CMA CGM volumes up but net revenue down in Q2
CMA CGM recorded an increase in volumes of 9.6% in the second quarter of 2018 and revenues grew by 7.4% to US$5.7 billion.
However, consolidated net revenue in the second quarter dropped to US$22.7, partly attributed to rising bunker fuel costs which increased by 27.7% per ton during the last 12 months. The carrier also completed the purchase of Finnish operator Containerships in the same quarter.
Spicejet launches India’s first dedicated e-commerce flights
The Indian ecommerce sector now has its first dedicated airfreight service, offering next day and same day delivery of a range of consumer electronics, apparel and fresh farm produce.
Spicejet has deployed a 737 freighter which will also transport, mail and medical products. The company plans to add four more converted Boeing 737 aircraft in 2018, and is considering an additional six freighters next year.
China announces subsidies to tariff affected exporters
To offset the financial impact of US tariffs on Chinese goods, China’s Ministry of Finance has announced a range of measures to support exporters who will be affected.
The measures, to take effect on September 15, include export rebates of for 397 types of goods ranging from children’s books to lubricants. The benefit will be that there will be less Value Added Tax paid by companies shipping goods to the US.