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CSAFE Global

 

CSAFE Global

 

Fuel a more sustainable future

Air Austral Unilode Air Austral, a Reunion Island-based French airline, and Unilode Aviation Solutions, the market leader in outsourced unit load device (ULD) management, repair and digital services, have extended their ULD management partnership until 2026.

Unilode has been managing Air Austral’s ULD fleet since 2016. Under the terms of the renewed agreement Unilode will supply lighter weight and more durable digitalised containers for Air Austral to further reduce the fuel costs and CO2 emission of Air Austral’s five wide-body aircraft.

Joseph Brema, Chief Executive Officer, Air Austral, said: "We are very pleased with the renewal of our ULD management partnership with Unilode, particularly at a time when Air Austral is recovering its pre-Covid activity, and even strengthening its offer on some of its long-haul routes. The new digital containers supplied by Unilode will help us reduce our carbon footprint and save on fuel costs, an environmental issue to which Air Austral is particularly sensitive. Our partnership has delivered the expected results over the past six years, and we have been especially pleased with Unilode's commitment, presence and focus on meeting our expectations. We look forward to continuing partnering with Unilode for many years to come."

Ross Marino, Chief Executive Officer, Unilode, said: "It is great to see our airline customers' recovery and growth as the industry bounces back after the pandemic, and we are delighted with Air Austral's decision to extend our ULD management agreement for a further four years. Sustainability is high on Air Austral's agenda and the new lighter weight containers will contribute to reaching its carbon footprint reduction targets. We place great importance on continuous process and performance improvement and customer success, so we are delighted that our efforts are being recognised by Air Austral."

DSV Strong Q3 DSV reports strong results in Q3 2022, driven by good performance across divisions, with growth in earnings and market share gains across most business areas.

In the first nine months of the year, gross profit grew by 50%, while EBIT before special items grew 75% and adjusted free cash flow more than quadrupled compared to the same period last year.

DSV is releasing strong results in Q3 2022, driven by good performance across divisions, with growth in earnings and market share gains across most business areas. In the first nine months of the year, gross profit grew by 50%, while EBIT before special items grew 75% and adjusted free cash flow more than quadrupled compared to the same period last year.

Air & Sea achieved an 81% increase in EBIT before special items, Solutions achieved a 104% EBIT increase and Road achieved a 18% EBIT increase, for the first nine months of 2022.

The integration of Agility GIL is now successfully completed. The Q3 results are the first interim financial results to overlap with the integration, which commenced on 16 August 2021.

The global economic uncertainty has increased, but DSV's flexible business model enables the company to quickly adapt to changes.

DSV has upgraded the full-year outlook range for 2022. EBIT before special items is expected to be in the range of DKK 24,500-25,500 million (previously DKK 23,000-25,000 million).

Jens Bjørn Andersen, Group CEO: "We are very pleased to report a strong set of results for Q3 2022 and for the first nine months of the year. All three divisions continued the good performance with growth in earnings and market share gains across most of our business areas. The global economic uncertainty has increased, but we have great trust in our flexible business model, which enables us to quickly adapt to changes."

Based on DSV's strong performance in the first nine months of 2022 and our expectations for Q4, we upgrade the full-year outlook range for 2022 as follows:
EBIT before special items is expected to be in the range of DKK 24,500-25,500 million (previously DKK 23,000-25,000 million).

By separate company announcement on 25 October 2022, DSV will launch a new share buyback programme of up to DKK 3 billion. The share buyback programme will be concluded no later than on 14 November 2022. The share buyback programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 ("MAR") (save for the rules on share buyback programmes set out in MAR article 5). The execution of the share buyback programme will take place outside the scope of the Commission Delegated Regulation (EU) 2016/1052 ("the Safe Harbour Regulation").

Following the conclusion of the share buyback programme outside the Safe Harbour Regulation, a second share buyback programme of up to DKK 4 billion will be launched on 15 November 2022 in compliance with MAR and the Safe Harbour Regulation. The safe harbour share buyback programme will be concluded no later than 1 February 2023. A separate company announcement will be issued prior to launch of the safe harbour share buyback programme.

An extraordinary general meeting of DSV A/S will be convened shortly to take place on 22 November 2022 with a view to proposing a reduction of the share capital (treasury shares) and a renewal of the authorisation to acquire treasury shares.

APM Liberia MD Clay Crain will take over as Managing Director of APM Terminals Liberia effective November 1st and pending necessary approvals, replacing Jonathan Graham, who will take on a new role within Global Operations at APM Terminals and relocate back to the U.S.

