MOL to acquire majority stake in Gearbulk 
On 25 June Mitsui O.S.K. Lines (MOL) announced its decision to reorganise its equity-method affiliate, Gearbulk Holding, by acquiring a 72% stake and making it a consolidated subsidiary by January 2025. Gearbulk, headquartered in Switzerland, focuses on the open-hatch vessel... more
Expanding the cargo network
NAV Aero is enhancing its airline network with the addition of three airlines: TAP Air Cargo, the cargo division of TAP Air Portugal, offers customised services for the daily collection, transport, and delivery of all types of cargo. With 75 years of experience, Bahrain’s... more
RZD Logistics leases first shunting locomotive
The locomotive has been hired by a company in the Transbaikal region to be used among other things for shunting work on access tracks and for supplying and cleaning wagons for the transport of raw materials. Built in 2023, the traction unit is the first shunting locomotive that... more
A strategic airfreight partnership in Australia
Team Global Express has entered into a strategic USD 480 million, seven-year partnership with the trans-Tasman cargo airline Texel Air Australasia. This cooperation has introduced four Boeing 737-800 BCF (Boeing converted freighter) aircraft to Team Global Express’ domestic... more
Carrying forward a Chinese REIT
ESR Group has received approval for its REIT application in China. As part of this real estate investment trust, the company is expected to raise over RMB 2.438 billion. The China securities regulatory commission approved the group’s application to register and list ESR China... more
New route to connect Asia with Southeast India
MSC has launched a new weekly service, “Osprey” to connect Asia and Southeast India. Starting on 23 July with the vessel “MSC Somya”, service aims to enhance transit times and connectivity between these regions, benefiting importers and exporters. Osprey complements MSC’s... more
First ever director for Vietnam
Trade Tech, a global logistics platform, has named Lana Le as its first ever director for Vietnam, effective immediately. With nearly 15 years of experience in the supply chain industry, Le will oversee the expansion and management of the platform’s regional sales and customer... more
NAS lands contract in UK
Sri Lankan Airlines has appointed Network Airline Services (NAS) as its cargo GSSA in the UK. Sri Lankan operates daily wide-body flights from London Heathrow to Colombo, connecting into a network covering the Middle East, Indian Subcontinent, Asia, and Australia.... more
Bandar Anzali connected to railway
The Iranian Rasht-Caspian-Railway was launched last Thursday (20 June 2024) in a ceremony attended by representatives of Iran, Russia, and Azerbaijan. The 37 km railway links the city of Rasht with the port of Bandar Anzali on the Caspian Sea. The line is a critical rail... more
IRU adds a member in China
The Truck and Rail United Logistics Group (TRU), based in China, has joined the International Road Transport Union (IRU) as its newest member. The Chinese forwarder specialises in cross-border road and road-rail-sea freight transport to Southeast Asia, Central Asia, and... more