A combination of weaker cargo volumes by associates (led by Hong Kong) saw SATS' share of profits of associates and JVs fall 15.7 per cent to $10.38 million
Changi Airport ground handler Singapore Airport Terminal Services (SATS) reported a more than 25 per cent drop in net profit due to rising costs, loss from the disposal of its UK-based food business, falling contribution from joint ventures and
Record rate rise on Asia-Europe
In a surprise move, Hapag-Lloyd announced a massive General Rate Increase (GRI) on the Asia-North Europe and Asia-Mediterranean trades and this was followed quickly by Maersk Line, Cosco Container Lines (Coscon) and Israeli line ZIM.
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