CANADIAN-owned PD Ports Group has won yet another supplier award from one of the UK's major retailers, ASDA (originally Associated Diaries), this year walking away with the overall prize for Carrier of the Year 2012, the company announced.
It is the third consecutive year that the PD Ports Group, which includes PD Logistics, has picked up an ASDA Carrier award but the first time it has received the overall prize. The award is not open for entries but is given by ASDA to the most outstanding supplier in the retailer's supply chain based on performance and excellence in service.
ASDA launched the awards three years ago to help it continue to raise standards amongst its logistics suppliers.
Said ASDA supply chain manager Alex Linton: "The award is well deserved by the whole team at PD Ports. It is to recognise the effort that the whole team puts in to supporting our business. They really demonstrate a partnership approach, delivering solutions when we need them."
After receiving the award from ASDA's supply chain director, Gavin Chappell, PD Ports' key accounts manager, Kim Catterick, remarked: "This is such an outstanding honour.
"All the other prizes handed out at the ceremony were based on written submissions but to be recognised by ASDA for our performance throughout the year without having to put together an entry is an even greater distinction.
"We pride ourselves on the wide range of services that PD Ports supply to ASDA, from our container terminal at Teesport, Logical Link - the shipping service we provide between Felixstowe and Teesport, and our logistics services, right through to our portcentric business model."
In awarding the prize to the PD Ports Group, ASDA had taken into consideration the fact that its Teesport terminal had undergone a major upgrade and capacity increase programme last year but despite this, the retailer had not been subjected to any service failures or disruptions.
It was also impressed by the cross docking/re-working services offered at the Group's warehouse facilities in Billingham and Felixstowe, the exemplary shunting service between the port and the ASDA warehouse at Teesport, and the excellent road haulage services.
Source Shipping Gazette - Daily Shipping News
SINGAPORE's Changi Airport handled 143,900 tonnes of cargo in February 2012, representing an increase of 12.4 per cent compared with the same month last year.
February's result marked a rebound after cargo movements decreased by 7.1 per cent in January year on year, which airport authorities attributed to the Lunar New Year holidays.
A statement said: "Disregarding the impact of the Lunar New Year holidays, air freight movements grew by two per cent year on year during the January-February 2012 period.
Passenger traffic at the airport rose by 11.2 per cent to 3.77 million in February.
The result was driven by strong travel demand across all regions, with traffic between Singapore and the Middle East growing 20 per cent.
Passenger numbers travelling to the Americas, Europe, south Asia and southeast Asia also grew by double digits.
Aircraft landings and take-offs increased by 13.1 per cent in February to 24,900 flights, corresponding with the growth in passenger traffic.
Source Shipping Gazette - Daily Shipping News
LUFTHANSA Cargo has posted a 24 per cent decline in operating profit to EUR249 million (US$329 million) drawn on revenues of EUR2.9 billion, down 3.5 per cent.
Saying this was the company's second best performance, the best being achieved in 2010, chairman and CEO Karl Ulrich Garnadt attributed the good result to "cost discipline, a broad product range and flexible capacity steering dictated by demand" despite shrinking demand in China and India.
"Lufthansa Cargo increasingly switched capacities from Asia to North America and included new and attractive destinations in its route network. On the back of those measures, the cargo carrier significantly boosted revenues and tonnage," Mr Garnadt said.
Mr Garnadt also said the company's successful investment and a strong focus on quality were vital factors. "That is evidenced by our investment in Lufthansa Cargo's cool centre for temperature-controlled shipments at Frankfurt Airport," he said.
Lufthansa Cargo launched the "Lufthansa Cargo 2020" programme last year, which produced a blueprint for long-term strategy, including orders for new Boeing 777 freighters, the IT platform upgrade, plans for a new logistics centre in Frankfurt to replace the existing 30-year-old facility and other long-term projects.
On the future, Mr Garnadt said: "In the present year, Lufthansa Cargo is anticipating severe pressures ensuing from the ongoing night-flight ban in Frankfurt. All in all, however, the company is expecting a good operating result once more at year-end."
