The Loadstar

  • ACG security in probe into ‘black money’ wages on the docks
    FavoriteLoadingAdd to favorites 31/10/2014
    Melbourne patrick-stevedoring

    Security firm ACG, subcontracted by Patrick Stevedores, one of Australia’s largest container terminal operators, is the subject of a major anti-corruption probe, with allegations that security workers were given cash payments. Several premises were searched, and documents and computers seized as part of the country’s Operation Trident, which was set up in response to “escalating concern about the level of corruption on the nation’s docks”.

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  • IAG Cargo warns of capacity excess, but parent is confident as rivals falter
    FavoriteLoadingAdd to favorites 31/10/2014
    iagc

    IAG Cargo this morning announced that its Q3 revenues fell 8%, year-on-year, while volumes fell 4.5% and capacity declined 6.5%. Yields too fell 3.4%. But if the freighter operations are removed from last year’s figures to give a like-for-like basis to the numbers, things looked a little better. Volumes increased 12%, while yield was down 3%. IAG Cargo executives have noted that since the freighters left the fleet, they have been able to concentrate more fully on filling the bellies. Steve Gunning, CEO, was generally upbeat but concerned about the additional capacity coming not the market.

    “This is a positive third quarter for the business and we’ve seen good load factor improvements across markets, despite an increase in capacity. The strong performance of our premium products has offset continued underlying price pressure, particularly in the North American market. While we have seen a decrease in yield, this is primarily due to flying increased sector lengths. More generally, while trading is good, there are still fundamental issues with the market in terms of excess capacity.”

    Parent IAG bucked the trend of Air France-KLM and Lufthansa, which have been beset by strikes, by raising the forecast for the year-end.

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  • Profitability splits among Japan’s big three
    FavoriteLoadingAdd to favorites 31/10/2014
    NYK ships

    The half-year results are in for the three Japanese lines NYK, MOL and K Line, and it’s a mixed bag. K Line beats its profit forecast by just under 100%, benefitting from strong rates between Japan and North America; MOL saw its profits drop by 45% with slumping north-south volumes and port congestion in Asia denting earnings; and NYK was flat with cost cutting mitigating weak revenues

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  • A LA-Long Beach terminal congestion checklist
    FavoriteLoadingAdd to favorites 30/10/2014
    Los Angeles Pier 400

    Blog from CH Robinson’s director of ocean services on the causes of the current congestion in the US’s largest container gateway – the Los Angeles-Long Beach port complex. The current state of congestion (some boxes are taking up to 50 days to clear!) and what can be done in the short term to get around it; and what the long-term solutions are. And by the way, it’s an almost pitch-perfect example of how operators can blog about industry issues.

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  • Sonic boom sounds over Kent after RAF intercepts Latvian cargo plane
    FavoriteLoadingAdd to favorites 30/10/2014
    Antonov 26

    Drama over the skies of southern England yesterday when an Antonov-26 cargo aircraft owned by Latvian freight airline RAF-Avia lost contact with air traffic control, prompting two RAF Tornadoes to be scrambled in response to a possible terrorist attack. But no, the aircraft was on its way to Birmingham with a consignment of automotive parts from the Italian airport of Toscara, via Vatry in France.

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