Transpacific air cargo rates pick up in August as firm demand continues
Air cargo rates on the transpacific trade picked up in August as the busy market conditions continued and companies begin to eye what is expected to be a strong peak season. The latest figures from the Baltic Exchange Airfreight Index (BAI) calculated by TAC Index show that rates from Hong Kong to North America in […]
Schirmer sentenced in Polar fraud case
Former Polar Air Cargo employee Robert Schirmer has been sentenced to 18 months in prison after pleading guilty last year to taking part in a scheme to defraud the US cargo airline out of millions of dollars. Ex-executive Schirmer pled guilty last October to one count of conspiring to commit wire fraud and honest services […]
WFS Holland to swoop on Menzies World Cargo Amsterdam
Worldwide Flight Services (WFS) Holland will purchase Menzies World Cargo (Amsterdam) as it looks to expand its presence at Schiphol Airport. The SATS Group-owned cargo handler said that its operation at Schiphol was close to capacity and the deal would bring extra warehouse space to enable it to capitalise on its “strong local customer relations […]
Port of Melbourne secures site for massive expansion
Port of Melbourne, Australia’s largest general cargo and container port, has secured a long-term lease of additional land from the Victorian Government to improve the state’s supply chain efficiency. The port will lease approximately 290,000 sq m of the former Melbourne Markets site until 2066 in line with its existing 50-year port privatisation lease. This […]
DOF Subsea lands $13m in deals for DSV in APAC region
Norway’s DOF Subsea has won a contract extension and a new contract award for one of its vessels in the Asia-Pacific region. A contract extension was awarded to the 2011-built dive support vessel Skandi Singapore. The vessel will be fully committed through the fourth quarter of 2024 with further options available into the first quarter of 2025. DOF […]
Global schedule reliability drops to 52.1% in July
Sea-Intelligence has released issue 156 of the Global Liner Performance (GLP) report, providing schedule reliability data up to July 2024. According to a statement, this report is extensive, covering schedule reliability across 34 trade lanes and over 60 carriers; however, this press release will focus on the global highlights. “Source: Sea-Intelligence.com, GLP Report, issue 156” […]
COSCO constructs twelve 14,000 TEU methanol-fueled vessels
On 29 August 2024, COSCO SHIPPING Heavy Industry and COSCO SHIPPING Container Lines signed a contract in Shanghai for the construction of twelve 14,000 TEU container ships featuring dual-fuel methanol propulsion. This latest order underscores COSCO SHIPPING’s commitment to green and low-carbon development, as it strives to build an environmentally friendly fleet and minimize the […]
New director for Challenge Technic
Challenge Group has appointed Petur Thor Gudjonsson as the new technical director at Challenge Technic in Reykjavik, Iceland. Gudjonsson brings over 20 years of experience in line maintenance, having worked with companies including Air Atlanta, SO Tech, Wow Air, and GMT. His expertise spans both Boeing and Airbus fleets. “Since joining the Group, Petur has […]
FPSOs bounce back with $12bn in orders after a quiet year
After a year without a significant FPSO order, the orderbook has recovered with $12bn for three units ordered since the second quarter of 2024. Petrobras has ordered the P-84 and P-85 FPSOs for the Atapu and Sepia fields respectively for $8.16bn from Seatrium. The Singapore firm was the only bidder after COOEC withdrew its proposal […]
COSCO forms partnerships with Bosch and Wallem Group
COSCO SHIPPING Logistics and Supply Chain Management recently solidified a strategic alliance with Bosch (China) by signing a memorandum of understanding in Chongqing. This agreement paves the way for creating a strategic committee dedicated to leading a skilled team that enhances collaboration between the two entities. The partnership aims to foster comprehensive cooperation within the […]