Regulators are causing severe headwinds, he said. "The EU's unilateral stance on [carbon] emissions trading is notably hitting European airlines and distorting competition. The lack of uniformity in global security standards in air cargo as well as the slow certification of known consignors in Germany are threatening to inhibit growth," he said.
But of all problems the company faces, the Frankfurt night flight ban is the worst. "There is a real danger of Frankfurt losing its position as the best and most attractive air freight hub in Europe. A blanket night-flight ban of six hours daily would severely disadvantage the competitive standing of companies operating at the Frankfurt base," he said.
Unlike the recent past, Lufthansa Cargo said it would now focus on core business. Last year, the cargo carrier invested in some side businesses, such as in Traxon Europe, a provider of electronic solutions for airlines, and LifeConEx, a specialist company in temperature-controlled logistics.
Source Shipping Gazette - Daily Shipping News
THE International Air Transport Association (IATA) has announced a downgrade to its worldwide industry outlook for 2012 because of rising oil prices, says a communique from its Geneva headquarters.
IATA expects airlines to turn a global profit of US$3 billion in 2012 for a 0.5 per cent margin, it said. "This $500 million downgrade from the December forecast is driven by a rise in the expected average price of oil to $115 per barrel, up from the previously forecast $99," said the IATA statement.
What avoided a more severe downgrade, IATA said, was greater optimism over the Eurozone debt crisis, improvement in the US economy, cargo market stabilisation and slower than expected capacity expansion.
Said IATA director general Tony Tyler: "The risk of a worsening Eurozone crisis has been replaced by an equally toxic risk - rising oil prices."
IATA said cargo markets stabilised at low levels in the fourth quarter of 2011. The pattern of rising sea freight and low level of air cargo is linked to Asian economies buying bulk commodities while western consumer confidence is weak. Reduced pessimism among purchasing managers is expected to support a moderate upturn in air cargo during the second half, said the statement.
Asia Pacific carriers did best. Better than expected performance in 2011, particularly by the Chinese carriers, saw an upward revision of 2011 profits to $4.8 billion, from the previous estimate of $3.3 billion.
For 2012, the region's airlines are expected to again deliver the largest absolute profit - $2.3 billion - which is $200 million more than estimated in December. Higher fuel costs will more than halve profits this year, but the region's relatively strong economies will continue to generate more rapid growth in travel and cargo than others, IATA said.
While a major deterioration of the Eurozone crisis has been averted, many European economies are in deep recession which will lead to continued weakness in both the cargo and passenger business. At the same time air travel is being hit by taxation and the cost of the EU carbon tax, IATA said.
North American carriers are expected to deliver a profit of $900 million, down from the previously forecast $1.7 billion. Airlines in this region will see the smallest deterioration among the major regions, as a result of the very small increases in capacity expected, IATA said.
Middle East carriers are expected to see profits of $500 million, up from the previously forecast $300 million. Latin American profits are expected to be $100 million, unchanged from the previous forecast. African carriers are still expected to experience losses of $100 million, unchanged from the previous forecast.
Source Shipping Gazette - Daily Shipping News
KOREAN Air has become the official sponsor of the 17th Asian Games to be held in Incheon in September 2014 and as highest-ranking sponsor will underwrite air tickets, luggage and most areas related to air transport as well as participate in the construction of Wang San Marina which will be used during the games.
Korean Air signed the MoU to officially sponsor the 2014 Incheon Asian Games at the Olympic Council of Asia (OCA) advisory board meeting in Bangkok, Thailand in the presence of chairman and CEO of the Hanjin Group, Yang Ho Cho; president of OCA, Sheikh Ahmad Al Fahad Al Sabah; and president of the organising committee of the 2014 Incheon Asian Games, Yong-soo Kim.
Korean Air chairman Cho's goal to improve the level of Asian sports has led him to lend his and his airline's support to the 2014 Incheon Asian Games. Mr Cho's passion has gained him a position to steer the winning bid committee for the 2018 PyeongChang Olympics in Korea, and is the only Asian on Prince Albert of Monaco's Peace and Sports foundation.
He will work as an advisor to the 2014 Incheon Asian Games organising committee, and foresees that the 2014 event will promote tourism in his country and contribute to the Korean economy.
