Business news – Page 135
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Cargolux profits tumble in volatile 2016
May 1 - Cargolux Airlines carried almost 1 million tonnes of cargo on its global freight network during a volatile 2016. However, the carrier's profit fell some 90 percent year-on-year from USD49 million in 2015 to USD5.5 million in 2016; revenues fell by
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Construction at Cuxport
April 27 - The deepwater terminal of Cuxport, located in Cuxhaven, Germany is undergoing the construction of a fourth berth.
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Herfurth takes two
April 25 - Herfurth Logistics, part of the Herfurth Group, has acquired the Netherlands-based companies M-Star Freight Services and Falconex.
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China Merchants completes Sinotrans merger
April 24 - China Merchants Group, the state-owned conglomerate completed a strategic reorganisation, which results in and Sinotrans & CSC becoming a wholly-owned subsidiary of the former.
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Three Lines Shipping seeks investor
April 24 - Three Lines Shipping (TLS), a UAE-based transportation and logistics company, has confirmed reports that it is looking for an investor to help boost its regional expansion and grow its brand.
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Moore Stephens flags shipping pool pitfalls
April 20 - International accountant and shipping adviser Moore Stephens issued a warning to ship owners and operators to check carefully the financial, tax and jurisdictional implications of participating in shipping pool arrangements.
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Siemens set for Dubai global logistics
April 19 - Siemens, one of the largest manufacturing and electronic companies in the world, will set up its global logistics headquarters, including its portfolio for airports, cargo infrastructure and ports, in Dubai.
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Ex-Im Bank to get full functionality?
April 18 - In the USA, many have welcomed President Trump's announcement last Friday naming former Congressmen Scott Garrett and Spencer Bachus as nominees to the Export-Import Bank (Ex-Im) board of directors.
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RSS names directors
April 13 - Rope and Sling Specialists (RSS) has named Alan Varney and Angela Holmes as operations and finance directors respectively.
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Liebherr expands in Buenos Aires
April 12 - Liebherr-Argentina, a subsidiary of Liebherr, has opened a 314 sq m office in Buenos Aires, expanding the group's activities in Argentina and Uruguay, primarily in the areas of mining, mobile cranes, and port and harbour cranes.
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WaterFront expands
April 7 - Global ship agency WaterFront Maritime Services (WaterFront) has expanded by adding five new network partners across North and South America as well as the UK, in a move that provide it with a further 57 offices and access to more than 400 staff
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Weak year for Grieg shipping arm
April 7 - In 2016, Grieg Star recorded a loss of NOK64 million (USD7.4 million), against a net deficit of NOK476 million (USD55.3 million) in 2015, says its parent company, Grieg Group.
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Zeaborn completes Rickmers-Linie takeover
April 6 - Rickmers-Line GmbH, a company within the Bremen-based Zeaborn Group, has completed the takeover of the business operations of Rickmers-Linie and MCC Marine as well as NPC Projects, which was originally announced on February 9 and received cleara
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Schneider goes for IPO
April 5 - Green Bay, USA-based trucking company, Schneider National has launched an initial public offering (IPO) of 28,947,000 shares of its Class B common stock, at an anticipated IPO price between USD18 and USD20 per share.
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Finnlines adds to the Breeze
April 5 - Starting from September 2017, Finnlines will lengthen four of its Breeze series vessels, increasing vessel capacity by around 1,000 lane metres.
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TII India remains on course
April 5 - TII India, a subsidiary of the TII Group, has delivered the first three TIIGER Extender semi-trailers to Darshan Roadlines Pvt Ltd (DRPL), in the Indian city of Bawal.
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Double Boeings for ABC
April 4 -BOC Aviation Limited, an aircraft lessor, has purchased two Boeing 747-8 freighters, committing both on long-term leases to AirBridgeCargo (ABC) Airlines.
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Armitt handles ship unloaders
April 3 - In the UK, the Armitt Group has successfully managed the removal of two 1,050-tonne ship unloaders from the former Tilbury power station located on the River Thames, east of London.
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SEKO names Barnes
March 31 - SEKO Logistics has named Tony Barnes as chief operating officer (coo) Asia Pacific.
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MOL marks Malaysian enhancement
March 30 - Mitsui OSK Lines (MOL) has acquired a 20.9 percent share in Malaysian logistics company, PKT Logistics Group.