsea operator.  On August 7, DP World signed the agreement to acquire 100% of Unifeeder for EUR 660 million (around USD 763.6 million) from the company’s majority owner, Nordic Capital Fund VIII, and certain minority shareholders. As […]

Saudi Aramco Resumes Oil Shipments through Bab-El-Mandeb Strait

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 7, 2018 Saudi Arabian oil major Saudi Aramco has resumed oil shipments through Bab-El-Mandeb Strait that were halted at the end of July after the attacks on two very large crude oil tankers. “The company will continue to monitor the situation and remain ready to take necessary actions in efforts to constantly ensure the safety and […]