CargonewsXpress - Edition 1364

If this newsletter is not properly displayed, please click here. ABOUT US SUBSCRIPTION ADVERTISING CONTACT US - Edition: 1364 Headlines American planning layoffs in Texas Qantas expects to save $316m a year Poor cargo traffic hits Fraport profit Cathay Pacific reports1H loss of $120m Shanghai container throughput slips ABG wins India terminal project bidding Antwerp Port tries to lure Essar Group Saudi Arabia in port development deals Mumbai port hopes to cut labour force by 3,000 Expeditors Q2 profit slips on poor air freight Contents American planning layoffs in Texas American Airlines expects to lay off 40 cargo workers at Dallas-Fort Worth International Airport in late September, reported St Louis Post-Dispatch. Qantas expects to save $316m a year Qantas Airways expects to save around US$316.4 million a year from asset sales and consolidation, chief executive Alan Joyce told a business meeting in Sydney, reported Dow Jones Newswires. Poor cargo traffic hits Fraport profit Airport operator Fraport said net profit in the second quarter fell about 13 percent on the year to US$85. Cathay Pacific reports 1H loss of $120m Cathay Pacific plunged to a first half loss of US$120 million as the carrier was buffeted by high fuel prices, falling passenger yields and weak air cargo demand. Shanghai container throughput slips Shanghai Port, the world's busiest container port, saw its container volume in July fall 1.8 percent from a year earlier, a rare contraction in activity, data issued by the port's operator showed, reported Reuters. Container throughput reached 2. ABG wins India terminal project bidding ABG Container Handling, a unit of Mumbai-listed ABG Infralogistics, has won the rights to develop and operate a new container loading facility at V O Chidambaranar port (formerly known as Tuticorin port) in Tamil Nadu, reported The Mint. Antwerp Port tries to lure Essar Group Port of Antwerp, which had recently acquired a minority stake in the Essar Group-controlled Essar Ports, will now try to attract the Essar Group companies to set up facilities at the Antwerp port, reported The Economic Times. Saudi Arabia in port development deals The Saudi Ports Authority (SPA) has signed several deals to develop the King Abdul Aziz Port in Dammam, Duba Port in Tabuk, King Fahd Industrial Port in Yanbu and Yanbu Commercial Port. Mumbai port hopes to cut labour force by 3,000 Mumbai port hopes to cut its labour force by 3,000 through a voluntary retirement scheme, reported The Hindu. The scheme, to be approved by the government, would entail an outgo of about US$72.52 million but the port stands to save $27. Expeditors Q2 profit slips on poor air freight Expeditors International's second-quarter earnings fell 12 percent as the logistics company's air freight business struggled, though volume growth in other areas climbed, reported Dow Jones Newswires.   Produced by Cargonews Asia 10/F, Block C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong. Tel: 852-3965 7800 Fax: 852-2508 0255 Contact Editorial: cnaedit@cargonewsasia.com.hk Advertising: octang@cargonewsasia.com.hk Other enquiry: customer@cargonewsasia.com.hk You have been sent this email because you requested to receive it, either as a registered user of CargonewsAsia.com, or as a registered reader of Cargonews Asia newspaper. If you would like to unsubscribe from this newsletter click here. If you received this newsletter from a friend and you would like to subscribe to it free of charge please go to the cargonewsasia.com registration page and fill out the registration form. This news service is designed for optimal viewing with MS Outlook. Copyright @2002-2009 Marshall Cavendish Business Information (HK) Ltd. All Rights Reserved.