Source Shipping Gazette - Daily Shipping News
WSS Middle East wins World Cargo Alliance award22.03.2012 (Ships Service)Wilhelmsen Ships Service (WSS) has won the prestigious title of 'Best Partner 2011 - Middle East', which was presented by the World Cargo Alliance (WCA) at their annual conference in Bangkok earlier this month.Commenting on the award, Flemming Andersen, Area Logistics Manager MiddleEast at WSS said: "We are honoured to have taken this title, and I wouldlike to extend my sincere congratulations to the maritime logistics team inthe Middle East for their splendid work throughout 2011. Next, our ambitionis not only to win the Best Partner - Middle East award, but to go for theGlobal Partner trophy as well".
WSS currently works with more than 2,800 independent freight forwarders inmore than 600 cities and ports worldwide, enabling it to act as a trulyglobal freight forwarder, and compete confidently with much largermulti-national logistics companies.
More than 900 WCA members attended the WCA partner conference from 4-11March. WSS representatives from the Middle East, India, Norway and Pakistanparticipated in the event. " This is a great place to meet our peers fornetworking, build new business relationships and strengthening existing tiesthrough more than 20,000 one-to-one meetings and practical workshops", saysFlemming.
Before the conference, every WCA member was invited to vote and elect the'Best Partner' within the network; namely, the company which they considerto be most supportive in terms of business generation, professionalcommunication and world-class service delivery. WSS has been a member ofWCA, a premier global network of elite independent international freightforwarders, since 2003 and previously won the 'Best Partner' award in 2009.
Source Wilhelmsen
Copenhagen Malmö Port (CMP)'s cruise activities hit a record high in 2011 with the number of ships increasing by 20%. Vehicle handling also increased dramatically. After a positive trend lasting several years, with major vehicle makers using CMP as an import hub, the company now expects further volume increases in 2012. Despite the unsettled market situation, CMP produced a good result in 2011 and is continuing to expand.
CMP's cruise activity volumes increased dramatically in 2011. 370 ships put into port, of which 368 in Copenhagen and two in Malmö. The corresponding number for CMP in 2010 was 308 ships. At the same time, the number of passengers increased to 820,000. This is nearly 25% more than in 2010, when the number of passengers was 662,000.
"The development reflects the popularity of Copenhagen and the strong growth in the cruise industry. The positive trend is expected to continue. An additional nine cruise ships will enter service in 2012," says MD Johan Röstin.
During 2011, CMP handled roughly 419,000 vehicles, an increase in volume of 30% on 2010. Vehicle import sales increased by 24% to SEK 105 million (SEK 85 million in the previous year). During the year, Honda and Subaru began using Malmö as a vehicle distribution hub. CMP now expects the volume to continue to increase in 2012. Another two Asian vehicle makers have shown great interest in establishing themselves here and more are being approached.
"The trend is for large global manufacturing companies to create distribution hubs from which they can supply a large region, for example the Baltic Rim countries. Interest in CMP, the biggest vehicle port in Scandinavia, remains high. We also already function as a hub for stainless steel and transit oil. Few ports can offer such good conditions in the form of area and logistics solutions," says Johan Röstin.
The increase in volume of vehicle imports and cruise traffic contributed to CMP's sales increasing by 8% in 2011 to SEK 727 million (SEK 675 million). The operating profit was SEK 106 million (SEK 116 million).
"This is a satisfactory result, considering the ongoing recession and the unsettled market situation. The fact that we continue to make large strategic investments shows that our shareholders believe in CMP and our ability to contribute to positive development in the region," says Johan Röstin.
Major investments in 2011-2014:
The extension of Norra Hamnen in Malmö was completed in 2011. This investment means that the company can handle five times more goods than before. The City of Malmö and the EU are also behind the project. With CMP they invested around SEK 900 million in the new state-of-the-art transport and logistics centre.
The three new goods terminals are the first stage in a long-term development plan for the Norra Hamnen area. The aim of the next stage, Malmö Northern Harbour Business Park, is to attract companies in sectors such as manufacturing, processing and logistics services. In the long term, Malmö Northern Harbour Business Park is planned to have an area of approximately 850,000 square metres.