A US national, Clay Crain comes with over 30 years of experience largely in oil and gas sector, including with leading players such as Weatherford International and EXPRO International and has been involved in various aspects of running businesses in West Africa and Latin America. He joins APM Terminals from SageRider, where, as Business Development Advisor, he is advising the boutique tech company that provides the latest technology solutions to the businesses in Oil and Gas Industry, towards development of West African markets. Prior to that, he also served as General Manager at Nigerian-owned oil and gas production solutions company Eunisell and as consultant to various companies from the energy sector.

“I am very happy to introduce Clay to our organisation and to APM Terminals Liberia, where I am sure he will make a big impact based on his vast experience and knowledge of African markets”, comments Igor van den Essen, Regional Managing Director, Africa and Europe at APM Terminals. “At the same time, I thank Jonny Graham for his great work in Liberia, where I am sure his passion and commitment will be greatly missed by the team.”

“I am excited about this new opportunity and thrilled to return to Africa and join the port logistics industry, which has such a great impact on people’s lives. APM Terminals has a bold ambition to become the world’s best terminal company and it will be a privilege for me to be part of that journey”, shares Clay Crain.

Clay Crain will replace Jonathan Graham, who has been at the helm of APM Terminals Liberia since June 2021 and who is now taking over a role within APM Terminals’ Global Operations, based in Charlotte, NC in the U.S.

“As I transition into my new role, I am confident that APM Terminals Liberia will be in safe hands with Clay, who is no stranger to West Africa and who has a deep understanding of local markets and its dynamics. He will take over a great and enthusiastic team and I have no doubts that together they will achieve great results”, says Jonathan Graham.

APM Terminals Liberia has been operating a state-of-the-art multi-purpose port in the Freeport of Monrovia since 2011 on a 25-year concession from the Government of Liberia. With a capacity of approximately 200,00 TEU (twenty-foot equivalent unit) per year, the terminal also has facilities for General Cargo (Rice, Wheat, Cement, Clinker, Limestone, Gypsum etc), Project Cargo and Break Bulk, and provides pilotage and towing services.

CN nomineesCN (TSX: CNR) (NYSE: CNI) today announced that during the week of October 16 (week 12 of the 2022-2023 crop year), it moved over 806,000 metric tonnes of grain from Western Canada, exceeding its previous record by over 50,000 metric tonnes.

This record also comes on the heels of CN’s second best September ever for grain movement from Western Canada, with over 2.64 million metric tonnes moved.

“This performance shows what can get done when partners collaborate to create supply chain solutions to supply chain challenges. We are very proud to have set a new record for the amount of Western Canadian grain moved in a single week. We are confident that our railroaders will continue delivering results for Canadian farmers and all of our customers.” Doug MacDonald, Chief Marketing Officer, CN.

On October 5th, a bridge fire shut down a CN branch line in Northern Alberta. CN’s Engineering team worked around the clock and a little over a week later the track was reopened, getting grain, lumber and other products back on the move. The team mobilized the equivalent of 20 Olympic-size swimming pools of material safely and without incident, to fill in where a bridge once stood.

CN’s recently published 2022-2023 Winter Plan provides more information on the wide range of initiatives CN has put into place to ensure it has the capacity and resources to respond safely and efficiently to the needs of customers in the coming winter months.

Ethiopian A350 1Ethiopian Airlines, Africa’s leading carrier, is pleased to announce that it will add Zürich to its expanding global network, with thrice weekly flights.

The first flight from Addis Ababa to Zürich will take off on 31 October 2022, operated with the ultra-modern Boeing 787 Dreamliner.

Zürich will be Ethiopian Airlines second destination in Switzerland next to Geneva, and its 19th gateway to Europe. The city is the financial and industrial center of Switzerland and hosts the headquarters of a number of international organizations including football's governing body FIFA.

Commenting on the launch of the new flight, Ethiopian Airlines Group CEO Mesfin Tasew said, “We are glad to open a new route connecting the financial capital of Switzerland, Zürich with over 130 destinations of Ethiopian Airlines via Africa’s political capital, Addis Ababa. The new flight will expand our presence in Switzerland and Europe at large and provide enhanced air connectivity between Switzerland and Ethiopia. The new service will also facilitate diplomatic and socioeconomic relations not only between Ethiopia and Switzerland, but also between Africa and Europe. As a pan-African carrier, we are committed to further expand our global network and connect Africa with the rest of the word better than ever before.”

Currently, Ethiopian Airlines flies to Geneva three times a week, which will increase to four weekly flights by end of October. With the launch of services to Zürich, Ethiopian Airlines flights to Switzerland will increase to seven per week.

KuehneNagel Novo Nordinsk Novo Nordisk, one of the leading healthcare companies in the world, partners with Kuehne+Nagel to drive the development of sustainable aviation fuel (SAF).

