European container ports are unlikely to be able to maintain the strong growth rates of the past three decades, Fitch Ratings says. Combined with the trend for ever-larger ships making fewer unloading stops, this makes risks highest for small- and medium-sized ports. These could be drawn into a price war in times of falling volumes, or could miss out on cargo even if they invest to accommodate larger ships. These risks are already factored in to our ratings in the sector. Since 1985 European … [Read more...] about EU port volumes set to slip
ocean freight
NOL reduces YTD core EBIT loss
Singapore-based NOL group has reported a net loss of US$23 million in the third quarter of 2014, and for the year to date a core EBIT shortfall of US$59 million, 31 per cent less than for the same period last year. The company stated that its cost management and efficiency drive delivered US$290 million of cost savings year-to-date. The cuts in expenditure were primarily achieved through a more efficient fleet and network optimisation. However, these savings were largely offset by lower rates, … [Read more...] about NOL reduces YTD core EBIT loss
Panalpina delivers stable profits during turnaround
Panalpina kept up overall profitability in the first nine months of 2014. Undeterred by ongoing restructuring, group gross profit and EBIT both increased 1 per cent (currency adjusted +6 per cent and +4 per cent), reaching CHF 1,178.7 million and CHF 94.4 million respectively. EBIT loss in Logistics was reduced drastically to CHF 6.9 million for the period of January to September (down from CHF 26.8 million in the same period of 2013). Air freight and ocean freight volumes grew 4 per cent and 8 … [Read more...] about Panalpina delivers stable profits during turnaround
SPARX enters Latin American market
Transportation and logistics company SPARX logistics sets up a joint venture with Patagon Logistics. SPARX will establish a firm base of business in Chile, one of the strongest and most stable economies in the Latin American market. “Chile is an excellent point of entry for SPARX,” commented David Pupco, president Americas. “It’s a great country, and a good strategic location within the region. In addition to serving accounts based in Chile, one of the objectives of … [Read more...] about SPARX enters Latin American market