The Prøvestenen area in Copenhagen has been extended by a further 18 hectares and 650 metres of new quay. Prøvestenen is centrally located and has long been an important terminal for oil and dry bulk products for the Copenhagen area.
A new cruise quay is being built in Copenhagen and is planned to be ready for the 2013 cruise season. Copenhagen is already the biggest, most popular cruise destination in Northern Europe. Via the new quay, which can accommodate three large cruise ships at the same time, CMP will further develop the fast-growing cruise traffic. The cruise quay will be 1,100 metres long and 70 metres wide.
Source Copenhagen Malmö Port
Lufthansa Cargo is offering its customers worldwide a new express service for very urgent shipments. Courier.Solutions provides the fastest transit and shortest delivery times in the Lufthansa Cargo portfolio plus constant surveillance and custody of consignments and is designed for customers with extremely time-critical and sensitive cargo. There are no weight limits: entire pallets or containers can be transported with the Courier.Solutions service.
Lufthansa Cargo is offering this new product in close cooperation with time:matters, a Lufthansa Cargo Group company that specialises in Special Speed Logistics services. Customers can drop off their shipment at Frankfurt Airport up to 90 minutes before departure. At various other airports, the minimum drop-off time is one hour before departure. At Frankfurt, the transit time is only 60 minutes, compared with 180 minutes for td.Flash, while the transfer time at Munich is a mere 50 minutes. To this end, Lufthansa Cargo has developed special processes to ensure that shipments are accompanied by dedicated staff at all times. During transit at Frankfurt and Munich, shipments are in the continuous custody of members of staff and, whenever required, are transported direct from one aircraft to the next.
Monika Wiederhold, Vice President Product Management at Lufthansa Cargo says Courier.Solutions is the perfect answer for customers who are looking for the fastest and most reliable service possible. “With the shortest handling times, personal courier accompaniment during transit and round-the-clock, proactive shipment surveillance,” she explains, “we can offer the speediest assistance when trade fair items or medicines, for example, are urgently needed on the other side of the world.”
Courier.Solutions can now be booked through all Lufthansa Cargo offices. Bookings via other Lufthansa Cargo distribution channels such as call centres and electronic platforms, will be possible in the course of this year.
Sourse Lufthansa Cargo AG
2012-03-22
Capacity increase opens up prospects for more cargo
Kiel, March 22, 2012: Work on extending operational areas at the Port of Kiel’s Norwegenkai Terminal has now been completed. Construction was officially brought to a close at a ceremony today involving the State of Schleswig-Holstein’s Minister of Economics, Science and Transport, Jost de Jager, the Mayor of the Federal State Capital of Kiel, Peter Todeskino, and Dr Dirk Claus, Managing Director of the SEEHAFEN KIEL GmbH & Co KG. Jost de Jager said “the extension of Norwegenkai means that the potential of the state capital’s port has been increased yet again. Urgently needed new interim stowage space is now immediately available to accommodate rising cargo traffic to and from Norway. The extension also opens up new opportunities to attract further service business”. The Norwegenkai expansion covers an area of 9,250 m², which serves as interim stowage, parking and transport space for trucks and trailers as well as containers. Dirk Claus said “the north eastern expansion meets the demands of our customers for more space and means we can further optimise cargo unit interim stowage operations”
The SEEHAFEN Kiel acquired the industrial site adjacent to the north eastern part of Norwegenkai in 2008 and took it over at the end of 2009. Work began in Spring 2011 on integrating the site into Norwegenkai and involved the demolition of old buildings, site infilling and securing as well as the fencing and illumination of the area according to ISPS regulations. Dirk Claus said “the acquisition and integration of the adjacent property was a unique opportunity to expand the Norwegenkai site in order to secure potential for an extension of cargo volumes to and from Norway”. The north eastern expansion involved an investment of about EUR 1.2 million, which does not include land purchase costs. Jost de Jager said “I’m happy that the state was able to be involved in this project within the framework of its Business Development Programme. We want to continue our successful promotional policies in the future, particularly in the port infrastructure sector”.