This will be a step towards meeting the ambitious Novo Nordisk target to reach zero CO2 emissions from operations and transport by 2030. With the deployment of 12 million litres of SAF, Novo Nordisk will be able to replace fossil fuel for all Kuehne+Nagel air freight shipments in 2022.

Having set ambitious carbon reduction targets, Kuehne+Nagel actively supports customers with their transition to a low carbon business model by providing various solutions for reducing or avoiding carbon emissions. As one of the key activities, Kuehne+Nagel continues to invest into the adoption of alternative aviation fuels and expand its offering. Novo Nordisk chose the Kuehne+Nagel sustainable fuel solution to reduce the environmental footprint of their air freight shipments in 2022. Use of 12 million litres of Kuehne+Nagel SAF for all Novo Nordisk air freight avoids direct emission of around 30,000 tonnes of CO2.

Such commitment underlines a growing demand for low carbon shipping options, leading to an increase in the production, development and deployment of SAF. In this effort, Kuehne+Nagel has been actively raising awareness across the industry by promoting the importance of sustainable fuels as the most effective measure to reduce the environmental footprint of air freight.

Yngve Ruud, Member of the Management Board of Kuehne+Nagel responsible for Air Logistics, comments: “Novo Nordisk is not only leading the way in driving change to defeat diabetes and other serious chronic diseases, but also in their shipping by using sustainable options. I am pleased that with our global SAF solutions, customers can easily switch to low carbon air transport. It’s another step on the way to the “zero impact” goal and yet another signal for more sustainable fuel production and use globally.”

Dorethe Nielsen, Vice President of Corporate Environmental Strategy at Novo Nordisk comments: “This is yet another step in Novo Nordisk’s continuous support of the development of sustainable aviation fuel. Our air freight accounts for most of our product distribution emissions as we provide life-saving medicines to patients around the world. We want to drive change in this area to help pave the way for other companies to also transition and cut emissions.”

By joining the Science Based Targets initiative, Kuehne+Nagel has set ambitious environmental goals in transitioning to a low carbon business model. This is is done by reducing the company’s own carbon emissions and supporting its customers with their transition.

CSX double stackCSX Corp. (NASDAQ: CSX) today announced third quarter 2022 operating income of $1.58 billion compared to $1.44 billion in the prior year period.

Net earnings of $1.11 billion, or $0.52 per share, compared to $968 million, or $0.43 per share in the same period last year.

“I would like to thank Jim Foote and the entire CSX team for delivering another quarter of solid earnings growth,” said Joe Hinrichs, president and chief executive officer. “I am tremendously excited to work with all the railroaders who make this performance possible and to lead an organization that is fundamentally committed to operational excellence. CSX has great potential for profitable growth over the long-term, and my key objective is to help ensure that we realize this opportunity while building a robust organization that will help drive additional value for our customers, our employees, and our shareholders.”

Third Quarter Financial Highlights: Revenue reached $3.90 billion for the quarter, increasing 18% year-over-year, driven by higher fuel surcharge, pricing gains, a 2% increase in volumes, and an increase in storage and other revenues; Operating income of $1.58 billion increased 10% compared to the prior year. Third quarter results include additional labor and fringe expense related to tentative union agreements, with $42M specifically to adjust for wage, bonus, and other benefit costs in prior periods; Operating ratio increased to 59.5%, including the effect of the tentative union agreements; Diluted EPS of $0.52 increased 21% from $0.43 for the third quarter of 2021.

CSX executives will conduct a conference call with the investment community this afternoon, October 20, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-510-2008. For callers outside the U.S., dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and enter in 3368220 as the passcode.

In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website. Following the earnings call, a webcast replay of the presentation will be archived on the company website.

This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website and on Form 8-K with the Securities and Exchange Commission.

Los Angeles C40 Shanghai With high levels of retail and other inventory already on shelves and in warehouses, cargo volume at the Port of Los Angeles eased again in September.

The Port handled 709,873 Twenty-Foot Equivalent Units (TEUs) in September 2022, a 21.5% decrease from September 2021, which was the Port’s busiest September on record.

Closing out the third quarter, the Port of Los Angeles has processed 7,864,514 TEUs during the first nine months of 2022, about 4% down from last year’s record pace.

“Despite what will likely be a soft ending to 2022, we are on track to have the second-best year in our history,” Port of Los Angeles Executive Director Gene Seroka said at a media briefing. “More importantly, the cargo backlog that began last year has been nearly eliminated due to the diligent, combined efforts of our supply chain partners.”

Seroka was joined at the briefing by Jay Timmons, President and CEO of the National Association of Manufacturers. Timmons discussed the critical role the Port plays in delivering parts and components to factories throughout America.

September 2022 loaded imports reached 343,462 TEUs, down 27% compared to the previous year. Loaded exports came in at 77,680 TEUs, up 3% compared to last September. Empty containers landed at 288,731 TEUs, a 20% decline compared to last year.

