GARMENT exports from Gujarat state in northwestern India, which once accounted for a big share of air freight, have fallen, but a range of new products still fill air cargo holds, reports Emirates Airlines.
Emirates operates 10 cargo flights carrying 150 tonnes a week from Ahmedabad, had a 13 per cent share of garments export in 2008-09, which fell to three per cent last year, reports India's Daily News & Analysis.
But Emirates says an increase in exports of herbs, vegetables, fruit, pharmaceuticals, chemical and engineering products keeps the air export volume flow even.
"On one side, garment exports have come down and on the other side, vegetables, in particular herbs and fruits have picked up momentum. Even the exports of pharmaceuticals, chemicals and engineering goods have increased," said Emirates India-Nepal cargo chief Keki Patel.
Said Emirates Gujarat cargo chief Mahendra Pokhriyal: "It looks like the manufacturing of garments has shifted to Bangladesh and Sri Lanka. Thus, we have seen a drastic fall in the exports of garments from Gujarat. Earlier, a pair of jeans and other apparel, made in Gujarat, were exported to US and European markets. Now, this has fallen."
Overall the Indian export scene looks healthy compared to the global outlook, said Emirate cargo vice president Pradeep Kumar. "In 2011, the trade didn't go on expected lines. On the average, the air freight has been growing at a rate of six to 6.5 per cent. But due to the crisis in Europe and US, air freight growth globally remained stable throughout the year. We expect some growth in the second half of the year."
Source Shipping Gazette - Daily Shipping News
AMERICAN Airlines Cargo plans to purchase nine Boeing 777-300ERs and up to 100 B787s in the next five years, with a delivery of a 777-300ER scheduled to begin in November despite filing for bankruptcy late last year.
The new aircraft are vital for realising the AA Cargo's plans to develop long-haul routes from North America, with the primary focus on Asia and Latin America. This means the carrier is in expansion mode despite filing for bankruptcy in late November 2011.
Speaking as a discussion panellist for the "Doing Business with Latin America" session at AirCargo 2012, AA Cargo president Dave Brooks said that as part of the restructuring process, the airline's officials are aiming for 20 per cent growth over the next seven years.
"And I would venture to say that virtually all of that growth will come internationally, and it will come in the markets that are growing: Latin America and Asia," Mr Brooks, reported Roswell Georgia's Air Cargo World.
But it was too early to work out the exact details for the routes and that expansion could still be a few years away, he said.
Mr Brooks said he had high hopes for the airline's routes to South America given that the carrier has established a hub at Miami International Airport since the mid-to-late 1980s, which he said, has served the airline "extremely well".
"A number of [Latin American] countries - whether it was for cargo on American or cargo on another carrier's airplane - basically got their economic engines started as a result of having air access out of the region, and we certainly played a part in that," said Mr Brooks.
In South America he sees business opportunities in tapping Peru's thriving asparagus export industry and Chile's flourishing seafood industry.
Mr Brooks also highlighted that pharmaceuticals is another profitable area for the cargo carrier as he believes demand for airlift of pharmaceuticals will grow in the next few years, particularly, as drug patents expire and demand for generic drugs will increase.
Other areas to focus on after pharmaceuticals will be the transportation of perishables, fruits and vegetables and seafood in Latin America.
The carrier is, on the other hand, concerned about the impact that high fuel prices have on air freight.
"The trick to making money in the air cargo business as a carrier is to make sure that you're handling the right freight," Mr Brooks said. "You have to recognise the difference between good air freight and crappy air freight."
Source Shipping Gazette - Daily Shipping News
HONG KONG listed port operator China Merchants Holding (International) (CMHI) posted a 5.2 per cent year-on-year net profit decline in 2011 to HK$5.56 billion (US$716.07 million) despite a 33.9 per cent increase in revenue to HK$40.97 billion.
"CMHI 2011 profits were only slightly down despite significantly higher income tax obligations - thanks to throughput growth and efficiency improvements in a year of cost escalation and global economic uncertainty," said company chairman Fu Yuning in filing to the Hong Kong stock exchange.