The SEEHAFEN KIEL operates Kiel’s commercial port on behalf of the Schleswig-Holstein state capital, of which it is a 100% subsidiary. Kiel boasts three terminals for ferry and cruise ships - all of them in inner-city locations. The ferry ships of Color Line – “Color Fantasy” and “Color Magic” - operate out of the Norwegenkai Terminal and link Kiel daily with the Norwegian capital Oslo. Last year about 1.1 million passengers and 800,000 tons of cargo were handled at Norwegenkai. In addition to passengers and their cars, 35,000 trucks as well as trailers and several thousand import/export vehicles were also loaded or unloaded at the terminal. The facility also boasts a direct rail link for cargo and has a second fully equipped ship berth available with an hydraulic RoRo ramp, suitable for handling cargo ferries of up to 200 m in length. “The extension of operational space at Norwegenkai means that port-side conditions have now been created for the handling of an additional cargo ferry”, said Dirk Claus.
Source port of Kiel
2012-03-22
APM Terminals Moin signed off by authorities to bolster economy, competitiveness
San Jose, Costa Rica - APM Terminals’ Moin Container Terminal (TCM) Concession Agreement with the Government of Costa Rica has received final endorsement from Costa Rica’s Comptroller General Office. With this, APM Terminals will be able to start the 18-month implementation phase performing all the required studies and final design work which once completed, will be submitted to the Government for approval. The next stage will then be dredging the access channel and the turning basin and the start of reclaiming the island terminal site.
”APM Terminals is very pleased with the pace and dedication with which the Costa Rican government has focused on advancing this project. The administration has demonstrated this is a top priority and we intend to follow through on inaugurating the first phase of this project on schedule in 2016” said Paul J. Gallie, Managing Director, APM Terminals Moin, S.A.
The 33-year concession will require an estimated investment of USD $992M from APM Terminals for the design, finance, construction, operation and maintenance of the world-class container terminal in the Caribbean port of Moin, Limon Province, representing the largest single infrastructure project in the country. Currently the Caribbean port handles up to 80% of the country’s international commerce.
“We are a global specialist in terminal development and operation who have built similar projects on schedule, so we’re very confident we can exceed the Costa Rican people’s expectations with this concession. Modern container terminals play a pivotal role in improving the efficiency of the logistics chain which results in a lower door-to-door transportation cost. This will have a key positive impact, especially for the fruit export trade.” assured Gallie.
The overall goal of the project is to develop and provide world-class marine terminal container handling services, increasing the competitiveness of Costa Rica’s international commerce.
Designed as a gateway terminal to handle Costa Rica’s increasing containerized exports and imports, the TCM is ideally located just 10 hours by sea from the Panama Canal and coincides with the Canal expansion to handle the larger vessels cascading into the region. Larger, modern vessels offer economies of scale, environmental efficiencies and additional reefer stowage.
The terminal is expected to generate over 1,000 jobs and stimulate rapid economic development in the entire Caribbean region of the country. Further commercial developments and Free Trade Zone investors, and manufacturers looking for an attractive labor pool as well as low cost logistic distribution points will be attracted to the port hinterland.
TCM project milestones:
18 August 2010 -- Bid submitted
01 March 2011 -- Concession Award notification
Conditions precedent completed
30 August 2011 -- Contract signed with Costa Rican Government
21 March 2012 -- Endorsement by Comptroller General
18 months Transition period for studies and final design
Q4 2013 -- Construction Start Order
Q4 2016 -- Inauguration of first phase
2042 -- Estimated date of full build out
In the first phase the TCM will consist of a 40 hectare area of reclaimed land off the Caribbean coast with 600 m of quay, 2 berths, 1.5 km breakwater, 16m deep access channel / 14.5 m alongside and 6 super-post Panamax ship-to-shore gantry cranes. It will be a world-class facility with carbon neutral energy generating sources, electric cranes, environmental management and container scanning systems, safety procedures and expert training of all personnel.
At full build out, the TCM will have an area of 80 hectares with 1,500 m of quay, 5 berths, 2.2 km breakwater, 18 m deep access channel / 16 m alongside and 9 or more super-post Panamax ship-to-shore gantry cranes.
