Newsletter – July 31, 2018
AIR FREIGHT UPDATES
Cathay Pacific looks set to cut overseas jobs as it ‘restructures’
Cathay Pacific Airways has issued its clearest warning yet that it will shed jobs in its overseas operations, as it presses on with restructuring efforts to claw its way back into profitability. Read more here.
OCEAN FREIGHT UPDATES
Cosco systems fully recovered from cyber attack
China’s Cosco Shipping Lines has announced that its network applications in the Americas have been fully recovered, one week after it suffered a system breakdown due to a cyber attack last Tuesday. Read more here.
OOCL increases market share, but rising costs mean Q2 results could be in red
Orient Overseas International (OOIL) has reported increased liftings but lower average revenue per container in its final quarterly operational update for container arm OOCL. Read more here.
Pressure mounts on K Line top management
Pressure is growing once agian for a change of top mangement at Japan’s third largest shipping line, Kawasaki Kisen Kaisha (K Line) after another set ofdisappointing results were unveiled today. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Walmart stumbles with its ‘last mile’ package delivery plan
EAST BRUNSWICK, N.J. (Reuters) – Standing before an audience of 14,000 people last year, Walmart Inc executives described a radical plan to help it fend off Amazon.com Inc and other online delivery services from stealing its customers. Read more here.