Preparations are underway to re-tender the development of Larnaca Port after Cyprus terminated a $1.3 billion concession agreement. Transport Minister Alexis Vafeades announced that Qatar, along with other investors, had expressed interest in the port. The re-tendering process might be delayed by potential legal actions from the previous operator, Kition Ocean Holdings. Kition Ocean Holdings, a joint venture between Israeli investor Eldeman Holdings BV and Cypriot firm Alexandrou Corporate Services
Category: Middle East
Maersk ups full year earnings forecast as port congestion grows
AP Møller – Maersk expects a stronger financial performance in the second half of the year as container spot rates hit their highest level since August 2022. The Danish shipping company has upped its full year 2024 EBIT forecast to $1 – $3 billion from negative $2 billion – $0 previously and its full year EBITDA forecast to $7 – $9 billion from $4 – $6 billion previously. “On the
Etihad Cargo fully prepared for UAE-PLACI
Etihad Cargo, the cargo and logistics arm of Etihad Airways, has announced its complete readiness for the UAE Pre-Loading Advance Cargo Information (PLACI) regulations, ensuring that partners and customers will experience no disruptions in their shipments. This achievement underscores the carrier’s commitment to maintaining the highest standards of security and efficiency in operations. PLACI is an advanced security measure designed to enhance the monitoring and safety of air cargo. It
IATA Reports Strong Global Air Cargo Growth in March 2024
The latest data from IATA reveals robust annual growth in global air cargo markets, with March 2024 showing promising figures. According to IATA’s report, total global demand measured in cargo tonne-kilometres (CTKs) surged by 10.3% compared to March 2023, marking the fourth consecutive month of double-digit year-on-year growth. International operations experienced an even stronger growth rate of 11.4%. Willie Walsh, IATA Director General, highlighted the significance of this growth, stating
Green methanol-enabled Ane Maersk makes first call in Dubai
Maersk’s first large vessel that can run on green methanol, Ane Maersk, arrived in Dubai, UAE for the very first time and was welcomed by DP World at Jebel Ali. “Serving the AE7 string, which connects Asia and Europe, Ane Maersk arrived in the UAE on her rotation, beginning in Hamburg in Germany and covering several ports in Europe, the Mediterranean and the Gulf countries. She will further sail to
Bengaluru Airport cargo handled up 7% in FY2024
Kempegowda International Airport Bengaluru (KIAB/Bengaluru Airport) handled 439,524 tonnes of cargo in the financial year 2023-24, an increase of 7.1 percent compared with FY2023.“International tonnage reached 266,186 tonnes, a four percent growth over the previous year while domestic tonnage experienced a strong 13 percent rise, totaling 173,338 tonnes in comparison to the previous year,” says an official release. BLR Cargo continued its growth momentum operating to 33 destinations in FY2024
Dubai Airport reopens after UAE weather experienced
Dubai International Airport has announced the resumption of inbound flights at Terminal 1, with Emirates and flydubai flights operating out of Terminal 3, following disruptions caused by record rainfall in the Emirates. However, flight delays are anticipated as extensive clean-up efforts continue. Over two days, more than 1,200 flights were cancelled due to the adverse weather conditions this week. “Dubai International (DXB) has resumed in-bound flights of international airlines operating out
Emirates SkyCargo Partners with DB Schenker to Enhance Logistics Solutions
Emirates SkyCargo has initiated an API connection with DB Schenker, a prominent player in global logistics solutions. This collaboration aims to enhance customer experience and streamline international trade processes through digitalization. Through a host-to-host connection with DB Schenker’s internal booking engine, Emirates SkyCargo seeks to optimize the air freight booking process. This integration provides agents direct access to Emirates SkyCargo’s schedules, Standard and Contract Tariff rates, available capacity, and extensive
UAE Faces Unprecedented Rainfall, Disrupting Travel and Cargo Operations
The United Arab Emirates experienced an unprecedented deluge on Tuesday last week, with Dubai receiving over 14 cm of rain in a single day, equivalent to the region’s annual rainfall. The heavy rainfall caused widespread flooding, leading to disruptions in travel and cargo operations. At Dubai International Airport (DXB), arrivals were temporarily halted as standing water covered taxiways, causing travel chaos. Passengers struggled to reach terminals due to flooded roads
Europa Air & Sea Utilizes Antonov 124 for Time-Critical Cargo Operation from UK to UAE
Europa Air & Sea recently chartered the Antonov 124, one of the world’s largest commercial aircraft, to transport time-critical cargo from the UK to the UAE. The AN-124, capable of carrying up to 120 tonnes at take-off, facilitated the movement of cargo for one of the UK’s leading hydraulics manufacturers. Despite facing challenges posed by adverse weather conditions, Europa’s Air & Sea division, with specialist teams in both the UAE