CargonewsXpress - Edition 1395

If this newsletter is not properly displayed, please click here. ABOUT US SUBSCRIPTION ADVERTISING CONTACT US - Edition: 1395 Headlines Cargo airlines losing out to ocean carriers Boeing steps up 777 production Trucking business boosts C H Robinson Q3 profit Virgin Atlantic doubles India cargo capacity Air China abandons placement plan Global Ports takes control of Russian terminal PSA bows out of Mumbai port project Guangzhou box throughput up 4.5% in nine months Hutchison Ports close to Brisbane start-up Yamato to start overnight service to Asia TNT in talks with two bidders for airline unit FedEx to add 20,000 workers for holiday season Aramex third quarter profit up 11% UPS Q3 profit plunges 56% Contents Cargo airlines losing out to ocean carriers Airlines have permanently lost out to ocean container lines as box carriers grab an increasing share of the freight that was previously moved by air, according to logistics and cargo executives, reported the South China Morning Post. Boeing steps up 777 production Boeing Co began building its 777 airplane at a stepped-up rate at its Everett, Washington, plant, reported Dow Jones Newswires. The aircraft, a 777 freighter, is expected to be delivered to Korean Air Lines in February. Trucking business boosts C H Robinson Q3 profit Logistics company C H Robinson Worldwide Inc's third-quarter earnings rose 1.7 percent as sales in its key trucking segment improved, as did those in its sourcing and payment services divisions, reported Dow Jones Newswires. Virgin Atlantic doubles India cargo capacity Virgin Atlantic Cargo begins daily passenger and cargo flights between London Heathrow and Mumbai next week, giving exporters and importers in India another choice for fast, same day trade connections with the US. Air China abandons placement plan Air China has terminated a plan to raise funds in a private placement with its state-owned parent, China National Aviation Holding, reported Dow Jones Newswires. Global Ports takes control of Russian terminal Russian ports operator Global Ports said it is taking full control of a container terminal based in Russia's Far East, increasing its stake from 75 percent to 100 percent for US$230 million, reported Reuters. PSA bows out of Mumbai port project Temasek-owned PSA International's grand plans for a fifth container terminal in India has ground to a halt. The port operator told Business Times Singapore it will bow out of a much-delayed US$1. Guangzhou box throughput up 4.5% in nine months Guangzhou Port saw its cargo throughput rise 2.1 percent year-on-year to 323.17 million tonnes in the first nine months of this year, while its container throughput climbed 4.5 percent to 10.81 million TEUs, reported China Business Newswire. Hutchison Ports close to Brisbane start-up Global operator Hutchison Ports Holdings says it is on track to commence operations in Australia by the end of the year as the US$258 million development of its Brisbane port facility starts to take shape, reported The Australian. Yamato to start overnight service to Asia Yamato Holdings will launch an international overnight delivery service between Japan and other Asian countries on November 15, according to Nikkei Report. TNT in talks with two bidders for airline unit Dutch package-delivery company TNT Express NV is in talks with at least two bidders to sell its airline unit as part of its effort to finalise a takeover by United Parcel Service Inc, reported The Wall Street Journal. FedEx to add 20,000 workers for holiday season FedEx Corp said it plans to hire 20,000 seasonal workers, the same as last year, to handle holiday shipping volume that it expects will be up more than 13 percent, reported Reuters. Aramex third quarter profit up 11% Logistics firm Aramex posted a 11-percent increase in quarterly profits, boosted by its Gulf Arab operations, and the Dubai firm said it was eyeing more acquisitions in Southern Africa region next year, reported Reuters. UPS Q3 profit plunges 56% United Parcel Service Inc (UPS) reported a 56 percent drop in third-quarter earnings despite a rise in package volume, as soft international trade and growing numbers of lightweight, low-priced shipments from online shopping crimped revenue.   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. 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