Brazil fines four airlines for cargo cartel
Brazil's anti-trust regulator fined four airlines a total of US$125 million as part of an air-cargo cartel in the country, reported Dow Jones Newswires. Brazil's Administrative Council for Economic Defense, or Cade, imposed a $61.
Virgin Australia $87m in the red
Virgin Australia posted a US$87.6 million full-year net loss, blaming difficult economic conditions, strong competition and one-off costs related to its recently acquired Skywest business, reported Reuters.
Aeroports de Paris profit down 14% in first half
French state-owned airport operator Aeroports de Paris posted a 14 percent drop in first half net profit, hurt by financial charges, reported Dow Jones Newswires. Net profit in the six months ended June fell to US$166.44 million from $192.
DP World first half profit edges up 9.1%
DP World, the world's third-largest port operator, reported a 9.1 percent rise in attributable profit for the first half of the year, but warned of continued uncertainty and challenging market conditions in some regions, reported Reuters.
Creditors give relief to loss-making Zim
Debt-laden Israeli shipping company Zim said it has received support from its creditors as it continues to lose money during one of the worst and longest downturns to hit the industry, reported Reuters.
China Merchants posts interim profit rise
China Merchants Holdings (International) – which saw net profit jump 10.2 percent to US$250.
Cosco to sell more assets to stay in black
China Cosco is disposing of two more assets for US$599.23 million to its parent firm in a last-ditch attempt to avoid a third year of losses after posting an interim loss of $161.65 million.
Hyundai gets order for 10 mega ships
Hyundai Heavy Industries Co Ltd said it won a US$1.4 billion order to build 10 container ships for the United Arab Shipping Co (UASC), reported Reuters.
CMA CGM Q2 revenue down 2.4%
CMA CGM in the second quarter reported consolidated revenue amounted to US$4 billion, up 5.6 percent over the first quarter and down 2.4 percent year-on-year. The year-on-year decline reflected a 6.9 percent increase in volumes carried, to 2.
| | Ballard Pacific rides into Savannah
Ballard Pacific Resources, the primary distributor of Hyper Bicycles, has chosen the Port of Savannah as its gateway to the US southeast.
K + N delivery strike may see beer taps run dry
Deliveries of popular beers and soft drinks to about 30,000 venues could be "severely disrupted" after talks over working conditions and potential Job losses between Kuehne + Nagel and unionised workers ended without resolution, reported The Times.
CEVA opens healthcare hub in Miami
CEVA Logistics, a supply chain management company, has opened a fully compliant healthcare cold chain hub in Miami.
TNT appoints director for global networks
Effective November 1, Martin Sodergard will join TNT Express as group director of Global Networks. Martin Sodergard has extensive experience in international management in the aviation and logistics industries.
Turkey's TAV Airports posts record profits in first half
TAV Airports has posted record first half net profit of US$70.42 million, up seven percent year-on-year, on consolidated revenues of $753.39 million, up 17 percent, reported Mist News.
Emirates plans to double US destinations
Emirates Airline plans to more than double its network of US destinations in the next three to five years to a total of 15 US cities, up from seven currently, a company official said, reported Reuters.
Qantas long-haul revamp turns loss into profit
Qantas Airways swung to a modest annual profit after Australia's biggest airline squeezed costs at its long-haul unit and received compensation from Boeing Co for a series of late plane deliveries, reported Dow Jones Newswires.
Air New Zealand net profit doubles
Air New Zealand continues to outperform it peers, reporting its best net profit since before the global financial crisis, reported Dow Jones Newswires. The carrier's net profit more than doubled to US$146 million in the last financial year, from $55.
Aer Lingus judgment is a set–up, says Ryanair boss
Ryanair boss Michael O'Leary said his airline was the victim of a "set–up" after the UK Competition Commission ruled it must reduce its stake in rival Aer Lingus to below five percent, reported The Daily Telegraph.
Bombardier plans $3.4b joint venture with Russia
Bombardier has unveiled a series of tentative agreements to build and sell its Q400 turboprop in Russia, as the Montreal manufacturer continues to push for inroads into the hard-to-crack country and other emerging markets, reported National Post.
Judge blocks LAN eviction from airport hangar
Chilean Latam Airlines Group won a battle against the Argentine government after a judge blocked an order for the company's LAN Argentina unit to vacate its hangar in the central Buenos Aires airport, reported Dow Jones Newswires.
China Shipping posts $206m loss in first half
China Shipping Container Lines (CSCL) reported a first-half net loss of US$206 million, based on Chinese accounting standards, compared with a net loss of $208.94 million in the year-earlier period as it battled oversupply and weak international trade.
Felixstowe port plans to extend berth
Felixstowe, the UK's biggest container port in terms of capacity, plans to extend one of its berths so it can handle two of the new generation of extra-large container ship at the same time, the latest indication of growing competition among British
Shanghai port first half profit up 13%
Shanghai International Port (Group) Co saw its first-half net profit rise 13 percent year-on-year, driven by higher port-handling volume and investment gains, reported Dow Jones Newswires.
Hyundai Heavy set for $1.4b ship sale
South Korea's Hyundai Heavy Industries is close to winning an order worth about US$1.4 billion to build 10 huge container ships for the United Arab Shipping Company (UASC), a source close to the matter said, reported Reuters.
DHL expands Indonesian footprint
DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL, is expanding its operations in Indonesia with the opening of two additional offices to help further serve the six new economic corridors under development by Indonesia.
Greyhound to offer door-to-door service
Beginning September 3, Greyhound Package Express, the company's expedited shipping division, will offer door-to-door service within the 48 contiguous United States.
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