Agility Project Logistics has announced that it has entered into an A$250 million (US$200 million) agreement with Chevron Australia Pty Ltd for supply base operations and transportation services to support the Gorgon Project. The Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (Operator), Exxon Mobil and Shell, to develop the Greater Gorgon gas field located between 130 km and 200 km off the north-west coast of Western Australia. The Greater Gorgon gas fields … [Read more...] about Agility to support Chevron’s Gorgon Project
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Mubadala full acquires SR Technics Group
Mubadala Development Company has acquired sole control of the SR Technics Group and increased its shareholding to 70 per cent following a buyout of Istithmar’s 30 per cent shares. Dubai Aerospace Enterprise (DAE) continues to hold a 30 per cent shareholding in the company. The consortium acquired SR Technics in 2006. SR Technics will continue to operate as an independent company under its existing brand. … [Read more...] about Mubadala full acquires SR Technics Group
Logistics survey provides glimmer of hope
The results of Transport Intelligence’s latest Global Logistics Business Confidence Index show a significant return of optimism to the market. Although the index weakened slightly in April from +1.05 to -4.43, there was far morepositive sentiment about the future. Overall the index assessing confidence in the state of the market in twelve months time moved from a score of -26 in February to +4 in April. This contrasts strongly with the results in February and March whenrespondents … [Read more...] about Logistics survey provides glimmer of hope
Decline slows, but no recovery in sight: IATA
The International Air Transport Association (IATA) has released its international traffic data for April which shows air freight continuing at very weak levels. International cargo was down 21.7 per cent in Aprilcompared to previous year levels. This is the fifth consecutive month in the -20 per cent range. “This sideways progression may indicate that we have seen the worst of the economic downturn,†IATA said in a statement. “Business confidence is improving, but … [Read more...] about Decline slows, but no recovery in sight: IATA
Arms and aid: Air cargo taken to task
According to a report released by the Stockholm International Peace Research Institute (SIPRI), 90 per cent of the air cargo companies involved in arms trafficking to African countries have also been delivering humanitarian aid. “In some cases, air cargo companies are delivering both aid and weapons to the same conflict zones,†the report claimed. The report, titled ‘Air Transport and Destabilising Commodity Flows’, said air cargo carriers involved in … [Read more...] about Arms and aid: Air cargo taken to task
Aeroflot expands China capacity with latest MD-11F
For most air cargo carriers, taking delivery of another aircraft in this current environment means an extra capacity burden and all the headaches that go with it. But for Russian cargo carrier Aeroflot Cargo, the addition of its latest MD-11 converted freighter has not been so much of problem in terms of filling it, but rather the poor yields that are an unfortunate feature of the market now. “We just increased our frequencies from Russia to China – Bejing and Hong Kong … [Read more...] about Aeroflot expands China capacity with latest MD-11F
