Air Freight News :
Lufthansa's cargo
business is in the red again.
Lufthansa’s cargo and logistics
division has slipped to its sixth quarterly operating loss in a row as market
overcapacity and weak demand continued to blight financial performance.
The German airline group’s logistics division, which includes Lufthansa
Cargo, time:matters and other cargo related businesses, recorded a third
quarter earnings before interest and tax (ebit) loss of €17m, although this is
an improvement on last year’s €22m loss.
The last time the airline group managed to record a quarterly ebit profit
was in the first quarter of 2015, making this its sixth quarterly loss in a
row.
Meanwhile, revenues for the period declined by 9% year on year to €506m.
Lufthansa reported market overcapacity and weak demand and said the revenue
decline was also down to pricing pressure. Results were helped by a reduction
in segment capital expenditure during the period, which declined by 50% to €5m.
Are conditions
finally improving for the air cargo industry?.
· The air cargo industry finally has reason to celebrate as market conditions
strengthened in September and there are hopes of further improvements in
October.
Analyst WorldACD's September market round-up
shows that air cargo volume demand increased by 5% year on year in September —
a level of increase not seen for two years. US dollar yields for September
increased by 1.4% month-over-month.
“With such an increase in total weight transported, a further worldwide
yield improvement over previous months, and industry sources claiming that
October will be even better, one could be forgiven for thinking that the
industry shows signs of improving health,” the analyst said.
Data from airlines in
Europe and the US
also improved in September.
At the recent Air Cargo Forum there was much speculation as to what had
caused the improvements.
Heathrow
adds second freighter operation as ABC launches Moscow service.
·
AirBridgeCargo Airlines (ABC) has added a new freighter
service connecting Heathrow Airport with
Moscow's Sheremetyevo using one of its Boeing 747 freighters.
The service will fly every Thursday and Saturday and will offer a capacity
of more than 100 tonnes of cargo per flight. It will utilise slots not popular
with passenger airlines.
Heathrow said the new service will be welcomed by exporters that currently
face a capacity shortage on long-haul destinations, especially Asia where
consumer spending is expected to reach $32trn by 2030.
ABC added that the new operation was its 14th European destination and
would leverage demand for British goods in mainland Europe and southeast Asia.
Investment fund
buys ULD specialist CHEP.
·
CHEP Aerospace Solutions, the Unit Load Device (ULD)
management specialist, is being sold to EQT Infrastructure II of
Sweden.
Brambles, the Australian-based parent
company of CHEP Aerospace Solutions, said that the transaction with the
infrastructure fund will complete during November 2016.
CHEP Aerospace Solutions offers pooling, management, maintenance and repair
of ULDs used for luggage and cargo.
Today, the business owns and manages approximately 100,000 ULDs, and serves
more than 90 airlines across a network of 48 global services centres and 420
airports, supported by over 550 team members.
Sea Freight News :
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FLASH NEWS : APL Joins the World’s Largest
Container Shipping Alliance
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Time of reckoning for
shipping as IMO sets road map to control emissions
Live Mint
Last week, the International Maritime Organization (IMO), the shipping industry’s global regulator, took two significant steps—one, to cut the sulphur content of fuel oil used by ships and, second, to introduce a new data collection system on fuel oil used by ships—in a clear road map to help shipping meet its environment obligations as it looks to align the industry with the global climate change goals. Shipping’s current share of the world’s carbon dioxide (CO2) emissions is a reflection of an industry that transports almost 10 billion tonnes of cargo a year. It may be out of sight, but cargo shipping (about 70,000 ships) keeps the world economy running. About 90% of global trade is moved by cargo ships, which are collectively responsible for about 2.2% of the world's total green house gas (GHG) emissions. |
GST Council finalises
peak rate at 28%
Business Standard
The Goods and Services Tax (GST) Council on Thursday decided upon a 4-slab tax structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent, with lower rates for essential items and the highest for luxury and de-merits goods, many of which would also attract an additional cess. A proposal by some states, including Kerala, to have special GST rates on luxury and sin goods was not accepted. On Friday, the Council will take up the prickly issue of administrative control over assessees. The Centre has proposed “cross-empowerment” whereby both the Centre and states will have powers to scrutinise and audit all assessees. Finance Minister Arun Jaitley told reporters after Thursday’s meeting that about 50 per cent of the consumer price index basket will be taxed at zero rate, with a view to keep inflation under control. |
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Global situation not
to blame for fall in exports
The Hindu
