G20 grapples with formula to ease currency strains

AJOT | November 11, 2010 | International Trade

The Group of 20 labored to agree how to put the world economy on a sounder footing as fears about Ireland's ability to pay its debts underscored lingering fallout from the global financial crisis.

The G20 hoped to use a two-day summit to recapture uni Read More »

Farm subsidies seen a turn off for investors

AJOT | November 11, 2010 | International Trade

Pricey commodities have made U.S. farmers less dependent on government aid, but the European farm sector still faces the risk of disruption from subsidies being phased out, agriculture investors said. Read More »

US trade gap narrows more than expected

AJOT | November 11, 2010 | International Trade

The U.S. trade defict narrowed more than expected in September, despite near record imports from China, as a weak U.S. dollar helped American exports grow for the third consecutive month, a U.S. government report showed.

The monthly trade gap totaled Read More »

US, Korea trade pact faltered over autos

AJOT | November 11, 2010 | International Trade

Disagreement over the access of U.S. carmakers to the lucrative South Korean automobile market was the main reason the two countries failed to advance a long-stalled free trade pact, U.S. officials said.

Mike Froman, an economic adviser to U.S. Presid Read More »

Pandora Q3 profit triples, eyes Russia and China

AJOT | November 11, 2010 | International Trade

Jewellery maker Pandora , a newcomer to the bourse, said growth across all regions and product categories helped it triple profit in the third quarter.

Pandora makes mass-market jewellery sold mainly in Europe and the United States and is eye Read More »

Top 2 Taiwan airlines to lease planes as demand soars

AJOT | November 11, 2010 | Air Cargo

Taiwan's top two airlines said they would lease a combined eight large aircraft to keep up with a surge in demand for new China flights before orders for new planes arrive.

China Airlines and EVA Airways will lease the planes as demand grows Read More »

Fine hits SAS Q3, overshadows recovery effort

AJOT | November 11, 2010 | Air Cargo

Struggling Scandinavian airline SAS's efforts to cut costs were overshadowed by a fine that dragged it to a third-quarter pretax loss of 1 billion crowns ($149 million.

The airline booked 1.4 billion of one-off charges, the biggest of which w Read More »

Air New Zealand says EU drops cargo cartel charges

AJOT | November 11, 2010 | Air Cargo

New Zealand national carrier Air New Zealand said that charges that it was part of price fixing in air cargo services had been dropped by the European Commission. It said it was one of 11 airlines that had had the charges against them dropped. Read More »

Hactl’s quality management system gains worldwide recognition

AJOT | November 11, 2010 | Air Cargo

Hong Kong Air Cargo Terminals Limited (Hactl) announced that the company recently attained the Cargo 2000 certification, confirming Hactl to be in full compliance with the requirements of the standard and scopes of work under Cargo 2000 Quality Management Read More »

Airlines’ security costs on the rise in 2010

AJOT | November 11, 2010 | Air Cargo

Airlines' security costs in 2010 will be more than the $5.9 billion they spent last year because of the growth in traffic, the director general of air lobby group IATA.

Giovanni Bisignani, director general of the International Air Transport A Read More »

Air Canada says may appeal EC’s cargo cartel fine

AJOT | November 11, 2010 | Air Cargo

Air Canada said it may appeal a decision by the European Commission to fine it 21.03 million euros ($29 million) in a cargo price-fixing case. Read More »

Thai Air says EU drops cargo cartel charges

AJOT | November 11, 2010 | Air Cargo

National carrier Thai Airways International PCL said the European Commission had dropped charges against it relating to competition rules in the cargo sector and it did not now face any fine. Read More »

Cathay Pacific says weighing options after EU fine

AJOT | November 11, 2010 | Air Cargo

Cathay Pacific Airways Ltd said it is evaluating its options with regard to a decision by the European Commission to fine the Hong Kong carrier 57.12 million euros ($78.57 million) over a cargo price-fixing case.

"Cathay Pacific is reviewing the decis Read More »

Singapore Air says likely to appeal EU fine on cargo

AJOT | November 11, 2010 | Air Cargo

Singapore Airlines said its cargo unit is likely to appeal a ruling by the European Commission that it was involved in a price-fixing case involving several airlines.

The Singapore flag carrier also said it will make a provision of about S$134 million Read More »

TIACA welcomes WCO’s decision for reducing paper-based documentation for international air cargo…

AJOT | November 11, 2010 | Air Cargo

TIACA has welcomed as a 'significant step forward' the World Customs Organization's (WCO) decision to work towards reducing the profuse paper-based documentation that accompanies international air cargo shipments.

The WCO's key Permanent Technical Com Read More »

Evergreen Line supports new low sulfur program at ports of Hong Kong and New York/New Jersey

AJOT | November 11, 2010 | Liner Shipping

Evergreen Line has announced the implementation of Hong Kong's "Fair Winds Charter" (Voluntary Clean Fuels Initiative for ocean-going vessels calling at Hong Kong) and the Port of New York/New Jersey's "Ocean-Going Vessel Low-Sulfur Fuel Program" pursuing Read More »

Maersk Line CEO sees strong container market in 2011

AJOT | November 11, 2010 | Liner Shipping

Maersk Line, the world's biggest container shipper, is optimistic for next year on strong demand growth from emerging markets and stable freight rates, its chief executive said.

"We do see the (industry) growth next year could be 7 to 8 perce Read More »

Maersk lifts outlook as profit beats forecast

AJOT | November 11, 2010 | Liner Shipping

Shipping and oil group A.P. Moller-Maersk hiked its 2010 profit forecast to around $5 billion as it posted forecast-beating profits for nine months, driven by cost cuts and higher freight rates and oil prices.

The upgrade from the previous guidance fo Read More »

Goldenport eyes container ship acquisitions

AJOT | November 11, 2010 | Liner Shipping

Greek shipping group Goldenport Holdings will look at container ship acquisitions in the coming months, helped by an improving market and a war chest of over $150 million, its commercial director said.

Global turmoil in 2008 battered the container mar Read More »

China steel demand to face headwinds in 2011

AJOT | November 09, 2010 | Breakbulk & Projects

China's steelmakers face falling prices in the next few months as property market curbs begin to bite, in a trend that could spread to upstream sectors such as spot iron ore, coking coal and seaborne shipping rates.

After four years of double Read More »