Lufthansa CEO still sees too many airlines in Europe

Posted By Tony Sanchez / Airlines / 0 Comments

November 27, 2018 The chief executive of Germany’s Lufthansa said there are still too many airlines in Europe and he expects the company to be involved in more consolidation in the industry that will eventually leave three global carriers in the continent. “There are way too many players in Europe,” Carsten Spohr told a meeting […]

Turkish Cargo orders three more B777 Freighters

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November 27, 2018 Turkish Cargo has ordered three more Boeing 777 Freighters as it continues to soar with record financial results and growth. The 777 Freighter, which is based on the 777-200LR, can fly 4,900 nautical miles with a payload of 102 tonnes, meaning fewer stops and landing fees, less congestion at transfer hubs, lower […]

Drewry: Ship Operating Costs Rise for the 2nd Year in a Row

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November 26, 2018 Average vessel operating costs rose for the second year in a row following two years of marked declines, but cost inflation is set to accelerate on higher insurance premiums, shipping consultancy Drewry said. Typical ship operating costs accelerated moderately in 2018 as the uncertain recovery in freight markets across most cargo sectors […]

CMA CGM’s Earnings Drop as Fuel Prices Continue Rising

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November 26, 2018 French container shipping giant CMA CGM has witnessed a steep drop in its earnings as fuel prices continued rising in the third quarter of 2018. The company’s net income stood at USD 103.1 million, falling by 68.1 percent from USD 323.3 million reported in the same period a year earlier. However, revenues increased by […]

Hapag-Lloyd, KLU Open New Research Center for Shipping and Logistics

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November 26, 2018 German container shipping company Hapag-Lloyd has joined forces with compatriot Kühne Logistics University (KLU) in opening a new research center in Hamburg that specializes in maritime logistics. Inaugurated on November 22, 2018, the Hapag-Lloyd Center for Shipping and Global Logistics (CSGL) will be an integral part of KLU. As informed, the new […]

Flybe in talks with Virgin Atlantic for possible sale

Posted By Tony Sanchez / Airlines / 0 Comments

November 23, 2018 Flybe Group Plc  is in talks for a possible sale to Virgin Atlantic Airways Ltd, the British regional airline said on Friday, as it grapples with falling demand, higher fuel costs and a weak British pound. Flybe said earlier this month it was in talks with potential buyers, but added it was […]

Ethiopian Airlines steps up hunt for African connections

Posted By Tony Sanchez / Airlines / 0 Comments

November 23, 2018 Ethiopian Airlines is accelerating its strategy of weaving a patchwork of new African routes to soak up traffic on the continent and fly customers towards its more lucrative flights to rapidly expanding Asian markets. With a long-delayed African “open skies” revolution still mired in red tape, Ethiopian has been snapping up stakes […]

Salmon exports make up for weak imports at LATAM

Posted By Tony Sanchez / Airlines / 0 Comments

November 23, 2018 Cargo revenue at LATAM Airlines increased by 2.5 per cent in the third quarter with Chilean salmon exports making up for weaker imports. Third quarter revenue was $278.9 million, while revenue tonne kilometers (RTK) were up 2.6 per cent to 875 million, with capacity in available tonne kilometer (ATK) increasing by 3.9 […]

JAXPORT Wins USD 46 Mn for Harbor Deepening

Posted By Tony Sanchez / Cargo News / 0 Comments

November 23, 2018 The Jacksonville Port Authority (JAXPORT) has received additional USD 46 million in funding from the U.S. Army Corps of Engineers for the Jacksonville Harbor deep draft navigation project. The 47-foot deepening improvement project, authorized by the Water Resources Reform and Development Act of 2014, will enable mega-sized container vessels to enter the port. […]

Aegean Marine Unlocks Funds after First Day Motions Approval

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

November 23, 2018 Marine fuel logistics company Aegean Marine Petroleum Network has secured access to USD 532 million in financing after it received US court approval of all the company’s first day motions. The US Bankruptcy Court for the Southern District of New York granted the interim approval related to the company’s voluntary Chapter 11 restructuring, immediately […]