CSAV posts net 2011 loss of US$1.24 billion, revenue falls 1.2pc

CHILEAN shipping major CSAV, the world's 17th largest carrier, posted a loss of US$1.25 billion in 2011 down from a $182 million profit in 2010 with an operational decline of $959 million and 1.2 per cent fall in revenue to $5.15 billion. In the fourth quarter, the...

CMA CGM posts $30m loss in 2011

CMA CGM, the third largest shipping company after Maersk and MSC, reported a consolidated net loss of US$30 million loss last year in a challenging market environment. EBITDA stood at US$711 million, down from 2010, a year in which the entire container shipping industry...

Susi Air will open a dozen new flight routes

The pioneer Airline, PT Asi Pudjiastuti aka Susi Air, plans to add dozens of new flight routes in Java, Kalimantan and East Indonesia. Among the flight route to be opened it is, Cilacap-Yogyakarta, Cilacap-Semarang, Jakarta-Cilacap and some other routes across Jayapura....

Maersk Line's new CEO Soren Skou cries 'slow down - we're destroying shareholder value'

THE container shipping business is consistently destroying shareholder worth and wishes to rein back fleet growth to enhance returns, says Maersk Line's new CEO Soren Skou. Mr Skou, who took over in mid-January, created the comments in London shortly once parent company,...