Source APM Terminals
Certificates awarded to KONSGBERG liquid cargo handling training simulators
Kongsberg Maritime’s Neptune Cargo Handling Simulator has been approved to the latest Det Norske Veritas (DNV) standards. The Class A approval, received early March 2012, covers the ship models available within the system and joins recent DNV certification for Konsgberg Maritime’s Engine Room and Navigation Simulators.
In addition to approval for its VLCC Load Calculator system, Kongsberg Maritime has received DNV certification for six ship models available in the KONGSBERG Neptune Cargo Handling Simulator. These are: LPG Carrier, LNG-M (Membrane), LNG-S (Spherical), Chemical Carrier, Product Carrier and VLCC.
“It is important to ensure all of our simulators have approvals to the highest standards. It supports us in meeting customer and industry demand for the highest quality training tools whilst demonstrating that our systems are designed to operate under the most up to date legislation,” comments Terje Heierstad, Product & Technology Manager, Kongsberg Maritime.
The KONGSBERG Neptune Cargo Handling Simulator also meets the requirements of STCW section A-II/1, A-II/2, A-II/3, A-III/1, A-III/2 and A-V/1 that states the requirements for planning and ensuring safe loading, care during the voyage and unloading of cargoes as well as maintaining seaworthiness of the ship regarding trim, stability and stress.
All models within the Neptune Cargo Handling Simulator are based on real ships and benefit from Kongsberg Maritime’s position as a leading supplier of integrated automation and cargo handling systems. Several different simulator configurations are available where the cargo control room may be represented by any combination of interactive mimic panels, operational panels, consoles and/or desk-top stations.
“Because Neptune is based on the same core software, it is extremely flexible. It enables our customers to specify the exact configuration they need and can be easily upgraded or expanded according to changing needs,” adds Steffen Jensen, Product Advisor, Cargo Handling Simulators, Kongsberg Maritime.
Source Kongsberg Maritime
The Grimaldi Group has been recognised by General Motors as a 2011 world class automotive Supplier of the Year for its significant contributions as part of the company’s global product and performance achievement.
The award, received by the Neapolitan Group for the eleventh time, was handed to Costantino Baldissara, Commercial and Logistics Director of the Group, during the 20th annual awards presentation ceremony, held on the 13th of March at the Detroit Institute of Arts.
“The Supplier of the Year award winners’ partnership, dedication and commitment to consistently perform above expectations played an important role in GM’s success in 2011,” said Bob Socia, GM vice president, Global Purchasing and Supply Chain. “In 2012, we will continue to improve supplier relations to achieve a world class supply chain focused on quality, capacity management and total cost.”
“We are delighted to have been chosen again as the best supplier for our outbound logistics services in Europe” said Emanuele Grimaldi, Managing Director of the Grimaldi Group. “Our Group’s goal is to continuously upgrade the quality of services offered to General Motors by introducing innovative logistics solutions based on state-of-the-art maritime transport”, concluded Mr. Grimaldi.
The 82 Supplier of the Year winners for 2011 were chosen among world suppliers of GM, and represent the best the automotive industry offers in innovative technology, superior quality, outstanding launch support, crisis management and competitive total enterprise cost.
The GM Supplier of the Year award started 20 years ago as a global programme which recognises the significant contributions of General Motors’ suppliers as part of the company’s global product and performance achievements. The winners are chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives.
General Motors and Grimaldi have been business partners for the last 35 years. The Neapolitan Group supplies logistics services for the transport of vehicles produced by the Detroit-based car manufacturer between North Europe, the Mediterranean, West Africa, North and South America.
Source Huginonline
2012-03-22
CargoNet, a leading source of information about cargo theft risk, today announced the key findings of a detailed survey of cargo theft activity in the United States in 2011. The report shows a rise in cargo theft reporting and underlines that the main driver of this trend is the improvement in collaboration and data sharing between the insurance and transportation industries and law enforcement.
