Hapag-Lloyd (OTC: HPGLY) today successfully completed its 100 % acquisition of SM SAAM’s terminal business and related logistics services, which is based on an agreement announced in October 2022. The transaction was approved unconditionally by the relevant antitrust authorities of all countries involved in this acquisition process.
Investing in terminal infrastructure is a key element of Hapag-Lloyd’s strategic agenda, and Latin America is one of its key markets. The transaction includes interests in terminals in Iquique, Antofagasta, San Antonio, San Vicente and Corral (Chile), Port Everglades (United States / Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador) and Caldera (Costa Rica) as well as related logistics services. The acquisition will further strengthen Hapag-Lloyd’s core liner shipping business and help the carrier to build up a robust and attractive terminal portfolio.
The new entity will be led by its CEO, Mauricio Carrasco, who has been Managing Director for the Terminals Division within the SAAM Group since 2020. Mauricio Carrasco is an experienced senior executive with long-standing experience in Latin America and globally. He has served as Senior Vice President of Development at CSAV and as Senior Director at Hapag-Lloyd, with responsibilities in the Americas, China, Dubai, and India. Rodolfo Díaz, former Senior Director Business Administration Region Latin America at Hapag-Lloyd, will join him as CFO.
Hapag-Lloyd has continuously expanded its involvement in the terminal sector and holds stakes in the Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, the Italy-based Spinelli Group, the India-based J M Baxi Ports & Logistics Limited, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.
NASA and Boeing unveiled the new X-66A livery at EAA AirVenture Oshkosh. (Image: Boeing)
OSHKOSH, Wis., July 25, 2023 /PRNewswire/ – Boeing [NYSE: BA] and NASA will collaborate with U.S. airlines to advise the Sustainable Flight Demonstrator (SFD) project and development of the X-66A research aircraft. As part of a new sustainability coalition, Alaska Airlines, American Airlines, Delta Air Lines, Southwest Airlines and United Airlines will provide input on operational efficiencies, maintenance, handling characteristics and airport compatibility.
NASA and Boeing also unveiled the new X-66A livery today at EAA AirVenture Oshkosh.
The X-66A will test the Transonic Truss-Braced Wing (TTBW) airframe configuration and will be built from a modified MD-90 aircraft at a Boeing facility in Palmdale, Calif. It is NASA’s first X-plane focused on helping achieve its goal of net-zero aviation greenhouse gas emissions.
When combined with expected advancements in propulsion systems, materials and systems architecture, a single-aisle airplane with a TTBW configuration could reduce fuel consumption and emissions up to 30% relative to today’s domestic fleet of airplanes.
The U.S. airlines will offer feedback throughout the project, including:
Design: Airline participants will share feedback on sustainable operations and airport compatibility. While the X-66A will have a wingspan of 145 feet, the TTBW design could be used by airplanes of different sizes and missions and may benefit from folding wing tips to accommodate existing airport infrastructure.
Simulation and lab testing: Airline pilots will have a chance to experience the X-66A through a flight simulator and assess the vehicle’s handling characteristics.
Flight testing: Airline operations and maintenance teams will assess the X-66A as modifications are made to the airplane. Flight testing is slated for 2028 and 2029 out of NASA’s Armstrong Flight Research Center at Edwards Air Force Base.
Jacksonville, Florida – July 12, 2023 – CSX Corporation (NASDAQ: CSX) announced that the Company’s Board of Directors approved a $0.11 per share quarterly dividend on the Company’s common stock. The dividend is payable on September 15, 2023, to shareholders of record at the close of business on August 31, 2023.
About CSX and its Disclosures
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com.
Chelsea Football Club has today unveiled Hilton (NYSE: HLT), the global leader in hospitality, as its official global hotel partner. The partnership will enable Chelsea Football Club and Hilton to provide extended opportunities for Hilton’s more than 158 million Hilton Honors members around the world in a new and unique way, while also serving as the official host to the Chelsea team on the road.
As a pioneer in the industry for more than 100 years, Hilton will welcome Chelsea to its portfolio of hotels as the team’s official home away from home, starting with locations in the United States during the team’s summer tour. Recognizing how much it matters where an elite sports team stays ahead of key fixtures, players and coaches will experience and enjoy Hilton’s world-class service and hospitality.
Building off its high-profile partnerships in the music, sports and entertainment world, Hilton Honors will offer a curated selection of one-of-a-kind experiences, which will kick off during this summer’s pre-season tour and extend into next season’s matches in London. Look out for the Hilton name at Chelsea men’s and women’s matches, and across Chelsea digital channels with special and engaging content for fans to enjoy.
