SGL eyes 'big' M&A deals, and declares itself the 'acquirer of choice'
Scan Global Logistics (SGL) looks to be shaping itself to be the next DSV, noting ...
Singapore Airlines Cargo boosted the group’s overall results, with third-quarter volumes rising 6.6% to give it an operating profit of S$53m (US$37.4m), on revenue up S$8m, or 1.5%.
Yields, however, stayed under pressure, declining 5.2%. Operating profit for SIA Cargo for the nine-month period to December 2016 was S$8m, compared with a loss of S$10m the year before. Expenditure fell S$43m, mostly due to lower fuel costs. Capacity rose 5.1%.
SIA Cargo has been unprofitable for seven of the past eight years. The carrier is due to cut its 747-400 freight fleet to seven by the end of this quarter, but has decided not to reduce it further for reasons of scale and efficiency. It may replace part of the fleet, and will decide in the coming years. At its peak, in 2007, SIA Cargo operated 16 747-400Fs.
Overall, SIA Group saw operating profit rise by 1.7% year-on-year to S$293m.
MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'
Urgent call for breakdown of cargo onboard as General Average declared on Dali
Hong Kong drops out of world's top 10 busiest container ports
Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker
Flexport is 'back on track' – now it needs to start growing again
Bottlenecks and price hikes as airlines now avoid Iran airspace
Capture of MSC Aries will further drive up Indian export costs
Iran may now pose a threat to multimodal supply chains via Dubai
Alex Lennane
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