While India’s share in global exports is declining, those of Bangladesh, Vietnam and China are still rising despite the adverse environment, according to the report. India’s merchandise exports had shrunk in 20 of the last 21 months. Pointing out that many obstacles lie in India’s path to raise its export competitiveness, Crisil said to harness its full potential, India needs to remove bottlenecks, capture the space vacated by China, integrate faster with the world and improve international competitiveness of its key exports. However, in the paper titled ‘Bifocal, please: ‘Make in India’ needs to lean on both exports and domestic demand,’ Crisil also said that “while India needs to bend over backwards to find export avenues, its domestic market is on the cusp of an expenditure boom.” |
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Odisha officer's
killing may hit FDI in maritime sector, warns MANSA
Business Standard
The Mumbai and Nhava Sheva Ship Agents Association (MANSA) on Wednesday cautioned that the blatant killing of a high-ranking port official in Paradip, Odisha, could hit international trade, commercial activities and foreign direct investment in the maritime sector. In a letter, MANSA drew the attention of Prime Minister Narendra Modi, the shipping and law ministries to the presence of mafia elements in Paradip Port who needed to be booked. The letter came in the wake of the broad daylight gunning down of 45-year-old Mahendra Kumar Swain (Babul), the General Manager of Seaways Group in Paradip, when he was driving to office on October 26. The murder sent shockwaves in the shipping fraternity across India. Condemning the incident, MANSA urged the central and Odisha governments to act sternly and book the culprits to send a strong message to the mafia and rogue elements active in Odisha port. |
Five global container
companies write to Modi over FCL dues
Economic Times
A group of five global container lessors have written to Prime Minister Narendra Modi seeking help to recover dues from Forbes Container Line (FCL), a defunct Singapore-based Non Vessel Operating Common Carrier (NVOCC) and subsidiary of the India-listed Forbes & Co, owned by Indian conglomerate Shapoorji Pallonji group. FCL shut down earlier this year with unpaid dues of $20 million to the lessors, according to Bijoy Paulose, managing director of VS&B Containers Llc, a UAE-based lessor and one of the petitioners to Modi. The amount includes unpaid lease rentals and value of the containers leased to FCL, which are now unrecoverable, he added. A spokesman at Forbes & Co said it would "refrain from responding to any queries in the matter," FCL operated a fleet of 10,000 containers, of which 9,000 were leased from international leasing companies. |
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Maersk keen on Sri
Lanka port container terminal
Economy Next
Denmark’s Maersk Group, which operates the world’s biggest container shipping line, is interested in developing a deep water terminal in Colombo’s new south port, a senior official said. The group already has a stake in the island, having a stake in a private container terminal and its shipping line making regular calls at Colombo, said Julian Michael Bevis, senior director, group relations, South Asia, Maersk Group. “The geographical position of this country is second to none with its location at the heart of the Indian Ocean,” he told a forum for visiting Danish investors interested in Sri Lanka. “Provided the regulatory environment will allow it an unrivalled opportunity for businesses to work with the government to develop logistics and hub services in and around the India Ocean.” |
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Nepal eager to
develop water connectivity with India
The Dollar Business
Nepal on Wednesday expressed its eagerness to develop water connectivity with India through the rivers Ganga and Kosi that will link the Himalayan nation with the ports in West Bengal. The matter was raised by Vice President of Nepal, Nanda Bahadur Pun, during his meet with President of India, Pranab Mukherjee. Earlier, Mukherjee also held a meeting with the President of Nepal, Bidya Devi Bhandari. Mukherjee is on a three-day visit to Nepal, the first visit in 18 years by an Indian President. “All aspects of connectivity were discussed but one interesting thing that came up during this time and this was raised by the Vice President and that was connectivity by water. He was talking about connectivity from Kolkata through Hubli, the Ganga and the Kosi and this can come about if Kosi project develops,” Indian Ambassador to Nepal Ranjit Rae told journalists after the meeting. |
India needs to focus
on domestic market to boost mfg: Crisil
Echo India
Stressing on the need to focus on the domestic market to boost manufacturing, rating agency Crisil Thursday said the country needs to do a lot more to encourage the high-employment sector. "India can nurture growth in its manufacturing sector only if it strikes a balance between export-led and domestic demand-led growth. And that will require relentless efforts on improving the competitiveness of our manufacturing sector," it said in a report. The report, which comes days after India was ranked low in the global ease of doing business rankings, said manufacturing sector cannot be competitive in face of difficulties. These include inadequate physical infrastructure like reliable power and water, inflexible labour laws and an "opaque" land acquisition system, it said. Even after the goods are produced, they face problems because of the inefficiencies in the system like logistical bottlenecks which results in higher costs, the report said. |
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India keeps strong
trading position with UK: Maersk Line
Money Control
