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Freight News

Maersk stretches cargo airline wings with inaugural US-Korea flight

A.P. Moller – Maersk announced the inaugural flight of Maersk Air Cargo´s new air freight service with scheduled flights between Greenville-Spartanburg, South Carolina (GSP) and Incheon, Korea (ICN).

The scheduled transpacific operation will commence on 31 October with two weekly flights introducing the first of three newly built Boeing 767-300 freighters that have recently been purchased by Maersk Air Cargo.

All US-Korea flights will be operated by Miami-headquartered cargo airline Amerijet International.

“Back in April, we announced the launch of Maersk Air Cargo as our integrated in-house air cargo carrier. With the introduction of this new service between the US and Korea, we have taken the next step in securing logistics solutions for our customers with our own aircrafts. Next to the new scheduled transpacific flights, we also operate own controlled capacity from Europe into the US, Mexico, South Africa, and Singapore,” commented Michel Pozas Lucic, global head of Air & LCL in A.P. Moller – Maersk.

The scheduled flight of Maersk Air Cargo also marks the first scheduled air cargo operation between the state of South Carolina and Asia.

Meanwhile, the Danish company recently opened a new Chicago Air Freight Gateway facility aiming to add more supply chain integration opportunities for customers using Chicago O’Hare International and Rockford International.

Source: Container News

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CMA CGM keeps air cargo results to itself, but spends big on aircraft

CMA CGM has spent some $753.3m in prepayments on its aircraft orderbook, up from $723.2m at the end of 2021, following its recent order for two 777 freighters, set to deliver in 2024. Meanwhile, the first of its previous order for two 777Fs joined the fleet on 31 May, with the second “in the process of being delivered”.

However, there was little other new information on air cargo in CMA CGM’s 39-page financial results for Q1. In what will surely change, CMA CGM does not currently separate out its air cargo results, instead lumping them in with ‘Other activities’ which “mainly” include port terminals and air cargo.

Nevertheless, ‘Other Activities’ saw revenue grow to $384m, up from $166.6m a year earlier in the first quarter. Ebitda grew 120% to $84.2m, while ebit jumped an impressive 702% to $35.3m, presumably accounting for the growth in air cargo.

Aside from those details, the group reiterated its recently announced plans on aircraft orders (four A350Fs joining between 2025 and 2026, giving it three aircraft types in its 12-strong future fleet); and agreement with Air France-KLM, which will see CMA Group head Rodolphe Saadé join the airline group’s board. CMA is investing some €400m in AF-KLM’s ex-post share capital, giving it 9% of the airline.

Details on the acquisition of Gefco were also similarly scant, although CMA said the purchase would “strengthen its development within Ceva Logistics”. While the European Commission has authorised CMA to acquire Gefco’s capital immediately, to save the company from sanctions being applied under its former owner Russian Railways, the deal still needs to be approved by competition authorities, and only then can Gefco be integrated.

CMA noted that Ceva meanwhile, has recently acquired Imgram Micro’s ecommerce-related business, including Shipwire, a logistics technology platform, for $2.9bn. It also acquired Colis Privé, a last-mile B2C parcel delivery company in France and Europe, revealing the group’s end-to-end strategy.

There was little further detail beyond limited results information, which showed that CMA’s Logistics segment, primarily Ceva’s operations, saw revenue increase 57% to $2.15bn, while ebitda rose 45% to $171.7m, and ebit jumped 162% to $39.4m.

Meanwhile, the whole CMA CGM group’s revenues for the quarter came in at $18.2bn, resulting in ebit of $7.6bn and a profit of $7.2bn.

Source: The LoadStar

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