Reflecting this, last year's operating profit - EBITA - increased 10.4 per cent to HK$8.31 billion buoyed by a container throughput increase of 9.6 per cent, and a 10.4 per cent bulk cargo increase to 325 million tons. Revenue from this area came to HK$15 billion, an increase of 13.5 per cent.
Net profit contributed by CMHI's container making unit, China International Marine Container (Group), increased 28.2 per cent while operating profit was up 37.5 per cent year on year.
CMHI wholly or partly owned port projects handled 57.2 million TEU in 2011, an increase of 9.6 per cent year on year. Of this, volumes in mainland China came to 50.82 million TEU, a 10.3 per cent increase. CMHI's Hong Kong and overseas port projects handled 6.46 million TEU, an increase of four per cent. Bulk cargo volume increased 15.5 per cent year on year.
Port projects all showed different levels of growth except for western Shenzhen and MTL which suffered declines.
The Qingdao Project enjoyed an 88 per cent increase in box volumes to 2.07 million TEU. Shanghai's SIPG hit a record high for global ports by handling 31.74 million TEU, an increase of 9.2 per cent year on year.
Ningbo Daxie handled 1.75 million TEU, an increase of 12.1 per cent year on year. Chu Kong River-Trade Terminal Company Limited, in which the group acquired a stake at the beginning of the year, had a throughput of 910,000 TEU.
The TICT terminal in Nigeria, the group's first overseas port project, handled 378,000 TEU, an increase of 28.1 per cent and profit increased substantially by more than 60 per cent over 2010.
"The groundbreaking ceremony at the Sri Lanka Colombo South Port Container Terminal project with a total investment amount of more than US$500 million was held December 16," said the CMHI statement.
"Construction is proceeding and it is expected the first container berth will be put into operation by July 2013 and the construction of all four port berths will be completed by April 2014," the company said.
In 2011, the group's bonded logistics and cold chain operations achieved a revenue of HK$2 billion, up 127.9 per cent year on year. The EBIT derived from bonded logistics and cold chain operations amounted to HK$581 million, up 31.7 per cent year on year. The gradual development and growth of the above operations will provide a strong support to the existing port operations.
"Benefiting from the support of preferential policies for bonded port zones in China, the group saw a faster growth in the number of enterprises moving into the bonded logistics park," said the company statement.
"In 2011, the port ancillary logistics enterprises of the group located in the three bonded port zones of Shenzhen, Qingdao and Tianjin maintained a good growth trend," said the CMHI statement.
Source Shipping Gazette - Daily Shipping News
ACCORDING to the analysis released by Shanghai port authority, Shanghai will continue to stay as the world's largest container port at 33 million TEU and for overall tonnage, Xinhua reports.
Last year, Shanghai lifted 31.74 million TEU, making the first port in the world to have a container throughput more than 30 million TEU.
The port's container through put dropped 3.3 per cent year on year to 2.62 million TEU in January, but increased 13.1 per cent to 2.19 million TEU in February.
It expects the situation to improve despite weak market conditions globally.
Source Shipping Gazette - Daily Shipping News
DANISH shipping giant, Maersk Line, the world's largest carrier, has announced it plans to increase the rates of its northern Europe (including Russia and Scandinavia) to Asia (including Japan) services by US$400 per TEU from May 1.
The carrier said earlier in Weekly Highlights that it has ceased all North Europe-Asia bookings until May and also decided to introduce super slow steaming to its AE1, AE6, AE7, AE9 and AE10 eastbound North Europe-Asia services.
Some were critical of the Maersk cargo booking halt. Ben Hackett of Hackett Associates, a shipping analyst who produces the Global Port Tracker, said: "They are using it to bump the freight rates up. I think it is more an unwillingness to carry cargo at certain rates."
Source Shipping Gazette - Daily Shipping News
ISRAELI's Zim Integrated Shipping Services (Zim) has announced a 2011 financial loss of US$397 million, down 835 per cent from a profit of $54 million in 2010.
In the fourth quarter of 2011, the carrier reported a loss of $96 million, worsening from a $66 million loss in the previous quarter. Zim made a profit of $151 million in the last quarter of 2010.
Zim is the world's 16th largest carrier with a two per cent market share, according to Alphaliner's Top 100 League Table.
