April cargo decline points to 'structural problem'

The strike at the Kwai Chung terminals contributed to the 12 per cent drop in last month's container throughput. Photo: K.Y. Cheng

The 12 per cent slide in Hong Kong's container throughput last month underpinned a structural problem exacerbated by a strike at one of the terminals last month, a port operator said.

Friday, 17 May, 2013, 6:22am

Passengers stop overloaded ferry from sailing

A large amount of cargo - including four bookcases - was loaded onto the ferry, blocking the emergency exits. Photo: SCMP

Safety on board a vessel belonging to the ferry company involved in last year's deadly sea collision came under fire again yesterday, as angry passengers stopped the boat from leaving the dock because it was clogged with cargo.

11 May 2013 - 5:32am 1 comment

Port measures Hong Kong dock workers' strike at 90 ships

Representatives of the Confederation of Trade Unions hand out HK$1,500 to striking dock workers outside the terminals. Photo: David Wong

A total of 90 vessels are expected to have bypassed the Kwai Tsing container terminals run by the strike-hit port operator if the walkout lasts until April 21, the company says.

10 Apr 2013 - 7:58am

Airline profits to rise amid recovery of cargo sector

IATA says airlines are on course for net profits of US$10.6 billion this year, up from December's forecast of US$8.4 billion. Photo: Bloomberg

The International Air Transport Association (IATA), which represents 240 airlines comprising 84 per cent of global air traffic, said airlines are on course to post total net profits of US$10.6 billion this year, up from December's forecast of US$8.4 billion. Total revenues are projected to climb by US$12 billion to US$671 billion this year.

21 Mar 2013 - 5:30am

Samsung's new Galaxy S4 smartphone will boost freight sales for Korean Air

A Korean Air cargo plane at Incheon International Cargo Terminal in South Korea. Photo: Bloomberg

Samsung may ship about 44 million of the smartphones in the second and third quarters, according to Young Park, an analyst at Woori Investment & Securities in Seoul. A Boeing 747-8 freighter plane carrying nothing else can hold about one million phones.

16 Mar 2013 - 7:11am

Weak Western growth to hit cargo demand

Orient Overseas (International) Limited's Chief Financial Officer Ken Cambie.

Anaemic growth in the US and little improvement in Europe's economic conditions will make 2013 as "challenging" as last year for Orient Overseas Container Line (OOCL), the financial head of the shipping line's parent company said yesterday.

7 Mar 2013 - 6:12am

Shipping firms brace for survival battle

The shipping recession means an opportunity not just for cash-rich owners, but for the next generation. Photo: Bloomberg

Tim Huxley, chief executive of Wah Kwong Maritime Transport, said poorly performing shipping markets could result in further bank foreclosures on ship finance loans and charterers returning vessels to owners.

6 Feb 2013 - 4:43am

Logistics sector has to act now to meet new regulations: John Tsang

John Tsang Chun-wah

The EU and the US are planning tighter regulations for checks on incoming cargoes at departing airports.

28 Jan 2013 - 5:41am

Rebound in Asian cargo buoys US shippers

The increase in cargo shipments from Hong Kong airport is expected to improve earnings at US shippers. Photo: SCMP

A pickup in air cargo shipments from Asia may benefit shares of Expeditors International and FedEx as global economic growth improves.

19 Jan 2013 - 5:12am

Tighter US security measures cause little impact on air cargo industry

The airfreight industry says it may face greater pressure if the US extends its new security measures to cargo carriers. Photo: David Wong

Tougher security measures introduced last month for some US-bound cargo at Hong Kong International Airport have had little impact on airfreight operations so far, industry experts said.

3 Jan 2013 - 4:55am

Power up, lending down, game on

Illustration: Henry Wong

In the second of a two-part series, the Post examines how infrastructure, energy, shipping and gaming fared in 2012 and what lies ahead in 2013.

1 Jan 2013 - 5:37am

Business Digest, December 17, 2012

European Union and Singapore reach a free trade agreement.

US prosecutors plan to file charges this week against multiple bankers linked to UBS rigging of Tokyo interbank lending rates.

17 Dec 2012 - 5:30am

Asia-Pacific airlines to see sharp fall in profit

Asia-Pacific airlines including Cathay Pacific Airways are bogged down by the sluggish cargo demand from the West. Photo: Xinhua

Carriers in the Asia-Pacific will see their profits fall 44 per cent this year because of the weak cargo market and the slowdown in China, the International Air Transport Association said yesterday.

14 Dec 2012 - 3:00am

Hong Kong airport sees mini-boom in cargo

Hactl is expecting better-than-expected growth in airfreight this year, with volume reaching more than 2 million tonnes in the first nine months. Photo: SCMP

Cargo volumes through Hong Kong International Airport are set to stage a mini-boom in the closing weeks of the year, buoyed by extra pre-Christmas freighter flights.

Mark Whitehead, the managing director of Hong Kong Air Cargo Terminals Ltd (Hactl), the largest cargo handler at Chek Lap Kok, said the facility would see a "boomlet" in airfreight tonnage.

23 Nov 2012 - 1:40am

China urged to allow transshipment of outbound cargo by foreign carriers

Yangshan mooted as trial port for foreign transshipments.

Key mainland ports such as Shanghai could boost container volumes and revenues if they are allowed to let foreign carriers transship international cargo at Chinese hub ports, according to a senior maritime executive.

25 Oct 2012 - 4:53am