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FedEx Corp is trying to block a probe by New York Attorney General Andrew Cuomo into its policies regarding the declared value of shipped items and its liability limits for those shipments, reported Dow Jones Newswires. In a lawsuit filed in federal court in Manhattan, FedEx claimed the attorney general's office has exceeded its authority and is preemp...
China freight-forwarding and express-delivery service provider Sinotrans said its first-half net profit rose 48 percent on increased shipping volumes and higher freight rates. The company said its net profit for the six months ended June 30 was US$56.19 million, up from $38.02 million a year earlier, Dow Jones Newswires reported. Revenue rose 74 per...
Thailand's Cabinet has approved an investment budget of US$1.98 billion, proposed by Airports of Thailand, for the expansion of Bangkok's Suvarnabhumi airport, reported Dow Jones Newswires. Transport Minister Sophon Zaram said of the total budget for the expansion programme, to be implemented between the fiscal years 2011-2016, $1.42 billion will be f...
Ports and rail operator Asciano Group has reported a net loss for 2009/10 due to impairment charges but says the outlook for the current year is positive, reported Australian Associated Press. Asciano booked a net loss of US$861.23 million for the 12 months to June 30, compared with a loss of $215.41 million in the prior corresponding period. The re...
Despite slimmer revenues, Portek fattened its net profits by 46.7 per cent to US$9.25 million for the year ended June 30, reported Business Times Singapore. Revenues for the port operator and engineering group dipped 9.5 per cent to $92.23 million. It managed to improve operating margins due to “more efficient engineering project execution and...
FLIGHTS between Newark Liberty and Athens airports offered by Continental Airlines and Aegean Airlines started to codeshare from August 23. Continental's "CO" code will be placed on its Star Alliance Greek partner Aegean Airlines' operated flights between Greece's capital Athens and local holiday destinations of Thessaloniki, Heraklion, Rhodes, Mykon...
LAREDO airport is experiencing an increase in air cargo activity, after investing more than US$160 million to improve infrastructure over the past 15 years. The Texas airport director Jose Flores said the facility is "able to accept heavier aircraft and we think we have a good future when it comes to air cargo." His comments come two months after the ai...
ICELANDIC shipping company Eimenskipalfelag Islands, has posted a 102 per cent second quarter net profit increase to EUR6.2 million (US$8 million), compared to a loss of EUR214.5 million for the second quarter of last year. Second quarter transport volume in Iceland increased 11 per cent from last year, but the carrier said in general its throughput fel...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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