Source Shipping Gazette - Daily Shipping News
THE general strike throughout Spain over "stringent" austerity measures to meet obligations in the Euro debt crisis is expected to cause disruption to freight operations and supply chains at airports and city centres.
Protesting unions hope to bring the country to a halt by timing the strike a day before the austerity budget is to announced, reported International Freighting Weekly. Newly elected Prime Minister Mariano Rajoy has himself called the financial package "very, very stringent".
The budget is widely expected to include a EUR50 billion cuts in public spending, with public sector workers subject to pay freezes and privatisation moves.
Separately, Iberia pilots also plan to stop flights on Monday and Friday from April 9 to protest against the launch of budget airline called Iberia Express.
Source Shipping Gazette - Daily Shipping News
DANISH shipping giant Maersk Line has gained the Ukraine's National Maritime Rating nomination of Gold Container due to boosting container shipping to the country's ports by 31.3 per cent to 145,517 TEU in 2011.
The rating listed French carrier CMA CGM second with 128,094 TEU, a 20 per cent increase and in third place was Swiss-based MSC with an increase of 10.5 per cent to 116,099 TEU.
Source Shipping Gazette - Daily Shipping News
SOUTHEASTERN Fujian province spent CNY9.14 billion (US$1.45 billion) on traffic infrastructure during the first two months of this year, the largest sum among eastern China provinces and the third in China, Xinhua reports.
The province spent CNY3.5 billion on road projects, taking up 18 per cent of the annual schedule, up 11 per cent year on year. As of end of February, there are 78 road projects totalling 1,037 kilometres under construction, accounting for 58 per cent of the annual target.
The CNY1.15 billion was invested on port and shipping projects. More than CNY1.03 billion was spent on terminals and CNY110 million was spent on navigational channels. Fifteen major projects, including the berth No 8 to No 10 at port of Xiamen's Zhaoyin port will cost CNY380 million.
Source Shipping Gazette - Daily Shipping News
PORT of Qinzhou, in southwest China's Guangxi Autonomous Region, lifted 66,000 TEU in January and February, 15.8 per cent more than in the same period a year ago, Xinhua reports.
In the same period, the port recorded a foreign trade value of US$420 million, up 21.5 per cent year on year.
Source Shipping Gazette - Daily Shipping News
SOUTHWEST Guangxi Autonomous Region plans to spend CNY14 billion (US$2.21 billion) on waterway traffic projects this year with Beibu Gulf port capacity to be increased to 160 million tonnes, while Xijiang River's cargo capacity to rise 100 million tonnes, Xinhua reports.
This year, Guangxi plans to build the No 403 to No 407 berth at the port of Fangcheng and the No 3 and No 4 berth in the Beihai's Tieshan port area. Meanwhile, Guangxi will also accelerate construction at the port of Qinzhou's Jingujiang River navigational channel and the No 1 to No 3 berth at Dalanping port area.
Fangcheng port's berth project will take up 41 per cent of the total investment. Beihai port's berth project will take up 78 per cent. Qinzhou's Jingujiang river navigational channel will account for 8.5 per cent. Dalanping port area's berth project will take up 3.9 per cent.
In the meanwhile, Guangxi plans to complete the construction of Xijiang River's distribution network, port Nanning's Niuwan operation area phase 1 of the project and the port of Laibin's Bingang operation area in phase 2 of the project this year.
Source Shipping Gazette - Daily Shipping News
DUBAI's DP World has announced that its global portfolio of marine terminals in 2011 delivered a better than expected profit of US$751 million, an increase of 67 per cent year on year, the company reported.
"This improvement in profitability is a reflection of our strategy, which sees us focus on the faster growing emerging markets and more profitable origin and destination (O&D) and gateway cargo," said DP World chairman Sultan Ahmed bin Sulayem.
The company said in a statement posted on its website that profit attributable to shareholders was $683 million as strong profit growth from operations was supplemented with a one-off gain, including the profit on the monetisation of 75 per cent of its Australian terminals.
Before separately disclosed items of $459 million, 2011 profit amounted to $532 million, up 18 per cent compared to a profit of $450 million in 2010.