India has maintained its strong trading position with the UK, registering a 6 percent year on year growth in exim container trade volumes for the first half of this year, container shipping company Maersk Line said today. "As UK's third-largest trading partner, India's exim (export-import) container witnessed 6 percent growth in first half of 2016, which is three times the growth we saw in H1 2015," it said in a statement. This growth happened despite a 2 percent decline in the UK's exim container trade volumes with the rest of the world during the same period, it added. In terms of exports, India's top containerised commodity categories of garments, stones and tiles, kitchenware and appliances, and metal all registered stronger growth this year as against the last, it said. "Mundra emerged as the number one port in terms of export volume traffic to the UK," said Franck Dedenis, Managing Director, India, Sri Lanka & Bangladesh Cluster, Maersk Line. |
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Revised drawback
rates to boost textile exports
The Hindu
Textile exporters and manufacturers here have welcomed the revised duty drawback rates announced by the Union Government recently. According to a press release from Southern India Mills’ Association, the textile and clothing sector which was under stress in the global market will now be able to improve exports. “The revised duty drawback rates encourage value addition,” said M. Senthil Kumar, chairman of the association. He appealed to the Government to extend two per cent MEIS and three per cent IES export benefits for cotton yarn as the spinning sector is facing under utilisation of production capacity. The State levies should be refunded for all products of textiles and clothing, as done now for garments, he said. Chairman of Cotton Textiles Export Promotion Council R.K. Dalmia said in a press release that the drawback rates and caps have been increased for made ups (cotton and blended). |
GST likely to hit
silk fabrics, garments exports
Business Line
According to Rajendra Kumar Kapoor, President of the Silk Association of India, most of the manufacturers and exporters in this sector belong are most micro, small and medium enterprises (or MSMEs) and unless necessary exemptions are introduced, exports would suffer. Kapoor, during an interactive session organised by the Bharat Chamber of Commerce, pointed out that exports shall be treated as ‘zero rated’ supply and hence there will be refund of input tax credit. But, the refund requires submission of at least 37 returns annually; it will be a cumbersome process that will lead to blockage of funds and impact working capital flows. Similarly, he maintained that the silk industry and sometimes the job workers are required to buy accessories like specific threads and miscellaneous items for value addition. |
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Ocean Alliance
Announces Day One Network
Maritime Executive
The members of the new Ocean Alliance, CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line, have announced their proposed “day one” trading network. The Alliance is the largest shipping alliance in the world, and the partners will operate 40 services on the East-West trades with around 100 ports of call and almost 500 port pairs. Supported by a fleet of nearly 350 vessels with about 3.5 million TEUs in total capacity, the Alliance says it will comply with the requirements of global supply chains while providing higher sailing frequencies, better transit times and greater coverage in terms of loops, ports of call and port pairs. Members of the Alliance are working with authorities internationally to secure the necessary regulatory approvals to commence operation in April 2017. As the main contributor to the Alliance, CMA CGM will be deploying a fleet of 119 vessels with a 35 percent capacity share. |
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CMA CGM upgrades its
offers with 6 unmatched seasonal services from Morocco to Russia, Europe and
the Middle East
Hellenic Shipping News
MA CGM, a leading worldwide shipping Group, is pleased to announce the deployment of its upgraded transportation offer to Morocco. It is specifically designed for the export of citrus fruits and vegetables. 6 maritime services will provide Moroccan producers unparalleled export solutions with ten weekly calls in Moroccan ports In conjunction with the beginning of the export season in Morocco for citrus fruits and vegetables, CMA CGM and its subsidiary OPDR place a unique offer on the market. ·Six maritime services allow linking of Morocco directly with the main areas of consumption ·10 departures a week are offered from Morocco ·With 3 direct weekly lines, CMA CGM offers the best service to Northern Europe ·CMA CGM offers the best service to Russia with a direct weekly call on AGAX service ·With AGAPOV and NADOR MED EXPRESS, CMA CGM offer a unique service to the market, connecting Morocco directly with Southern Europe |
S. Africa Becoming
Preferred Destination for Ship Arrests
Maritime Professional
At the recent annual Maritime Law Conference (MLA) held at Arabella in the Western Cape, various prominent government and international speakers took to the floor to debate and discuss national global maritime phenomena including inter alia; the progress in handling international oil spillages, port congestion, salvage and vessel arrests. Progress and unity was evident amongst the highly respected panel of speakers including Captain Rufus Lekala (TNPA Chief Harbour Master), Captain Alan Reid, representing P&I interests, Sobantu Tilayi (South African Maritime Safety Authority) and Dumisani Ntuli (Department of Transport) who spoke of enhanced engagement amongst each department and coordinated efforts to increase efficiencies. |
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