Commerce ministry spokesman Yao Jian stated that China's trade surplus will fall steeply as the renminbi rises against foreign currencies, reported state media. Surpluses narrowed in the first quarter of 2010, with China declaring a US$7.24 billion trade deficit in March. China's trade surplus in April decreased 87 per cent from a year earlier, and the national surplus could nearly halve this year. China's largest trading partner for the first quarter was the European Union, with trade with the … [Read more...] about China's 2010 trade surplus expected to fall sharply
Ground Handling & Cargo Terminals
Fraport records record cargo tonnage
Frankfurt Airport (FRA), owned and managed by Fraport AG, closed the first quarter of 2010 with a 33.5 per cent growth for the first three months of the year. In March 2010, cargo throughput rose by 37.4 per cent year-on-year and exceeded the 200,000-tonne mark for the first time in FRA’s history. The new monthly record of 203,308 tonnes represents an increase of about 11,400 tonnes compared to the previous peakmonth of November 2007. The first quarter also saw a 3.9 per cent … [Read more...] about Fraport records record cargo tonnage
SATS and Air India ink joint venture
Singapore Airport Terminal Services (SATS) and Air India have signed an agreement to form a single 50:50 joint venture (JV) company that would serve as the vehicle to house their three existing ground and cargo handling JVs in Bangalore and Hyderabad. To be named Air India SATS Airport Services Private Limited (AISATS), the JV company is in the process of being incorporated in New Delhi. In September 2008, SATS was chosen by Air India as its JV partner for ground handling in India. Prior to … [Read more...] about SATS and Air India ink joint venture
Cathay awards new cargo terminal contract
Gammon Construction Ltd, in which Balfour Beatty has a 50 per cent shareholding, has been awarded by Cathay Pacific Services Ltd, a HK$4.2 billion (US$534 million) air cargo erminal construction contract, in joint venture with Hip Hing Construction Co Ltd. The contract for the new terminal at Hong Kong International Airport, Chek Lap Kok, will engage a workforce of over 1,000 at the peak of the project’s construction period. The new terminal, which was delayed due to last … [Read more...] about Cathay awards new cargo terminal contract
Thailand looks for new cargo manager
The Airports of Thailand (AoT) has agreed on the terms for a bid to find a new contractor to manage the duty-free air cargo zone at Bangkok’s Suvarnabhumi Airport. The terms are broadly similar to what AoT had applied when it awarded the original contract, to Thai Airport Ground Services (Tags), according to the Bangkok Post. AoT recently cancelled its contract with Tags after it ran into financial trouble, including an inability to pay its employees since November, and saw a … [Read more...] about Thailand looks for new cargo manager
Dubai sees cargo and pax continue to rise
Cargo volumes at Dubai International Airport continued their resurgence in March, with volumes increasing 21.9 per cent to 194,100 tonnes, as compared to 159,301 tonnes recorded in March 2009, according to Dubai Airports. The increase was driven largely by volume growth at Emirates Skycargo, along with additional traffic generated by new cargo operators and the ongoing recovery of air cargo worldwide as companies continue to replenish inventories around the globe. Aircraft movements also … [Read more...] about Dubai sees cargo and pax continue to rise
