Nestle to invest $70 mlllion on South.Africa expansion

AJOT | February 03, 2011 | International Trade

Nestle is spending $70 million on expanding its business in South Africa, as the world's biggest food group sharpens its focus on emerging markets.

Nestle said in a statement on Wednesday it will spend around 500 million rand ($70 million) on a new ce Read More »

EU lawmakers OK banana duty cuts for Latin America

AJOT | February 03, 2011 | International Trade

European Union lawmakers on Thursday approved a deal to cut EU import tariffs on bananas from Latin America, ending the world's longest-running trade row, a European Parliament official said.

A majority in the European Parliament voted to cut duties o Read More »

Honda to lower CR-V exports to US to reduce fx impact

AJOT | February 03, 2011 | International Trade

Honda Motor Co is looking to make small investments in North America to build more of its popular CR-V crossovers there, reducing exports from Japan to cushion the blow from a strong yen, an executive said.

"Our profit structure has improved mainly th Read More »

EU softens stance on raw material export controls

AJOT | February 03, 2011 | International Trade

The EU confirmed it would consider stockpiling critical raw materials, but stopped short of threatening retaliation against countries that restrict supplies, a strategy document from the bloc's executive showed. In earlier drafts of the paper, the Europea Read More »

Hitachi raises forecast as Asia sales boom

AJOT | February 03, 2011 | International Trade

Hitachi Ltd raised its annual outlook above market expectations after cost-cutting and robust revenue in emerging markets helped quarterly operating profit nearly double, underscoring the progress in its restructuring drive.

The forecast for the indus Read More »

Kenya Airways to expand African routes, eyeing more

AJOT | February 03, 2011 | Air Cargo

Kenya's national carrier plans a three-pronged expansion this year on its African routes, a senior official said.

Kenya Airways Chief Operating Officer Bram Stellar said the three-way strategy will involve the company -- which dominates pan-African ai Read More »

Aloha Air Cargo wins award

AJOT | February 03, 2011 | Air Cargo

Aloha Air Cargo, Hawaii's leading air-freight carrier, is pleased to announce that two members of its team have been awarded top honors for excellence in the aviation field from the Federal Aviation Administration (FAA), alongside more than a dozen genera Read More »

Prager succeeds Persson as Envirotainer CEO

AJOT | February 03, 2011 | Air Cargo

Envirotainer's Board of Directors has appointed Niklas Prager, currently Chairman of the Board, as the company's new CEO, effective February 1st 2011. He succeeds Thomas Persson, who will remain with the company as Senior Advisor on special projects and s Read More »

Chile LAN to ask tribunal to drop TAM merger probe

AJOT | February 03, 2011 | Air Cargo

Chile's dominant airline LAN will ask an anti-trust tribunal to drop a probe into a planned merger with Brazilian carrier TAM , CEO Enrique Cueto told local media in interviews published.

The Chilean tribunal's probe, announced last week, puts a tempo Read More »

New IATA, ICAO and OAG web solution puts latest dangerous goods regulations online

AJOT | February 03, 2011 | Air Cargo

Airlines, freight forwarders and shippers can now gain faster access to the latest regulations and information for the carriage of dangerous goods by air with the launch of 'DG Online' by the International Air Transport Association (IATA), the Internation Read More »

Air freight grows by one fifth in 2010

AJOT | February 03, 2011 | Air Cargo

Air freight grew by over one fifth in 2010, in a sign of global economic recovery, but severe weather in Europe and North America dented passenger demand at the end of the year, the airline body IATA said.

Both passenger and freight demand have now ex Read More »

CMA CGM maintains call in Egypt

AJOT | February 03, 2011 | Liner Shipping

CMA CGM is following with great concern the events taking place in Egypt. The Group has set up an Emergency and Communication Response Team to follow the situation, 24/24, 7/7, keeping in close contact with its Egyptian teams in the country, assessing the Read More »

Eagle Bulk Shipping issues statement regarding Korea Lines

AJOT | February 01, 2011 | Breakbulk & Projects

Eagle Bulk Shipping, Inc. issued the following statement in response to the decision by Korea Lines to file for protective receivership: Read More »

Korea Line seeks receivership as freight rates tumble

AJOT | February 01, 2011 | Breakbulk & Projects

South Korea's Korea Line Corp said it had filed for receivership, squeezed by a sharp drop in dry-bulk rates and growing global vessel deliveries ordered before the economic turmoil of 2008.

Korea Line, which is 20.5 percent owned by its chief executi Read More »

Dry bulk rates pressured as coal slowdown bites

AJOT | February 01, 2011 | Breakbulk & Projects

Dry bulk freight rates, already at their lowest levels in nearly two years, are likely to fall further due to a glut of ships and as coal buyers struggle with high prices and thin margins and hold off booking cargoes.

In recent days the Baltic Exchang Read More »

Grains turmoil to lift smaller dry bulk ship rates

AJOT | February 01, 2011 | Breakbulk & Projects

Rising demand for Australian, U.S. and South American grains due to global supply disruptions is set to provide modest earnings support for smaller ships at a time when the dry bulk market is struggling with oversupply.

Fears of food inflation and tig Read More »

Diana Shipping announces time charter contract for M/V Thetis

AJOT | February 01, 2011 | Breakbulk & Projects

Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk carriers, the Read More »

Ships supply woes weigh on Baltic index outlook

AJOT | February 01, 2011 | Breakbulk & Projects

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, slid to its lowest in nearly two years as weak sentiment and rising fleet growth continued to bite. Read More »

B’nte joins Rickmers Group

AJOT | February 01, 2011 | Breakbulk & Projects

Frank B'nte has joined the Management Board of the Rickmers Group as Chief Treasury and Risk Officer. Previously he was with HSH Nordbank AG, where he was latterly responsible for the bank's entire domestic shipping company business.

'Acting in concer Read More »

GAC and TransAtlantic sign agency agreement to support Arctic exploration

AJOT | February 01, 2011 | Breakbulk & Projects

GAC Norway has welcomed the TransAtlantic ice-breaking Anchor Handling Tug Supply (AHTS) 'Tor Viking II' to Hammerfest after its transit of the ice-bound North East Passage, under a new agency agreement that brings together two companies with plans for Ar Read More »