Short news
February 28, 2013 Category Logistics, Short news
Airlines & airports
- Air cargo throughput in Hong Kong grew 21.2% last month year-on-year to 334,000 tons, according to the Airport Authority. Stanley Hui, Chief Executive of the Authority, said the jump in cargo throughput was mainly attributable to the timing of the Lunar New Year. All major markets showed growth over January last year, with Taiwan and North America outperforming other key regions. Imports, exports and transshipments all grew by double digits.
- Cathay Pacific Services started handling airfreight at the airline’s HKD5.9 billion cargo terminal at Hong Kong International Airport on February 21. The complex, which can handle 2.6 million tons of cargo a year, will initially handle transfer transshipments, valuable cargo and transit mail under a three-stage opening program.
Ports & sea transport
- The history of Shanghai as an important shipping center for China could be older than first thought, following the discovery of about 2,000 ancient relics from the Tang Dynasty (AD 618-907). “The discovery is groundbreaking,” said Chen Xiejun, Director of the Shanghai Museum. “The porcelain uncovered not only proves the city was a major port of trade, but also a prototype as an international shipping center,” said Song Jian, Director of the Archaeology Research Department of the Shanghai Museum. “The finding is just the tip of the iceberg,” said Song, describing the 15-square-km Qinglong site southwest of Shanghai. Field research at the site could take years.
- Rongsheng Heavy Industries has entered closed-door talks with China Citic Group to issue new shares in a private placement to raise USD200 million. With Citic investment, the privately-run Rongsheng could eventually become a state-controlled enterprise. Rongsheng’s largest shareholder and former Chairman Zhang Zhirong last year paid USD14 million to settle an insider trading case in the United States. Zhang needs new investors, in particular an entity like Citic with a strong government background, to help Rongsheng overcome business challenges and financial difficulties as the global shipbuilding industry suffers a downturn amid a weak economic recovery worldwide, sources said.
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