APM Terminals Pipavav Declares Financial Performance for Q1

Mumbai: Port Wings News Network: APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on 8 August 2019 announced the financial results for the quarter ended June 30, 2019. According to a media statement, the company reported a net profit of INR 564 million for Q1FY20 as against INR 471 million in …

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Mormugao Port Launches Tree Plantation Drive at Sada Junction

Panaji: Port Wings News Network: Mormugao Port Trust has embarked on a massive tree plantation drive in Mormugao and its surrounding areas as part of our commitment towards Environment Protection Shri Milind Naik ,Minister of Urban Development, graced the function of plantation drive on 3 August 2019 at the Sada …

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Air Freight in Decline for Eighth Consecutive Month: IATA

Chennai: Port Wings News Network: The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 4.8% in June 2019, compared to the same period in 2018. This marks the eighth consecutive month of year-on-year decline in …

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Tirupur Exporters Association Hail RBI’s Reduction of REPO Rate

Chennai: Port Wings News Network: Hailing the reduction of policy Repo Rate by 0.35 % from 5.75% to 5.4%, Shri. Raja M Shanmugham, President, Tirupur Exporters Association (TEA), appreciated the Monetary Policy Committee decision to maintain the accommodative stance of Monetary policy stance. Shri. Shakthikanta Das, Governor, RBI, on 07 …

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ICTSI, NorthPort Among Manila’s Top Taxpayers

Chennai: Port Wings News Network: The City of Manila has recognized global port operator International Container Terminal Services, Inc. (ICTSI) and subsidiary Manila North Harbour Port, Inc. (NorthPort) as among the city’s top business taxpayers for fiscal year 2018. ICTSI was named the city’s second highest business tax contributor, and …

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Hapag-Lloyd Delivers Significantly Higher Half-Year Result

Chennai: Port Wings News Network: Hapag-Lloyd has concluded the first half of the year 2019 with a significantly higher operating result than in the same period of the previous year. Earnings before interest and taxes (EBIT) increased to EUR 389 million (H1 2018: EUR 91 million). The Group net result …

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Editorial: Commerce Minister Swings Into Action

Port Wings, 7 Aug 2019: As the automobile sector reporting massive job losses and reduction in sales, economic slowdown is clear and visible. However, Commerce Ministry is taking its best foot forward to keep up the EXIM sector alive and kicking by improving growth in logistics sector. To make it …

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New Appointments to Baltic Index Council

Chennai: Port Wings News Network: The Baltic Exchange on 5 August 2019 announced two new appointments to the Baltic Index Council (BIC), the governing body which provides effective scrutiny of the Baltic on all aspects of its benchmark determination process in accordance with the IOSCO Principles of Financial Benchmarks. Baltic …

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