Bengaluru, India, 4 July 2023 – Alstom (OTC: ALSMY) , global leader in smart and sustainable mobility, launches its flagship Young Engineering Graduate Program (YEGP) 2023 with a target to onboard 700 young graduate engineers in India over the next two months. This is the highest ever intake under this initiative in the country. YEGP is a key element of Alstom’s India hiring strategy since 2015, aimed at developing young engineers talent for Indian and global business needs. Out of 700 hires, 58% are women engineers in line with the company’s gender diversity focus. Further, the campus hiring has been done from 54 universities across 26 states ranging from several Northeastern states to Gujarat and from Jammu & Kashmir to Kerala in tandem with Alstom’s regional diversity promise. There is a 2x increase vis-à-vis 30 hires from the last year (2022) from the North-eastern states alone.
The 14 days program focuses on providing an immersive and engaging experience to all the YEGs, while helping them get a better understanding of Alstom’s business, operations and functions through close interactions with the leadership team. The candidates are being onboarded as Graduate Engineer Trainees & Post Graduate Trainees will be enabled through structured induction, technical, functional and on the job trainings. They will be taking up roles such as, Application Engineers, Train Control Engineer, Train Design Engineer, Testing & Commissioning Engineer etc. and will be working across Alstom’s six manufacturing facilities and four engineering centers catering to domestic and international markets.
Since its inception, more than 1800 engineering graduates have been recruited under this program in partnership with leading technical/engineering colleges and universities across India. In terms of engineering disciplines, the hires come with engineering specializations in Mechanical, Electrical, Electronics, Instrumentation, Computer Science, Industrial, Mechatronics, etc.
Alstom has also retained its place as the first and only organisation in India to be certified as a Top Employer in the mobility sector consecutively for the third time this year. This is a testament to Alstom’s continued commitment towards creating a better workplace through excellent people practices. To ensure the integration and development of its young recruits, the company counts on a strong internal learning culture. Alstom India is leading globally in terms of learning hours. Through Alstom University, an online learning management system, employees can learn about various subjects for their desired roles at their own pace.
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To receive mileage credit, present your MileagePlus number when you make reservations.
Bonus Miles Promotion Terms and Conditions:
Offer is available only to MileagePlus members who purchase a ticket through JSX and travel on a flight operated by JSX.
All flight activity for applicable segment must be completed between June 1, 2022 and August 31, 2022.
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Flights on award travel tickets, and other tickets that do not earn Premier qualifying credits, do not qualify for this offer.
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**Free checked bags terms and conditions apply. Please visit jsx.com/faqs for the additional information.
São José dos Campos, Brazil, June 1, 2022 – Sky High Aviation, an airline based in the Dominican Republic, has taken delivery of its first Embraer (NYSE: ERJ) E190 passenger jet. This makes the air carrier the only E-Jet operator based in the Caribbean. The first of two E190s being provided by regional aircraft lessor, TrueNoord, arrived last week at Las Americas José Francisco Peña Gómez airport after transition works were completed at Embraer’s MRO facility in Macon, Georgia, USA. The second E190 is to be delivered to Sky High later this month.
The addition of the E190s will bring a new level of comfort for passengers and open new international routes from the region. Sky High currently operates a fleet of two 50 seater Embraer ERJ 145s flying to 10 island destinations in the Caribbean. The E190s have been configured in a comfortable dual-class layout with 98 seats and will serve Sky High’s existing destinations as well as opening new international routes to the United States, Central and South America.
Juan Chamizo Alonso, President of Sky High Aviation, said, “It’s a huge differentiator for us to be the only operator in the region with E-Jet capability, and a great way to celebrate our first 10 years of operations. The addition of the larger, more modern and capable E190 is the next step in our development and our offering to our customers. The E190 is the perfect aircraft to help manage demand in peak times, as well as to open and maintain the international routes essential for our continued development as a leading Caribbean operator.”
Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors today voted to increase the quarterly dividend on the Company’s common shares by 10% to $1.18 per share. The dividend is payable December 30, 2021, to shareholders of record December 20, 2021. Union Pacific has paid dividends on its common stock for 122 consecutive years.
“Union Pacific continues to deliver strong cash returns to our shareholders,” said Jennifer Hamann, Union Pacific executive vice president and chief financial officer. “Today’s action, coupled with the 10% increase earlier this year, is consistent with our targeted dividend payout ratio of 45 percent.”
About Union Pacific
Union Pacific delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.
São Paulo, Brazil, November 5, 2021 – Embraer (NYSE: ERJ) announced the company’s operating and financial information on a consolidated basis in United States dollars (US$) in accordance with IFRS. The financial data presented in this document as of and for the quarters ended September 30, 2021 (3Q21), June 30, 2021 (2Q21) and September 30, 2020 (3Q20), are derived from the unaudited financial statements, except annual financial data and where otherwise stated.
