Short news
January 31, 2013 Category Logistics, Short news
Airlines & airports
- China’s first homegrown army transport aircraft, the Y-20, has successfully completed its maiden flight and will now undergo further experiments and test flights. The Y-20, or Transport-20, is a huge, multifunction freighter similar in size to the Russian IL-76 but smaller than the United States’ C-17. The giant aircraft makes China the fourth country in the world, following the U.S., Russia and Ukraine, to develop a jumbo airfreighter. The aircraft can handle a payload of up to 66 tons. The Y-20 program is part of an effort to develop an indigenous long-range jet-powered heavy transport aircraft.
Logistics industry
- Shanghai will more than double its bonded warehouse space this year amid speculation the world’s biggest harbor will be the site of China’s first delivery point approved by the London Metal Exchange. Shanghai will add 80,000 to 90,000 square meters by the middle of this year to an existing 50,000 sq m, said Eric Ni, Business Development Manager at Shanghai Free Trade Zones United Development Co. Record copper inventories forced warehouses to stack stocks outdoors last year.
Port & sea transport
- About 464 shipyards in China won 18.7 million DWT of orders worth USD14.3 billion last year, the lowest since 2004, according to Clarkson. That compares with contracts for 14.6 million tons worth USD29.6 billion received by 88 yards in South Korea, the world’s second-biggest shipbuilding nation. 38% of yards in China did not get contracts for new vessels last year, and 10% had no deliveries scheduled beyond year-end, the London-based shipbroking unit of ICAP said last month.
- China Shipbuilding Industry Corp recorded higher revenue and profits in 2012. Revenue increased 7.7% year-on-year to CNY175 billion, while profits increased more than 7% from a year earlier. China Shipbuilding attributed the increases to its strategy of diversifying and adjusting its products. To reduce its business risks, the company devoted more of its resources in 2012 to various non-marine products, such as equipment needed for offshore oil exploration and the generation of wind power. Such products are likely to be the source of more than half of our sales revenue over the next few years. During the first 10 months of 2012, the Chinese shipbuilding industry’s revenue declined by 5% year-on-year to CNY41.3 billion.
- Zhang Zhirong, one of the richest men in China, gave up his controlling stake in China Rongsheng Heavy Industries Group Holdings, the country’s largest shipbuilder outside state control, which he co-founded. The former Chairman has reduced his interest to 29.32% from almost 48% in two transactions, according to a filing to the Hong Kong stock exchange.
- Orient Overseas Container Line said revenue from its container shipping division rose 6.7% to USD5.9 billion last year following a 3.7% rise in box volumes to 5.2 million TEU. But Barclays Analyst Jon Windham said fourth-quarter revenue dropped 10.9% compared with the third quarter after container volumes saw a quarter-on-quarter fall of 6.7%.
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