Formed by Verisk Analytics (Nasdaq:VRSK) and the National Insurance Crime Bureau in 2009, CargoNet developed and manages a national cargo theft database and secure information sharing system. Although the primary focus of the system is to enhance the immediate operational sharing of data between theft victims and law enforcement, the growth of the database allows a deep and detailed analysis of cargo theft in the United States.
CargoNet's 2011 annual cargo theft report, previously distributed to CargoNet members, provides an analysis of the cargo theft problem in the United States. The report includes information reported to CargoNet on the type of commodities most often stolen, theft incident locations, and additional analysis such as the time of day and day of the week when cargo is most often targeted based on more than 300 data points. The 2011 annual cargo theft report can help law enforcement and supply chain professionals reduce risk by pinpointing areas of vulnerability and providing guidance to improve supply chain security protocols. The cargo theft report can be downloaded by visiting http://www.cargonet.com/cargo_theft_reports/2011.pdf.
"This report is an example of how far we've come in public-private collaboration efforts at a time when budgetary pressures make such strategic alliances more important than ever," said Tony Canale, vice president of Verisk Crime Analytics. "We have much further to go, but the momentum is building."
CargoNet recorded 1,215 cargo theft incidents. Of the 1,215 cargo theft incidents recorded, 116 incidents involved base metals, 229 involved electronics, 105 involved apparel and accessories, and 200 involved prepared foodstuffs and beverages.
The most cargo theft incidents occurred on Fridays (227 incidents recorded), Saturdays (202 recorded), and Sundays (198 recorded) at locations such as truck stops, carrier/terminal lots, and unsecured parking lots.
Source Huginonline
Shares of Virginia based biotechnology company, CEL-SCI Corporation (AMEX: CVM) appear to be technically breaking out to the upside again. Interest and volume in the stock has been on the rise and some recent fundamental developments appear to be fuelling the price rise.
Primarily focused on Oncology, CEL-SCI seems to have most of its value is locked in Multikine, its lead drug candidate currently undergoing late-stage clinical trials as a first-line treatment in advanced primary head and neck cancer. Globally, about 600,000 new cases of head and neck cancer - 5%-6% of total cancer cases - occur every year. With five-year survival rates of just 30% and the need for better treatments, regulators will be keen to promote new treatments for this killer disease.
Since Multikine is administered before traditional forms of cancer treatment - chemotherapy, radiotherapy and surgery - it may generate a better immune response because it galvanizes lethal action against cancerous cells when the immune system is at its strongest. Besides ensuring the treatment's effectiveness, this mechanism of action is also likely to score highly with regulators during the review process.
An estimated US market size of US$3.2 billion for head and neck cancer treatment implies that there is ample elbow room for new treatments such as Multikine to rake in dollars by the millions. In fact, due to its first-line indication and solid clinical data, CEL-SCI is confident that the pipeline candidate can gobble up two-thirds of the market upon launch. Multikine's orphan drug status means that it will enjoy a seven-year marketing exclusivity upon launch, thereby enabling it to squeeze in a pricing advantage upon commercialization in the US. Critically, the immunotherapy will need to demonstrate effectiveness in just one pivotal study to reach the market, which can save CEL-SCI precious R&D dollars.
In December 2010, after having breezed through early and mid-stage trials with impressive results, Multikine strode confidently into an ambitious 880-subject, 48-centre Phase III clinical trial. The trial was designed to compare Multikine as an adjuvant therapy with the standard-of-care treatment versus the standard-of-care alone to treat primary advanced head and neck cancer. To protect its limited cash resources, CEL-SCI has adopted a smart strategy of granting licensing rights for Multikine on a country-specific basis to partners such as Israel-based Teva Pharmaceutical Industries (NASDAQ: TEVA), who are willing to pick up part of the expenses tab for conducting the trial. CEL-SCI anticipates that excluding its clinical trial partners - Teva and Taiwan-based Orient Europharma - conducting the Phase III trials will entail a cost of US$26 million. The Company expects to fund these expenses through new partnering agreements and additional capital injection - such as the
US$5.76 million raised through an equity issue in January 2012.
