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Pace of air cargo rate improvement slows in July
The pace of air freight rate growth in the air cargo industry has slowed, however, July's volumes registered strong growth and forwarders anticipate a strong peak season. The average all-in buy rate across 28 major east-west lanes reached USD 2.64 per kilgramme, an increase of 1.5% against 2016, according to the latest Sea and Air Shipper Insight report from consultant Drewry. Drewry's East-West Airfrei ...
Shapoorji Pallonji Group bids for LNG regasification terminal
The Shapoorji Pallonji Group has submitted a bid to build an LNG regasification terminal at the Mumbai Port Trust (MbPT). Shapoorji Pallonji Infrastructure Capital Company Limited (SP Infra), a unit of the Mumbai-based conglomerate, is one of the two entities that have submitted bids to develop a floating storage and regasification unit (FSRU) that can load 3.5 million tonnes per annum (mtpa) of LNG at Mumbai Port. ...
APL to launch new Asia Latin America Express 3 service
APL has announced the addition of a new weekly Asia Latin America Express 3 (AE3-AW3) service that is now connecting China, Hong Kong, Taiwan and other key Asian markets to Mexico and the West Coast South America. "The Asia Latin America Express 3 service further enhances our Asia-Latin America service coverage, extending it in West Coast South America. Offering the most competitive transit times, the new serv ...
MOL to levy USD 500 TEU hike on cargo for southern Africa September 1
MOL has announced a general rate increase (GRI) covering cargo transported from Asia to southern Africa from September 1. The GRI will be USD 500 per Twenty Foot Equivalent Unit (TEU) and USD 1,000 per FEU, applicable for cargo carried from Asia, the Indian subcontinent and Middle East to southern Africa, including South Africa, Lesotho and Zimbabwe.
Ethiopian Airlines to purchase 59 more aircraft from now until 2025
Ethiopian Airlines (ET) plans to purchase 59 aircraft between now and 2025 under its medium-term growth plan that forecasts annual revenue will reach USD 25 billion by 2025, up from unaudited revenue of USD 2.71 billion in 2016/2017. Unveiling the expansion plan to journalists at the airline's headquarters in Addis Ababa, Ethiopia, the manager of ET-Holidays, Seble Wongel Azene, said the airline will expand its ...
Cargo traffic in AP ports hit badly
Ports in Andhra Pradesh are witnessing reduced cargo in exports and imports, due to slump in international market prices and the national policy in coal cargo. Cargo shipments have been hit hard by the weak global economic scenario. Although the target for cargo volume this year has been set at 79.96 million metric tonnes (MMT) as against last year’s target of 69.6 MMT, the five ports in Andhra Pradesh have a ...
Jaigarh Port inaugurates Edible Oil Terminal
Jaigarh Port inaugurated its Edible Oil Terminal on August 17, 2017. The occasion also marked the maiden call of edible oil carrier MT Zao Galaxy. The strategic location of Jaigarh Port, between the two Major Ports of Mumbai and Goa, gives it the advantage of servicing the vast hinterland of Maharashtra, Karnataka and Andhra Pradesh. Jaigarh Port partnered with West India Continental Oil & Fats Private Limi ...
VCT aiming at new cargoes
Visakhapatnam, the port city with the presence of the world class Visakha Container Terminal (VCT), has witnessed a variety of cargoes and is now planning to expand its horizon further, targeting new cargoes. Dr D.K. Srinivas, IRS, Commissioner of Customs, Visakhapatnam, after having taken charge recently, visited Visakha Container Terminal to understand the cargo growth potential wherein new cargoes like white goo ...
Port of Riga handles 13.8 % rise in box volumes in first 7 months of 2017
The Port of Riga container volume increased 13.8% year on year to 245,200 Twenty Foot Equivalent Unit ( TEU) in the first seven months of 2017. Latvia's biggest port throughput consisted 17.8% oil products followed by 12.2% container volume with timber coming in at 8.1% and chemicals at 7.2%. Bulk cargo accounted for 12.4 million tonnes (mt) over seven months, up 1.6% year on year. General cargo volume ...
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