Share sale raises almost USD 100 million 
For the first time since 2013, the Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has raised money by the equity offering of shares. The group achieved an output of PHP 4.7 billion (USD 97 million) from the sale of 40 million common shares of the... more
K Line welcomes newbuild
K Line has taken delivery of the “Cape Ace” 100,000-dwt bulker which was completed by Namura Shipbuilding, Imari Shipyard & Works. The vessel, compliant with the common structural rules for bulk carrier (CSR-BC), has wide shallow hull shape with six cargo holds which... more
China-EU railway benefits
More than 500,000 teu have been transferred on UTLC ERA’s transit services across the territories of Kazakhstan, Russia and Belarus since the beginning of 2020. For the first time ever in the history of railfreight traffic this record has been achieved on 1,520 mm China-EU track... more
MOL elects chairman and president
The Japanese shipping company Mitsui O.S.K. Lines (MOL) has announced the appointment of Junichiro Ikeda as new chairman and of Takeshi Hashimoto (photo) as new president. The company had decided to renew the top management and introduce new objectives as a response to... more
Tanks help to salvage
On 13 November 2020, engine failure forced a Volga-Dnepr Airlines AN-124 to turn back immediately after take-off from the Russian airport Novosibirsk (OVB). The aircraft overran the runway during the emergency landing. The front part of the landing gear dug deep into the earth... more
Japanese cargo drones flying ahead?
The APAC focused logistics real estate platform ESR Cayman is working with VRCO to design and demonstrate a cargo drone logistics facility at the company´s Higashi Ogishima distribution centre, strategically located in the Greater Tokyo Metropolitan Area. Upon completion,... more
Baltic Exchange assists investors
The Baltic Exchange, one of London's oldest institutions and an affiliate of Singapore Exchange (SGXL.SI), has launched a new service for shipping investors that provides a snapshot five-year view of the financial prospects for dry bulk carriers. The Baltic Exchange Investor... more
Third cargo service to Pakistan
Virgin Atlantic Cargo sets Pakistan on the top of its network this week. Flights between London Heathrow (LHR) and Lahore started on 7 December 2020, the service from Manchester to Islamabad yesterday, and LHR to Islamabad operations are scheduled to start tomorrow, 12 December.... more
Easing access to the cargo business for leisure carriers
CargoAi is increasing its offer for forwarders by making real-time prices and electronic bookings available on its platform for the leisure carriers TUI, Condor and SunClass Airlines. This roll-out has been made possible thanks to the support of the ECS Group, these airlines’... more
Manning MOL crews for 25 years
On 1 December the MOL Group’s crew-manning company in India, Mumbai-based MOL Maritime India (Molmi), held an online ceremony to mark the 25th anniversary of its founding. Performances by seafarers, office staff and their families, and a video summarising the company’s 25-year... more