CargonewsXpress - Edition 1368

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ABOUT US SUBSCRIPTION ADVERTISING CONTACT US - Edition: 1368 Headlines Air France pilots back restructuring plan Singapore Airlines Cargo launches new Brazil service Portugal's TAP post $138m loss in first half El Al cost-cutting stems second-quarter losses AAT tonnage dips in July Asian shippers brace for increase in rates Stricken MSC Flaminia still at sea ATI posts $18m gain in first half HK Airlines to delay Boeing jets delivery Etihad eyes Ryanair's stake in Aer Lingus American fails to cancel pilots contract Korean Air offers $1.06b for stake in aircraft maker LA, Long Beach traffic fall sparks concern Singapore Port throughput up 6.9% in seven months Maersk expects gains from higher rates Mitsubishi to buy large Shanghai warehouse K+N adds third warehouse in New Zealand Contents Air France pilots back restructuring plan Pilots for Air France-KLM have backed proposals to alter their contracts and working conditions as part of the airline's three-year restructuring plan, aimed at reducing operating costs and debt, reported Reuters. Singapore Airlines Cargo launches new Brazil service Singapore Airlines Cargo has launched its first freighter flight connecting Texas airport DFW with Sao Paulo, Brazil. Portugal's TAP post $138m loss in first half Portuguese airline TAP, set to be privatised, posted a net loss of US$138 million in the first half because of seasonal trading, staff strikes and higher fuel costs, reported Reuters. First half revenue was up nine percent to $1.34 billion. El Al cost-cutting stems second-quarter losses El Al Israel Airlines reduced its losses in the second quarter by nearly 70 percent as it pushed ahead with a cost-cutting campaign, offsetting a continued fall in revenue, reported Reuters. AAT tonnage dips in July Asia Airfreight Terminal (AAT) recorded a drop of one percent in tonnage in July to 59,476 tonnes compared with the same month last year. Export cargo recorded 40,483 tonnes, a slight drop of 0.28 percent when compared with the same month last year. Asian shippers brace for increase in rates Asian shippers will have to cough up higher freight rates from September on services offered by the top three shipping lines across various trade lanes. Stricken MSC Flaminia still at sea More than four weeks after the container ship MSC Flaminia, whose last port call was Charleston, was abandoned by its crew in the mid-Atlantic following a fire and explosion, the ship remains at sea as salvage efforts continue, reported The Post and ATI posts $18m gain in first half Philippines-based port operator Asian Terminals Inc (ATI) reported US$18.4 million net earnings for the first half of 2012 as revenues from port operations grew 3.4 percent to $54.32 million from the same period last year, reported Manila Bulletin. HK Airlines to delay Boeing jets delivery Hong Kong Airlines plans to replace a number of Boeing planes with Airbus jets and delay delivery of six Boeing freight jets past 2015 from an earlier target of 2013-14 as it seeks to cut costs and unify its fleet, reported Reuters. Etihad eyes Ryanair's stake in Aer Lingus Etihad Airways has said it would be interested in buying Ryanair's 30 percent stake in Aer Lingus as the budget airline struggles to take over its rival, according to Bloomberg. American fails to cancel pilots contract A US bankruptcy judge said the parent of American Airlines couldn't scrap its pilots' contract and impose more draconian terms, further delaying AMR Corp.'s efforts to emerge from bankruptcym, reported Dow Jones Newswires. Korean Air offers $1.06b for stake in aircraft maker Korean Air Lines has submitted a bid for a stake in Korea Aerospace Industries (KAI), in a deal estimated by the market to be worth around US$1.06 billion, reported Reuters. LA, Long Beach traffic fall sparks concern In a sign that the US economy is still in the doldrums, cargo traffic at the ports of Los Angeles and Long Beach was down one percent in July from a year earlier. Singapore Port throughput up 6.9% in seven months The Port of Singapore handled a total of 18.41 million TEUs of containerised cargo in the first seven months of 2012, up 6.9 percent year-on-year, the Maritime and Port Authority of Singapore said, reported SeeNews. Maersk expects gains from higher rates Shipping group A P Moller-Maersk, banking on the ability of shippers to continue raising freight rates, boosted the outlook for its earnings this year despite considerable caution on the global economy, including concerns about a US slowdown, reported Mitsubishi to buy large Shanghai warehouse Mitsubishi Logistics Corp next month spend US$37.86 million to acquire a large warehouse in Shanghai that will be used as a distribution centre for consumer electronics and sundry goods, according to Nikkei Report. K+N adds third warehouse in New Zealand Kuehne + Nagel has opened a new warehouse facility in Auckland to meet the growing demand for integrated logistics services.   Produced by Cargonews Asia 10/F, Block C, Seaview Estate, 2-8 Watson Road, North Point, Hong Kong. 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