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Asia Pacific Is Top Shipping Loss Region, Allianz Says

Posted By Tony Sanchez / Cargo News / 0 Comments

June 5, 2019 Asia Pacific waters remain the top shipping loss region, accounting for 45% of losses globally in 2018, according to a new study released by Allianz. The Safety & Shipping Review 2019 analyzes reported shipping losses over 100 gross tons (GT). It was conducted by Allianz Global Corporate & Specialty (AGCS), a unit […]

Lufthansa CEO Carsten Spohr takes over as chairman of IATA’s board

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June 4, 2019 The International Air Transport Association (IATA) announced that Lufthansa Group chief executive officer Carsten Spohr has assumed his duties as chairman of the IATA Board of Governors (BoG) for a one-year term. This became effective from the conclusion of the 75th IATA Annual General Meeting in Seoul on 3 June. Spohr is […]

IATA: Slowing demand and rising costs squeeze airline profits

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June 3, 2019 The International Air Transport Association (IATA) has announced a downgrade of its 2019 outlook for the global air transport industry to a $28 billion profit (from $35.5 billion forecast in December 2018). That is also a decline on 2018 net post-tax profits which IATA estimates at $30 billion (re‑stated). The outlook was […]

Global Ship Lease Fixes Loan to Finance Boxship Buy

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June 3, 2019 Containership charter owner Global Ship Lease has secured a term loan of up to USD 37 million from Hellenic Bank Public Company Limited. The facility agreement was signed on Many 23, 2019, and would be used to partially finance the acquisition of three 7,849 TEU containerships, according to the company. The Hellenic […]

Trade gloom, rising oil, Boeing 737 MAX woes to cloud aviation summit

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May 30, 2019 Global airlines are meeting under a storm pattern of trade tensions, rising oil prices and a two-month-old grounding of the Boeing Co 737 MAX jetliner – threatening to put a halt to five years of strong profits in the cut-throat air travel industry. The sector’s bosses converge on Seoul for a summit […]

EU Funds Autonomous Shipping Initiative for European Waters

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Mayo 30, 2019 The European Commission revealed a new funding for an autonomous shipping initiative for the European waters. Under the project titled Autoship, two remote and autonomous (R&A) vessels would be built and operated, along with their needed shore control and operation infrastructure, reaching and going over technology readiness levels 7 -system prototype demonstration […]

CMA CGM Delivers Loss, Takes New Step in Transformation

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Mayo 30, 2019 French shipping major CMA CGM ended the first quarter of 2019 in loss as it took a new step in the transformation to adapt to the changing market. The company’s net loss for the period reached USD 43 million, compared to a net loss of USD 77 million reported in the same […]

Pakistan extends airspace closure on Indian border to June 14

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May 29, 2019 Pakistani airspace on its eastern border with India will remain closed until June 14, a civil aviation official said on Wednesday, the latest extension months after a standoff between the arch rivals. Pakistan closed its airspace in February after a suicide attack by a Pakistan-based militant group in Indian-controlled Kashmir led to […]

Airline group to hold summit on Boeing 737 MAX return in 5-7 weeks – IATA head

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May 29, 2019 The International Air Transport Association (IATA) will organize a summit with airlines, regulators and manufacturers in 5 to 7 weeks to discuss what is needed for the Boeing Co 737 MAX to return to service, the airline group’s head said on Wednesday. At an IATA meeting in Montreal last week, airline members […]

IATA: Negative trend continues in April

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May 29, 2019 Air cargo demand fell 4.7% in April, continuing the negative trend that began in January, the International Air Transport Association (IATA) reports. Brexit-related trade uncertainty in Europe and trade tensions between the US and China both contributed to declining new export orders. In month-on-month terms, export orders have increased only three times […]