Drydocks KANFA Drydocks World, a DP World Company, has begun the construction of a new topside oil production module for KANFA, an independent process design and engineering company which will be deployed at the Karish field in the eastern Mediterranean.

The steel cutting ceremony for the KANFA AS Module M10, an oil separation train, marks the first collaboration between Drydocks World and KANFA AS.

Drydocks World scope includes the procurement of bulk materials (structure, Piping, electrical & instrumentation), fabrication, surface treatment including PFP application, mechanical completion, load out and sea fastening for module M10.

Following completion, the topside module will be transported to the Karish field for integration onto a floating production, storage and offloading (FPSO) vessel for Mediterranean-focused exploration and production company, Energean.

Energean will transport, lift and install the module onto the Energean Power FPSO.

Capt. Rado Antolovic PhD, CEO of Drydocks World said: “At Drydocks World we have extensive experience in marine vessel construction, allowing us to ensure the delivery of the highest quality product within set timelines. This collaboration with KANFA AS is a testament to our proven technical capabilities and track record. Our experience with FPSO vessels is well recognised and we look forward to delivering what I am sure is the first of many successful collaborations with KANFA AS.”

Vegard Solheim, Project Director, KANFA AS said: “It is a great pleasure and an honour, to be here at Dubai Drydocks to mark the steel cutting of our newbuild Module M10 for the Karish project. KANFA will supply a second, 700 tonne oil train for the Energean Power FPSO. The addition of a new module will increase the FPSO’s liquid productivity.”

DP World volume growthDP World Limited handled 59.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2022, with gross container volumes increasing by 2.0% year-on-year on a reported basis and up 2.5% on a like-for-like basis[1].

On a 3Q2022 basis, DP World handled 20.1 million TEU, up 1.5% year-on-year and up 2.1% on a like-for-like basis.

3Q2022 gross volume growth was mainly driven by Asia Pacific, Middle East & Africa, Americas, and Australia with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia. Jebel Ali (UAE) handled 3.5 million TEU in 3Q2022, up 2.0% year-on-year.

At a consolidated[2] level, our terminals handled 34.6 million TEU, up 1.9% year-on-year and up 1.4% on a like-for-like-basis in 9M2022. On a 3Q2022 consolidated level, we handled 11.7 million TEU, increasing 2.7% on a reported basis and 1.5% year-on-year on a like-for-like[3] basis.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World commented: "We report another robust set of throughput figures with nine-month volume growth of 2.5%, which is once again ahead of industry growth of 1.1%[4]. As expected, growth rates have decelerated due to the more challenging market conditions, but global trade continues to remain resilient, and our portfolio is expected to continue to outperform the market.

"Growth in the third quarter was primarily driven by a solid performance across our Asia Pacific, Americas and Australia terminals. Encouragingly, our flagship port of Jebel Ali (UAE) continues to deliver robust volumes with growth of 2.0% year-on-year.

"Looking ahead, the near-term outlook remains uncertain given the geopolitical environment, inflationary pressures and currency fluctuations but we remain positive on the medium to long term outlook for global trade. Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full year results."

NAC 1Embraer and Nordic Aviation Capital (NAC) have signed a contract for up to 10 conversion slots for the E190F/E195F, with deliveries starting in 2024. In May of 2022, NAC and Embraer reached an agreement in principle to take up to 10 conversions; this order is now confirmed. The aircraft for conversion will come from NAC’s existing E190/E195 fleet.

In July of 2022, NAC signed a memorandum of understanding to place their first two E190F passenger-to-freight conversions with Astral Aviation, based in Nairobi, Kenya.

Embraer’s E-Jets P2F conversions deliver segment-leading performance and economics. The E-Jets Freighters will have over 50% more volume capacity, three times the range of large cargo turboprops, and up to 30% lower operating costs than narrowbodies.

With more than 1,700 E-Jets delivered by Embraer globally, P2F customers benefit from a well-established, mature, global services network, in addition to a comprehensive portfolio of products ready to support their operations from day one.

The conversion to freighter will be performed at Embraer’s facilities in Brazil and includes main deck front cargo door; cargo handling system; floor reinforcement; Rigid Cargo Barrier (RCB) – 9G Barrier with access door; cargo smoke detection system (class E main deck cargo compartment), Air Management System changes (cooling, air circulation, etc.); interior removal and provisions for hazardous material transportation.

Combining under-floor bulk cargo and main deck, the maximum gross structural payload is 13,150kg for the E190F and 14,300kg for the E195F. Considering typical e-commerce cargo density, the net weights and volumes are also impressive: the E190F can handle a payload of 23,600lb (10,700kg) while the E195F a payload of 27,100lb (12,300 kg).

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