American Airlines (AA) is planning to axe 1,200 airport cargo and baggage jobs as part of a bankruptcy restructuring plan to cut its wage bill by $1.25 billion. All AA jobs at airports in six US cities and two in Canada will be outsourced. The Fort Worth-based carrier said the staff changes would be implemented [...]
Rates under pressure as capacity at record high
The global container fleet has grown to its largest since last August as vessel deliveries and a reduction in the idle fleet have raised available capacity to a new record of almost 15 million teu, according to Alphaliner. The capacity gains have outpaced the growth in demand for space, which is impacting rates and vessel [...]
New Canal lock gates will be ready in 2013
“The gates are on the way, the construction is going well, and we hope that Panamanians will come and see the gates working in January 2013,” said Sergi Ametller, Electromechanical Works manager of Grupo Unidos por el Canal (GUPC).). At present, there is a 30% advance on the first gate. The third set of locks [...]
Condor announces second frequency
The Bulletin From October 16, 2012, the airline Condor will offer a second frequency on the Panama-Frankfurt-Panama route. The airline is increasing its weekly flights by adding an additional frequency every Tuesday from October 16 from Panama to the city of Frankfurt, Germany. Condor currently offers a weekly flight every Friday. Frankfurt Airport is [...]
New Chamber of Commerce Board elected for 2012-2013
The Chamber of Commerce, Industry and Agriculture of Panama (CCIAP) swore in the new Board for the period 2012 to 2013. Seen here is the president, Irvin A. Halman, in the center, with his directors, Juan A. Arias (Agriculture), Jose Luis Ford, Antonio Miró Eleta, Paul Guardia and Jose Tabares (Industry, Energy and Water) and [...]
Panama bunkering sector generates billions of dollars
Margarita Cisneros Some 3.5 million metric tons of bunker are handled annually in the Panamanian market and the trend is toward growth, according to the director of Ports of the Panama Maritime Authority (AMP), Roger Barsallo. He was speaking during the Bunkering Forum organized by the Panama Chamber of Shipping. The growth of terminals [...]
Hanjin Shipping connects Asia with Central America
Hanjin Shipping Company launched a new regular container service on April 28 from Asia to the Gulf of Mexico in conjunction with Cosco. With this new service it will improve connections and operational coverage in the region. Hanjin Shipping has nominated Agunsa as general agent in Panama and Venezuela. This new nomination confirms the good [...]
Geographical position convenient, not essential
Since Panama’s port system started developing successfully in private hands from the early 90’s, there has been a steadily increasing number of buzz words used to create an incentive among everyone on the value of ports and maritime trade for the country’s economy. The public is told by enthusiastic government officials and politicians that Panama [...]
Shadow looms over Panama hub ports
Investing almost one billion dollars on a container terminal in Moin, Puerto Limon, the AP¨Moller Maersk Group, owner of the world’s largest container line, indicates that its transshipment operations do not need to be on the banks of the Panama Canal. APM Terminals has received the green light for the Moin concession from the comptroller [...]
MOL faces biggest loss in its history
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 [...]
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