Latest news from Heavy Lift & Project Forwarding International Magazine

Cargolux confirms Chinese investment

December 13 - The Board of Directors of Cargolux Airlines International has approved entering into a Commercial Cooperation Agreement with Henan Civil Aviation and Investment Co Ltd (HNCA).

The airline says that this resolution paves the way for a close and mutually beneficial partnership between Cargolux and the airline's future Chinese investor following the recent decision by the State of Luxembourg to sell its 35 percent stake to HNCA pending formal approval by the relevant Chinese authorities.

"This transaction will enable Cargolux to be well positioned to profit from the trade movements generated by one of the world's most dynamic and fastest developing economies and a province with an accelerating domestic appetite for goods transported by air', stated Paul Helminger, chairman of the board of directors of Cargolux.

According to reports earlier this week  in the Chinese media, the total value of the transaction is USD231 million.

The 35 percent stake, which is currently held by the Luxembourg government, was sold by Qatar Airways Co in December 2012, which bought the stake from the government in 2011.

The reports indicate that Zhengzhou Xinzheng International Airport will become Cargolux's second hub globally after the transaction is completed, and the freight carrier will open new routes from Luxembourg to Zhengzhou, the capital of Henan province, with four flights weekly.

www.cargolux.com

Heavy Lift | News

Modulift performs locomotive lift thumbnail image

Modulift performs locomotive lift

May 24 - Modulift has provided equipment to lift a steam locomotive, built in 1926, on behalf of Swanage Railway, a tourist attraction in the UK.
Views: 444
Fesco and RZD team up to link Europe and Asia thumbnail image

Fesco and RZD team up to link Europe and Asia

May 24 - Fesco Transportation Group and Russian Railways Logistics (RZD Logistics) are launching a Trans-Siberian multimodal service to expedite the delivery of goods from Japan to Europe via Russia.
Views: 581
USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
Views: 504
POSH to launch maritime training centre in Taiwan thumbnail image

POSH to launch maritime training centre in Taiwan

May 24 - POSH Kerry Renewables – a joint venture of PACC Offshore Services Holding (POSH) and Kerry TJ Logistics – has signed a memorandum of understanding (MoU) to develop Taiwan’s first specialised maritime training centre. 
Views: 443

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.