CargonewsXpress - Edition 1405

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ABOUT US SUBSCRIPTION ADVERTISING CONTACT US - Edition: 1405 Headlines Philippine Airlines trims losses Cathay Pacific October freight up 1.9% Five in the running for Portugal airport operator Heathrow Airport calls for third runway Air Berlin's Q3 profit not enough to get into black CMA CGM: Asian portsneed to be more efficient Greek port may became HP distribution hub STX Pan Ocean Q3 losses rise to $88.6m Container volumes to fall, warns Asciano ICTSI gets control of Davao port Agility boosts Q3 profit by 21% GLP bets $1.4b on Brazil Yamato, ANA to jointly use Naha as Asia cargo hub Speed up box handling, warns CMA CGM exec Maersk in a million a Qingdao Port record DC networks crucial in UK supply chains US retail sales hit by Sandy, fiscal cliff worries Contents Philippine Airlines trims losses The parent of flag carrier Philippine Airlines (PAL), PAL Holdings, narrowed its losses in the second quarter of its fiscal year, propelled by higher passenger volume and lower expenses, reported BusinessWorld. The company posted a US$14. Cathay Pacific October freight up 1.9% Cathay Pacific Airways freight traffic rose 1.9 percent year-on-year in October, driven by the launch of a number of new hi-tech consumer products out of key manufacturing centres in the region, reported Reuters. Five in the running for Portugal airport operator The Portuguese government said it has short-listed five bidders for the privatisation of its airport operator ANA-Aeroportos de Portugal, after receiving proposals of up to US$3.32 billion, reported Dow Jones Newswires. Heathrow Airport calls for third runway London's Heathrow airport made its case to remain the UK's main hub by building a new runway, arguing that the only alternative that wouldn't undermine the country's competitiveness would be to build a brand new airport near the British capital, Air Berlin's Q3 profit not enough to get into black Germany's second-largest airline Air Berlin is still in the red for the first nine months of the year, despite posting a profit for the third quarter, the peak tourism season of the year, reported Dow Jones Newswires. CMA CGM: Asian ports need to be more efficient Hong Kong and other Asian ports are falling behind European port operators in terms of productivity, warned Nicolas Sartini, group senior vice-president of Asia-Europe lines at French container line CMA CGM. Greek port may became HP distribution hub Greece's biggest port is set to become a major regional distribution hub for Hewlett-Packard products, according to an agreement in principle between HP and Chinese shipping giant Cosco, reported Associated Press Newswires. STX Pan Ocean Q3 losses rise to $88.6m Lower freight rates pushed STX Pan Ocean's third-quarter losses attributable to equity-holders to US$88.6 million, deepening from the $37.4 million recorded last year, reported Business Times Singapore. Container volumes to fall, warns Asciano The chief executive of rail and ports operator Asciano, John Mullen, has warned of a ``sustained markdown'' in container volumes while difficult economic conditions were making it near-impossible for shipping operators to provide clear forecasts, ICTSI gets control of Davao port International Container Terminal Services Inc (ICTSI), through its wholly-owned subsidiary Abbotsford Holdings (AHI), has acquired subscription rights to 40 million common shares in Hijo International Port Services (HIPS), which is a joint venture Agility boosts Q3 profit by 21% Agility, a logistics provider, reported a 21 percent increase in net profit of US$34.51 million in the third quarter compared to $28.5 million a year ago. Excluding one-off items, EBITDA increased 65 percent compared to the same period last year. GLP bets $1.4b on Brazil Singapore warehouse operator Global Logistic Properties is teaming up with large institutional investors to buy US$1.4 billion of assets in Brazil as it looks to sustain its strong pace of growth, reported Reuters. Yamato, ANA to jointly use Naha as Asia cargo hub Yamato Holdings is teaming up with All Nippon Airways to use Okinawa Prefecture as a hub from which to broaden its reach throughout Asia, focusing on the cross-border online shopping market, according to Nikkei Report. Speed up box handling, warns CMA CGM exec Hong Kong and other Asian ports are falling behind European port operators in terms of productivity, a senior shipping executive has warned. Maersk in a million a Qingdao Port record The throughput of Maersk Line at China's northern port of Qingdao exceeded one million TEU in a single year for the first time. DC networks crucial in UK supply chains Companies will increasingly need to be more agile and flexible in designing their distribution networks, said Peter Ward, cargo supply chain commercial manager for DP World London Gateway. US retail sales hit by Sandy, fiscal cliff worries For the first time in three months, retail sales ticked down slightly as consumers cooled discretionary spending in the face of inclement weather and uncertainty in Washington.   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. 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