Newsletter – August 1, 2019
AIR FREIGHT UPDATES
WOW Air’s Revival Could Be Cancelledsimpleflying.comThe revival of WOW Air by a US investment consortium is looking less likely by the day. According to Icelandic press, the purchasing company has repeatedly failed to make an installment payment for the assets it wishes to purchase. As such, the liquidators of the bankrupt estate have canceled the sale. Read more here.
Cathay Pacific Cargo lifts ban on lithium-ion batteries, thanks to new fire bagtheloadstar.comCathay Pacific Cargo has lifted its embargo on lithium-ion battery shipments after introducing a fire containment bag on its freighter aircraft. Read more here.
OCEAN FREIGHT UPDATES
NYK sees huge decrease in revenues but transforms loss into profitfreightwaves.comTokyo stock exchange-listed multi-ship operator Nippon Yusen Kabushiki Kaisha (JPX: 9101), or NYK, recorded a huge decrease in revenues for the three months ending in June. But the company’s profit/loss account has swung out of the red and back into the black. Read more here.
MOL swings from the red to the black in fiscal first quarterfreightwaves.comJapanese shipping behemoth Mitsui O.S.K. Lines (MOL) (JPX: 9104) increased operating profit and “profit attributable to owners” but its revenues took a huge dive in the first quarter of the Japanese financial year. Read more here.
PSA buys Halterm Container Terminal, its first box facility in Canadatheloadstar.comSingaporean port operator PSA International has acquired Halterm Container Terminal, in the Canadian port of Halifax. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Canadian Pacific joins Blockchain in Transport Alliancecpr.caCanadian Pacific (TSX: CP) (NYSE: CP) has joined the Blockchain in Transport Alliance (BiTA). In joining the alliance, CP is supporting BiTA’s mission of producing blockchain standards that allow for interoperability between participants in the global supply chain. Read more here.