Latest news from Heavy Lift & Project Forwarding International Magazine

Cargolux posts raised profits despite stale marketplace

May 1 - Cargolux Airlines International earned a full year net profit of USD8.4 million in 2013, compared with a USD35.1 million net loss in 2012.

In spite of moderate recovery in the last quarter, the airfreight industry continued to operate in a difficult environment for most of 2013, and capacity growth still outstripped demand, which resulted in an industry-wide decline in yields and load factors.

Despite these difficult trading conditions, Cargolux grew its activities and increased volumes in a bid to maximise contribution to fixed costs. Total revenues rose 14.4 percent to USD1.9 billion from USD1.7 billion in 2012, while tonnes sold increased 16.7 percent to 753,848 from 645,759 in 2012.

Cargolux also expanded its fleet with three new Boeing 747-8Fs and retained a Boeing 747-400F that was initially planned to exit the fleet during 2013. This brought the airline's fleet to 20 aircraft at the end of 2013, in contrast to the year's budget which foresaw a fleet of 16 aircraft only.

Cargolux's president and ceo, Dirk Reich, said that the airline does not expect market conditions to improve significantly in 2014, but its priority is to grow and expand its global network and it looks forward to reaping the first tangible rewards from cooperation with its new shareholder HNCA.

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: 112
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: 131
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: 124

Heavy Lift Across The World

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