Asia Shipping News Nov 23, 2000
Jim Powell
Thursday, November 23, 2000
SchedNet http://www.schednet.com
* MOL turns up profits
* Express connection for Yantai
* Shanghai explores potential
* Swell record for Port of LA
* UPS wins China air rights
* China Freight takes a slice of the Big Apple
* Frankfurt rewrites record books
* CAAC plays it safe
* FedEx heads down Mexico way
* Mire deepens for Alitalia
MOL turns up profits
====================
MITSUI OSK Lines has shown an increase in non-consolidated results for
the first six months of this financial year, which began on April 1,
2000.
>From April 1 to September 30, the shipping giant posted revenues of US$3.132 billion, compared with the same period last year when the figure stood at $3.082 billion. Operating income for the period came in at $223 million, up from last year's $143 million.
Ordinary income for the April to September period this year stood at
$250 million compared with the same six month period in 1999 when the
figure was $114 million. Net income for the first six months of this
fiscal year came in at $69 million which was higher than last year's
figure of $54 million.
The net income for the total financial year ended March 31, 2000 was
$82 million, while the projected net income for this year ending March
31, 2001 currently stands at $104 million.
Express connection for Yantai
=============================
SHANDONG province's logistics sector received a boost when the
expressway connecting the coastal city of Yantai with the provincial
capital Jinan was completed earlier this month.
It now takes as little as four hours to drive the 400 kilometre
distance that separates the two cities. In addition, the new
infrastructure may help improve Yantai port's competitiveness against
its provincial neighbour, Qingdao.
Shandong province now has a total expressway length of 2,100
kilometres.
Shanghai explores potential
===========================
SHANGHAI Railway and Waterway Joint Transportation has made good
progress in recent months through close co-operation.
The total volume handled through joint transportation over the past 10
months is 40 per cent higher on the corresponding period last year,
and the volume of international standard containers also increased -
by 30 per cent year-on-year.
Currently there are two terminals connecting Shanghai's railway with
Shanghai Port. One is a combined Yang Pu-He Jia Wan terminal, mainly
dealing in sea and railway container joint transportation. This year
the terminal has been exploring a new route for sea and railway
container joint transportation from Shanghai to Chengdu along the
Yangtze River.
Another terminal is located at Shanghai South Railway Station.
Dependent upon the river dock with a handling capacity of 10,000 tons,
the terminal has been co-operating with Long Wu Port Company, Xin Hua
Port Company and Nan Pu Port Company.
By the year-end, the estimated volume of railway and waterway joint
transportation handled will be around 100,000 TEU.
Officials expect that there will be an annual increase of up to 40 per
cent for the intermodal volume in the next three to five years.
Swell record for Port of LA
===========================
THE Port of Los Angeles handled 481,502 TEU last month, marking the
highest cargo volume ever recorded by the port in a single month,
eclipsing the previous record which had been set two months before.
The October total is 24 per cent higher than the 387,166 TEU moved in
October 1999.
Larry Keller, executive director of the port said: "The port has moved
4.1 million TEU so far this year, giving us a new calendar-year record
for container volume with two-months remaining in 2000."
Last year the port handled 3.8 million TEU to set what was then a new
calendar-year record. This calendar year marks the first time that the
port has passed the 4 million TEU figure.
Imports last month totaled 250,875 TEU setting a new one-month record
that is 26 per cent more than all imports moved in October 1999.
Likewise, exports accounted for 93,795 TEU setting another new single
month record that is 24 per cent higher than all exports handled in
October 1999.
Total volume in the January-October period this year outpaced the
first 10 months of last year by nearly 30 per cent.
UPS wins China air rights
=========================
A TENTATIVE decision by the US Department of Transportation (DOT) to
award UPS direct flights to China will benefit US workers and American
companies seeking to initiate or expand business in China, the company
said.
"The DOT made a bold, forward-looking decision that recognises the new
economy and UPS' role in the global marketplace," said Jim Kelly,
chairman and CEO of UPS. "This tentative decision will benefit UPS
people, American businesses and the principle that free and fair trade
is a vital component to growing our prosperity in this new economy."
The decision would grant UPS the right to operate direct flights
between the US and China. UPS said it plans to fly six frequencies
using Boeing 747 aircraft. Four of those flights will originate in
Ontario, California, and two will originate in Newark, New Jersey.
This decision will greatly expand UPS' ability to serve this market,
which the company has done since 1988 through its agreement with
Sinotrans, its partner in China.
China Freight takes a slice of the Big Apple
============================================
THE China Freight Airline Company is now flying three flights per week
between the financial centres of Shanghai and New York.
All in all, the airline is flying eight flights a week between China
and the United States, and is reportedly exploring opportunities in
the US market ahead of China's much-publicised WTO entry.
The carrier has an extensive freight network within China with
Shanghai as its hub. The China Freight Airline Company operates 150
domestic and 20 international flights, serving destinations in
Australasia and Europe as well as North America.
Frankfurt rewrites record books
===============================
GERMANY'S Frankfurt-Main Airport (FRA) registered new monthly and
daily cargo records in October 2000, continuing the strong surge in
cargo activity seen throughout the year.
Handling 151,193 tonnes in October 2000 - more than any previous month
- FRA experienced a 13.3 percent jump in traffic over the same month
in 1999.
In addition, on October 15, FRA achieved a new absolute daily record
of 6,253 tonnes - breaking the 6,000-tonne level for the first time in
the airport's history.
Cumulative figures for January through to October this year show that
FRA handled 1,307,851 tonnes of air freight or 12.2 percent more than
the corresponding 10-month period in 1999.
The Frankfurt Airport company expects that it will maintain robust
cargo traffic for the rest of the year, holding on to its position as
Europe's top air cargo hub. In terms of cargo tonnage, FRA ranked
number one in Europe and number nine in the world in 1999.
CAAC plays it safe
==================
THE Civil Aviation Administration of China (CAAC) has vowed to work
together with the International Civil Aviation Organization (ICAO) to
improve air safety standards in the Peoples' Republic.
The CAAC has reported that a high-tech radar navigation system to
cover large areas of China will be operational soon, with a nationwide
system covering the whole of the country to be complete in five years
time. Satellite navigation technologies are also under construction.
China began working with ICAO last year and is busily upgrading its
systems to meet international standards.
FedEx heads down Mexico way
===========================
EXPRESS logistics giant FedEx has declared that it will open a customs
bonded freight processing warehouse in the Mexican city of Monterrey.
The new centre, based at Monterrey International Airport, is the
second of its kind in Mexico. Final details, including head count and
distribution type, have yet to be finalised.
Mire deepens for Alitalia
=========================
THE affects of Alitalia's failed marriage with KLM are slowly
filtering through to the carrier's balance sheet - a loss of US$125
million has been reported for the first three quarters of this year.
The Italian airline lost US$6.6 million during the corresponding
period last year and it has blamed the nose-dive in fortunes squarely
upon fare adjustments and sky-high fuel costs.
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