Japan's Fair Trade Commission (FTC) has ordered Nippon Express and 11 other transport companies to pay over US$94 million in fines for what the competition watchdog sees as their collective attempt to fix international air cargo charges, Kyodo News reported. The FTC also issued an order to the companies to discontinue the practice and urged the Japan Aircargo Forwarders Association to prevent a recurrence of a similar act. The FTC believes the association served as a venue for consultations to … [Read more...] about US$94 million in fines for Japanese cartel
Freight Forwarders
OECD cuts China’s growth figure again
The Organisation for Economic Cooperation and Development (OECD) will cut its 2009 economic growth projection for China to below 6.5 per cent, the Wall Street Journal reported. The OECD's previous forecast, made in November, was 8 per cent, but Richard Herd, the organisation's chief economist, said it was unlikely China will achieve this goal. Last week, the World Bank revised its projection for China's GDP growth to 6.5 per cent from 7.5 per cent. Herd said the OECD's revised figure, which is … [Read more...] about OECD cuts China’s growth figure again
OECD cuts China's growth figure again
The Organisation for Economic Cooperation and Development (OECD) will cut its 2009 economic growth projection for China to below 6.5 per cent, the Wall Street Journal reported. The OECD's previous forecast, made in November, was 8 per cent, but Richard Herd, the organisation's chief economist, said it was unlikely China will achieve this goal. Last week, the World Bank revised its projection for China's GDP growth to 6.5 per cent from 7.5 per cent. Herd said the OECD's revised figure, which is … [Read more...] about OECD cuts China's growth figure again
Congressional report questions TSA scan plan
The ambitious plan by the US Transportation Security Administration to screen all 3.5 million tonnes of cargo transported annually on passenger airliners in the US may come up short, according to a report by Congress' Government Accountability Office (GAO). The report says the Transportation Security Administration (TSA) may not have enough inspectors nor adequate equipment to meet the August 2010 Congressional deadline to screen all cargo transported in the bellies of airliners for explosives. … [Read more...] about Congressional report questions TSA scan plan
India’s newest cargo carrier to take off in May
India's newest cargo carrier to take off in May Defying the global air cargo slowdown, GR Gopinath, founder of budget carrier Air Deccan, is planning to start operations of his cargo airline in May. His company, Deccan Cargo Express Logistics (DCEL), will take delivery of three Airbus 310 freighters from the first week of April onwards. With plans to offer end-to-end logistics solutions, DCEL's freighters will fly begin with a Dubai-Mumbai-Delhi-Hong Kong route. Eventually the all-freighter … [Read more...] about India’s newest cargo carrier to take off in May
India's newest cargo carrier to take off in May
India's newest cargo carrier to take off in May Defying the global air cargo slowdown, GR Gopinath, founder of budget carrier Air Deccan, is planning to start operations of his cargo airline in May. His company, Deccan Cargo Express Logistics (DCEL), will take delivery of three Airbus 310 freighters from the first week of April onwards. With plans to offer end-to-end logistics solutions, DCEL's freighters will fly begin with a Dubai-Mumbai-Delhi-Hong Kong route. Eventually the all-freighter … [Read more...] about India's newest cargo carrier to take off in May