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Logistics

Mohammed bin Rashid Attends Launch of DP World Cargospeed

Chennai: Port Wings News Network: Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum attended the launch of DP World Cargospeed, a new global company created through a partnership between global trade enabler DP World and Virgin Hyperloop One, to provide …

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Airport Profits Continue To Grow in Australia

Chennai: Port Wings News Network: Brisbane, Melbourne, Perth and Sydney airports all significantly increased their profits from aeronautical activities in 2016-17, with profits per passenger also rising, according to the ACCC’s annual Airport Monitoring Report. The four airports earned a combined $757.6 million in operating profits (EBITA) from aeronautical activities …

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Sabari Logistics Launches Third Warehouse Facility in Chennai

Chennai: Port Wings News Network: The Chennai-based Sabari logistics has inaugurated its third warehousing facility built on 52,000 sqft at Ariyalur village near Ponneri on 21 April. Mr Balakumar, Assistant General Manager in Canara Bank, inaugurated the facility in the presence of Mr S Padmakumar, Chairman of Sabari Group, Mr …

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CMA CGM Acquires 25% Stake in CEVA Logistics

Chennai: Port Wings News Network: CMA CGM, a worldwide leading shipping company, announces it has reached an agreement to acquire an equity stake of nearly 25% of CEVA Logistics AG (“CEVA”), a global leading player in the logistics sector. CMA CGM has committed to subscribe for mandatory convertible securities of CEVA …

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Global Logistics Player Panalpina Improves Profitability

Chennai: Port Wings News Network: In the first three months of 2018, international freight forwarding and logistics company Panalpina improved profitability compared to the same period of last year. Panalpina reported an EBIT of CHF 24.4 million (YTD 2017: CHF 16.4 million) and a consolidated profit of CHF 16.6 million …

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APM Terminals Launches Integrated Cold Chain Solutions in Chennai

Chennai: Port Wings News Network: APM Terminals inaugurated its first state-of-the-art cold storage warehouse in India, which will ensure reliable and stable transport of cargo, including goods such as fish, fruits, medicines, and specialty chemicals, which require strict temperature contol throughout the supply chain. The facilities will provide refrigerated container …

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For Container Freight Stations, Existential Crisis Looms

Chennai: Port Wings News Network: Surging share of direct port delivery (DPD), especially at the Jawaharlal Nehru Port Trust (JNPT), means growth in the container freight station (CFS) industry in India would be facing an existential crisis sooner than later, starting with flatlining of revenues this fiscal. The industry, with …

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Goa to be Developed as Cargo Hub: Minister Suresh Prabhu

New Delhi: Port Wings News Network: Central government in the collaboration with state government and private partners is working on to promote Goa as a tourism destination as well as a cargo hub, Union Minister for Civil Aviation Shri Suresh Prabhu. He was addressing media persons at Dabolim Airport, Goa …

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Air Freight Up 6.8% in February but Protectionist Risks Remain

Chennai: Port Wings News Network: The International Air Transport Association (IATA) released demand growth results for global air freight markets for February 2018 showing a 6.8% increase in demand measured in freight tonne kilometers (FTKs) compared to the same period last year. Adjusting for the potential Lunar New Year distortions …

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