Consolidated volumes for the 12 months ending December 31, 2011 amounted to 27.5 million TEU, up an underlying nine per cent year on year, on an underlying 14 per cent revenue growth to $2,978 million. Underlying EBITDA growth was 19 per cent compared to the previous year at $1,307 million, with an adjusted EBITDA margin of 43.9 per cent.
"During 2011, DP World benefited from the improvement in global container volumes whilst retaining a very clear focus on generating additional revenue, driving productivity and managing costs," the company said.
Each of the group's three regions delivered a superior performance when compared with the prior year. In the Middle East, Europe and Africa region, EBITDA grew nine per cent year on year to $861 million. In the Asia Pacific and Indian subcontinent, EBITDA increased by 26 per cent to $322 million.
The Americas and Australia region delivered EBITDA of $203 million or, excluding the deconsolidation of the five Australia terminals, on an underlying basis, delivered an EBITDA growth of 37 per cent.
Source Shipping Gazette - Daily Shipping News
FRENCH container shipping group CMA CGM has been recognised for its ongoing commitment towards providing quality services and innovation after receiving two awards.
The company was named "International Carrier of the Year" for the second year running by one of its major customers, ASDA, an British subsidiary of the American retail giant Walmart.
It has also been named the Best Partner of the Year 2012 by the Samsung group.
"Samsung expressed its recognition of the important role played by the group towards improving management of its supply chain and supporting its global expansion," a statement from the shipping line said.
On behalf of ASDA UK, logistics manager Lee Hodgkin said: "The CMA CGM group has given us valuable assistance with its innovative solutions. Of note is that their unwavering support has led to the provision of a rail service, unique to us, from Southampton to the north east England, speeding up transport services."
Source Shipping Gazette - Daily Shipping News
NOL Group, the Singapore-based shipping and logistics company, named Olivier Lim, chief investment officer at Singapore's CapitaLand, to its board of directors from April 12.
"We are pleased to add an executive with the skill of Olivier Lim to the board," said NOL chairman Cheng Wai Keung.
Said NOL director Kwa Chong Seng: "We will benefit greatly from his experience as a leader in business and finance."
Mr Lim spent six years as CapitaLand's CFO before becoming chief investment officer in early 2012. Before that, he led the Real Estate Unit in Corporate Banking at Citibank in Singapore.
Said Mr Lim: "NOL is a company with worldwide reach in transportation and logistics. I am grateful for the opportunity to work with the board and management team to help guide it into the future."
Mr Lim is the non-executive chairman of Australand Holdings Limited, and a non-executive Director of CapitaMalls Asia Limited, CapitaMall Trust Management Limited, CapitaCommercial Trust Management Limited and Raffles Medical Group Ltd. Mr Lim also serves as a board member of Sentosa Development Corporation, and as the non-executive chairman of its subsidiary, Mount Faber Leisure Group Pte Ltd.
Source Shipping Gazette - Daily Shipping News
JAPANESE shipping major NYK was recently selected for the UK-based FTSE Group's FTSE4Good Index, a major socially responsible investment (SRI) index that has included NYK for many years.
The FTSE4Good Index is one of the two leading indexes used by investors concerned about corporate social responsibility criteria meeting investment standards of ethical activities. The other major index is the Dow Jones Sustainability Index.
Selection in the FTSE4Good Index is based on independent international standards of corporate environmental sustainability and social responsibility covering areas of environmental management, human rights, supply chain labour standards, bribery prevention and climate change. NYK has repeatedly received a top rating in the "Environmental management" category.
Earlier this year, NYK was recognised as one of the 2012 World's Most Ethical Companies for the fifth consecutive year. NYK will continue to take an active role in social issues, including the conservation of the environment, to contribute to the achievement of a better global society, said a company statement.
FTSE Group is jointly owned by London's Financial Times and the London Stock Exchange. The FTSE4Good Index is compiled and managed by the FTSE Group, which undertakes related operations involving stocks, bonds, and real estate, on a global scale. The group has offices in London, New York, Tokyo, and nine other major cities, providing services for clients in 77 countries.
Source Shipping Gazette - Daily Shipping News
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