Mitsui OSK Lines president Koichi Muto this week warned that the Japanese carrier was facing the largest loss in its history.
At the shipping line’s 128th birthday celebration, he also forecast that 2012 could be just as challenging.
Muto said that for fiscal 2011, which ended on March 31, the carrier is forecasting a loss of around 27 billion yen ($325.5 million).
He said it eclipsed MOL’s previous record loss in 1993 of 5.7 billion [...]
Demand for air cargo rose by 5.2% in February over the same month in 2011, according to the latest figures from the International Air Transport Association (IATA).
However, Latin American airlines saw the most significant decline, with a 3.6% fall compared with previous-year levels.
Several factors distorted the February result when comparing it with last year’s figure, said IATA. They included weaker traffic during the so-called Arab Spring a year ago, and cargo demand was [...]
Week in Review
With the expansion of the Panama Canal not all is yet said, because there are still challenges and other opportunities that will come along. The term Post panamaxes will give Panama one of the innovations when the mega expansion project becomes a reality and creates an opportunity to move more containers and other products that previously could not go through the Canal, such as liquefied natural gas [...]
Focus Publishing Group (The Bulletin, Hub Logistica and FOB Colon Free Zone) participated in Cargo Expo Peru 2012.
The fair was held from April 17 to 20 and is an event specialized in freight forwarding, logistics and foreign trade.
At this year’s edition China was the guest, while next year it is expected to be the US.
Peru Cargo Week was held at a time that the Peruvian government has set itself the challenge of [...]