Data from the Phase III study - the largest head and neck cancer study ever conducted - is expected to be comprehensive enough to facilitate a clear "go/no go" decision for regulators. To understand Multikine's prospects of getting a thumbs-up sign from regulators, it would be apt to take a quick peek at results from previous clinical trials. A 22-subject Phase II study on Multikine as a fist-line therapy followed by surgery and radiotherapy resulted in an overall survival rate of 63.2% after 3.5 years from surgery compared to a mere 47.5% for 7,294 subjects in 55 historical clinical trials on other drug candidates for the same indication. The study also found that a mere three-week regimen of Multikine resulted in a sharp 50% reduction in tumor cells, with 12% of the subjects being cancer-free. CEL-SCI expects to conclude the Multikine Phase III clinical trials by May 2015. Given the time lag expected for data read out from this humongous trial, the immunotherapy may be launched in the second half of 2016. Gazing beyond the horizon, Multikine's label could be expanded to include treatment of other cancers such as breast, skin, bladder etc.
With so much attention on its Oncology franchise, it is very easy to overlook CEL-SCI's nascent infectious diseases business platform - enabled by its proprietary LEAPS technology. LEAPS-H1N1 - a Phase I candidate from the LEAPS stable - is being tested for treating hospitalized H1N1 patients and could even find use as a broad-spectrum influenza treatment to target different strains of the Type A influenza virus (e.g. H3N1, H5N1). CEL-SCI's other pipeline candidates under the LEAPS program are currently in pre-clinical testing - for Rheumatoid Arthritis, Herpes, Malaria and Viral Encephalitis. However, CEL-SCI's investors may presently be seeing value only from the clinical advancement of Multikine, treating the infectious diseases program as an out-of-the-money call option on the stock.
CEL-SCI has been whip-lashed by the markets since Multikine entered late-stage clinical trials, but investors are starting to take notice of the firm's execution and leaks about early clinical observations in Phase III appear to be attracting more attention from both speculators and pharmaceutical partners.
CEL-SCI's management seems to be wading cautiously and quitely through the waters at present - a strategy that could provide a rich pay-off for the long-term investor - and possibly, earlier if it attracts acquisitive interest.
Source Huginonline
- With vessel designs for 22,000 TEU capacity vessels now drawn up, Crane & Engineering Services Managing Director Halfdan Ross suggests quay solutions at TOC Asia Conference.
APM Terminals Crane & Engineering Services’ Managing Director, Halfdan Ross, discussed solutions to the challenges presented by the latest and future generation of Ultra-Large Container Vessels (ULCV) that confront port and terminal operation and design at the TOC Container Supply Chain Asia Conference in Hong Kong.
Addressing the topic “Terminal Planning & Operations: Driving New Performance Efficiencies”, Mr. Ross examined issues and solutions applicable to quay cranes intended to accommodate the larger vessels entering into service in the global container fleet, as well as the design or reinforcement of the quays themselves.
“While none have been ordered yet, studies have been completed on the feasibility of constructing containerships with a 22,000 TEU capacity” noted Mr. Ross, adding “so planning for crane and other infrastructure support to accommodate such vessels and their container volumes is a very necessary exercise for any major hub port”.
As of February 1st there were 153 containerships on order with capacities in excess of 10,000 TEUs, including 20 of the 18,000 TEU capacity EEE Class vessels ordered by Maersk Line, the first of which is expected for delivery next year. There are currently 121 vessels of 10,000 TEU capacity and above in service.
“There are issues of structural stiffness, weight, visibility and wind load which all must be taken into account with cranes of such dimensions, along with the question of upgrading existing equipment or installing new cranes entirely” explained Mr. Ross.
Improved engineering, camera-assisted and remote control of the crane operations were some of the solutions presented, though increased power requirements may also pose obstacles, particularly in emerging market areas with power generation or supply issues.
CES has been playing a major role in maintaining the readiness of the APM Terminals Global Port and Terminal Network for handling ULCVs such as the EEE Class vessels at key load centers and hub facilities.
“The point is that ultra-large vessels are already in service, and even larger vessels will follow, and so the time to prepare the necessary terminal and quay infrastructure is now” said Mr. Ross.
Source APM Terminals
The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian
|
|