Tony Sanchez

IATA: Growth to slow in 2019 as world trade weakens

Posted By Tony Sanchez / Cargo News / 0 Comments

December 12, 2018 Demand growth is expected to slow in 2019 due to weaker world trade conditions, with tonnage predicted to increase 3.7%, the International Air Transport Association (IATA) says. The association is predicting that, following an increase of 4.1% in 2018, growth will slow to 3.7 per cent to 65.9 million tonnes, the slowest […]

Euronav’s Merger with Gener8 Maritime Is the Deal of the Year

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

December 12, 2018 The merger between Belgium’s tanker shipping company Euronav and US-based crude oil shipping company Gener8 Maritime has won the ‘Deal of the Year 2018’ award by Lloyd’s List Global Awards. The merger was concluded in June this year, creating a large crude tanker operator with a fleet of 76 operating crude tankers, with […]

Koch Charters Diana Shipping’s Panamax

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December 12, 2018 Greece-based dry bulk owner Diana Shipping has signed a time charter contract with Singapore’s Koch Shipping for one of its Panamax bulkers. Under the agreement, the company’s 77,901 dwt Ismene was hired at a gross charter rate of USD 12,125 per day. Starting from December 12, the bulker, which was built in […]

Navig8 Chemical, AVIC Ink Sale and Leaseback for Two Tankers

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December 12, 2018 Navig8 Chemical Tankers has entered into sale and leaseback agreements with AVIC International Leasing for two of its tankers. Under the deal, the IMO2 37,000 dwt Interline coated tankers were sold and delivered to Avic. Navig8 Chemical has entered into 10-year bareboat charters with Avic for the units. It has purchase options […]

FedEx Express CEO David Cunningham to retire

Posted By Tony Sanchez / Airlines / 0 Comments

December 11, 2018 David Cunningham will retire from his role of president and CEO of FedEx Express on 31 December, to be succeeded Raj Subramaniam. Cunningham started his FedEx career at the FedEx Express World Hub in Memphis, Tennessee in 1982, and has held numerous leadership positions across multiple regions. Roles have included chief operating […]

Etihad adds capacity in Spain with Barcelona flights

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December 11, 2018 Etihad Airways has launched passenger services to Barcelona, which will also provide cargo customers with greater access to the airline’s global network. The Barcelona – Abu Dhabi flights started on 28 November, and combined with daily Madrid services, offers more than 23,000 tonnes of cargo capacity in the Spanish market. In addition, […]

NYK to Build Three More LNG Carriers for Mitsubishi

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December 11, 2018 Japanese shipowner NYK Line has signed long-term charter contracts with a subsidiary of Mitsubishi Corporation for three new liquefied natural gas (LNG) carriers. Ordered from South Korea’s Hyundai Samho Heavy Industries, the units would feature a length of 297 meters and a breadth of 46.4 meters. The first vessel from the batch, scheduled […]

Volga-Dnepr opens operations base in Houston

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December 10, 2018 Volga-Dnepr Group has opened an Operations Base at Houston George Bush Intercontinental Airport to serve customers across North and South America. The base is an expansion of the group’s sales office, which opened in 2001, and will ensure customers will benefit from immediate local expertise and services to meet their logistics requirements. […]

Maersk Unveils New Cargo Protection Solution

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December 10, 2018 Danish shipping giant Maersk is expanding its commercial offering with an extended liability solution, Value Protect, to help protect its customers’ cargo. The solution offers an alternative to cargo insurance, increasing the customers’ chance of receiving full compensation in case of cargo damage in transit, the company explained. Valid while the cargo […]

Moody’s Downgrades Maersk’s Ratings, Outlook Stable

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December 10, 2018 The issuer rating and senior unsecured rating of Denmark-based shipping major A.P. Møller-Mærsk were downgraded to Baa3 from Baa2, according to rating agency Moody’s. The company’s medium-term note (MTN) program rating were also downgraded to (P)Baa3 from (P)Baa2. The rating outlook for all ratings is stable, Moody’s added. “The downgrade reflects our expectation […]