DP World ‘well positioned’ in tough and uncertain markets, as first-half profits soar

By Mike Wackett

DP World has reported robust first-half results from its global portfolio of container terminals, saying despite the challenging market, it expects an equally strong performance in H2. Sales grew by 10.2 per cent in the first six months, compared with the same period of 2015, to $2.094 billion, supported by the acquisitions of the Jebel Ali Free Zone in the UAE and the Prince Report container terminal in Canada.

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G6 axes more Asia-North Europe capacity as carriers prepare for a ‘bleak’ October

By Mike Wackett

Anticipated low demand in October for container bookings between Asia and North Europe has forced G6 alliance members to announce two further blanked voyages. OOCL advised that the G6 Loop 5 sailing scheduled to be performed by the OOCL France in week 39 will be cancelled, as will the voyage of the APL Raffles in week 41. The carrier said the move was in response to “the expected low demand in October”.

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‘Painful’ air cargo hazmat fine signals tougher stance by US FAA on violations

By Ian Putzger

US authorities are coming down hard on violations of hazardous materials regulations. The Federal Aviation Administration has slapped a $54,000 fine on a shipper who failed to declare a hazardous shipment tendered for transport by air. Gordon Food Services sent a shipment of 30 four-ounce Fryer boil-out foaming tablets, made of corrosive sodium hydroxide, to UPS for air transport from Florida to North Carolina. Staff at the integrator’s sort facility discovered the shipment had “Danger: May Cause Burn” wording on the inner boxes.

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CMA CGM looks to save $1 billion in costs after losses in a ‘difficult’ second quarter

By Gavin van Marle

After posting a second-quarter net loss of $128 million, French shipping line CMA CGM has drawn up a $1 billion cost saving plan and announced delayed delivery of vessels under construction. The “Agility” plan targets $1 billion of cost savings over 18 months, which will see its network reorganized, and operating expenses such as bunker, vessel charter, port, logistics and other expenses renegotiated, as well as increasing revenue per TEU through “expanding in such high value-added segments as reefer carriage”.

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