This week saw CEVA Group announce the successful recapitalisation of its balance sheet, which may put an end to the intense speculation there has been about the company's future. That speculation began after a downgrade by Standard & Poor's to CEVA's cred

It all comes down to whether CEVA can pay its bills. The company has rushed to reassure creditors that they do not have to worry. The market, though, seems to be asking, for how much longer? And, from emails seen by HLPFI, some of the company's rivals have been busy fanning the flames of gossip in an attempt to take away customers.

One company's immediate future was resolved this week with the management and shareholders of Air Cargo Germany (ACG) unanimously deciding to declare insolvency, having temporarily interrupted its flight operations on April 18, after the temporary suspension of its Operating Licence.

This week's Friday Flyer is sponsored by Broekman Project Services, located in the Port of Rotterdam, which offers a total solution for handling and assembly of project cargoes -

In the corporate world
It's all together now for CONDOCK and K/S Combi Lift as the two companies merge activities in the latter's Steinkirchen office, with the retirement of the CONDOCK brand.

Wallenius Wilhelmsen Logistics (WWL) is in the running as a bidder for the redevelopment of the Melbourne, Australia Webb Dock West automotive terminal. Erickson Air-Crane Incorporated has closed its acquisition of Evergreen Helicopters. And it was a good Q1 2013 for Agility as it reported net profits of USD35.49 million, a year-on-year improvement of 46 percent over Q1 2012.

Service developments

Rickmers-Linie has added a tenth vessel to its eastbound round-the-world Pearl String service (pictured right).

Network news

Fast & Direct Heavy Lift Solution Services now represents Dubai, UAE in the Cargo Equipment Experts (CEE) network. Dacotrans de Centro is Project Cargo Network (PCN)'s latest member and first representative in Honduras, with Ramps Logistics joining the PCN for Trinidad and Tobago.

CN Shipping has inked a deal to become UK agent for Hartmann Project Lines' new service from Europe to West Africa, whilst the Spliethoff Group is opening a new branch office in Houston, USA.

Hatches, matches and dispatches

Birgitte Karlsen and Siri Wennevik are now partners at Wikborg Rein.

Nathi Chonco is now a shareholder partner and director of Concargo Group.

Ian MacLean has been appointed as partner at Hill Dickinson's London office.

Stephen Richard Schueler will be CCO, Maersk Line, from May 27.

Stephan Blank is now general manager Germany of global broker, Air Charter Service.

20-year company veteran Sacho Todorov is now on the management board of Militzer & Münch International Holding.

Benjamin Schatzl is the new product manager seafreight for Gebrüder Weiss in Shanghai, China.

Boris Wenzel has been named the new chief operations manager of Spanish marine terminal operator Noatum Ports.

Flemming Steen has joined shipping line Clipper Group as its new chief financial officer.

All about Evie

Evie congratulates independent global freight management and logistics organisation WACO System, which has celebrated its 40th birthday. During a four-day birthday bash in Mauritius, ninety delegates from over 50 forwarders representing 60 different countries came together to sing Happy Birthday. She also notes that the Global Project Logistics Network (GPLN) says it had a very successful 10th Annual Global Meeting in Abu Dhabi.

Along with all staff at HLPFI, she passes her deepest sympathies to National Airlines and the families of the crewmembers who were tragically killed in this week's crash at Bagram Air Base.

Evie ends the week wondering what the joint future activities mentioned in an invitation from BigLift Shipping and RollDock Shipping will entail when they are revealed at a meeting in Houston next Monday (May 7).

Full details on all the stories in this week's issue of the Friday Flyer can be seen on the HLPFI website.