HIGHLIGHTS
• Embraer delivered 9 commercial jets and 21 executive jets (14 light / 7 large) in 3Q21, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 3Q21 was US$ 16.8 billion;
• Revenues in 3Q21 reached US$ 958.1 million, representing year-over-year growth of 26.3% compared to 3Q20, with double digit growth in all segments;
• Excluding special items, adjusted EBIT and EBITDA were US$ 35.7 million and US$ 79.2 million, respectively, yielding adjusted EBIT margin of 3.7% and adjusted EBITDA margin of 8.3%. In the first nine months of 2021, adjusted EBIT margin was 3.8% and adjusted EBITDA margin was 8.9%;
• Adjusted net loss (excluding special items and deferred income tax and social contribution) in 3Q21 was US$ (33.9) million, with adjusted loss per ADS of US$ (0.18);
• Embraer generated free cash flow in 3Q21 of US$ 21.3 million, and in the first nine months of 2021 free cash usage was US$ (160.2) million. The positive free cash flow in 3Q21 represented the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter. The free cash flow in both periods represented a significant improvement compared to the prior year periods on better profitability and working capital efficiencies, particularly with respect to inventory management;
• The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;
• Given better-than-expected free cash flow performance over the first nine months of 2021, Embraer is updating its guidance for free cash flow without M&A or divestitures to a range of US$ 100 million or better, from the prior range of US$ (150) million to breakeven. The Company reiterates its other financial and deliveries guidance for 2021 of commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 aircraft, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, and adjusted EBITDA margin of 8.5% to 9.5%.
CALGARY, Alberta & KANSAS CITY, Mo.–(BUSINESS WIRE)– Canadian Pacific Railway Limited (NYSE: CP) and Kansas City Southern (NYSE: KSU) have announced they have jointly filed a railroad control application with the Surface Transportation Board (“STB”) regarding the proposed transaction to create Canadian Pacific Kansas City (“CPKC”), the only single-line railroad linking the United States, Mexico and Canada.
The comprehensive control application provides an overview of the proposed operational integration of the CP and KCS rail networks, the impact of that consolidation on the companies’ finances and labour needs, and the anticipated competitive and other benefits that will flow from providing shippers with new and better transportation alternatives. Information in the filing outlines the public and customer benefits a CP-KCS combination would bring, including more efficient north-south trade arteries to support the interconnected supply chains of the United States, Mexico and Canada.
In addition to the central foundation of the transaction to invigorate transportation competition and support economic growth across North America, the CP-KCS combination will generate many other public benefits, including:
The creation of more than 1,000 direct new jobs system-wide, including approximately 760 in the United States, over the next three years brought about by expanded rail operations across the combined network.
Capital investments in new infrastructure of more than USD$275 million1 over the next three years to improve rail safety and capacity of the core north-south CPKC main line between Louisiana and the Upper Midwest.
Avoidance of more than 1.5 million tons of greenhouse gas (GHG) emissions within five years due to the improved efficiency of CPKC versus current operations.
Diverting 64,000 long-haul truck shipments to rail annually with new CPKC intermodal services, eliminating another 1.3 million tons of GHG emissions over the next two decades, saving $750 million in highway maintenance costs.
Rail customers will not experience a reduction in independent railroad choices as a result of the CP-KCS combination. The joint control application reiterates the applicants’ commitment to keep all existing freight rail gateways open on commercially reasonable terms, including the Laredo gateway between the United States and Mexico, and shows how customers will not lose competitive routings because no new regulatory “bottlenecks” are being created. It also describes how the combined company will compete aggressively to attract traffic to its network via new single-line lanes between Canada, the Upper Midwest and the Gulf Coast, Texas, and Mexico.
More than 960 stakeholders, including more than 440 shippers, 186 smaller railroads, dozens of public officials, eight major ports, railroad labor unions representing both CP and KCS employees and 289 rail industry suppliers have written letters to the STB supporting CP’s proposed combination with KCS.
CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately $31 billion, which includes the assumption of $3.8 billion of outstanding KCS debt. The transaction, which has the unanimous support of both boards of directors, values KCS at $300 per share, representing a 34 percent premium, based on the CP closing price on Aug. 9, 2021, the date prior to which CP submitted a revised offer to acquire KCS, and KCS’ unaffected closing price on March 19, 2021.2
The transaction is subject to approval by shareholders of each company along with satisfaction of customary closing conditions, including Mexican regulatory approvals. Shareholders are expected to vote on the transaction later this year.
CP’s ultimate acquisition of control of KCS’ U.S. railways is subject to the approval of the STB. In April 2021, the STB determined it would review the CP-KCS combination under the merger rules in existence prior to 2001 and the waiver granted to KCS in 2001 to exempt it from the 2001 merger rules. In August 2021, the STB reaffirmed that the pre-2001 rules would govern its review of the CP-KCS transaction. On Sept. 30, 2021, the STB confirmed that it has approved the use of a voting trust for the CP-KCS combination.
The STB review of CP’s proposed control of KCS is expected to be completed in the second half of 2022. Upon obtaining control approval, the two companies will be integrated fully over the ensuing three years, unlocking the benefits of the combination.
While remaining the smallest of six U.S. Class 1 railroads by revenue, the combined company would have a much larger and more competitive network, operating approximately 20,000 miles of rail, employing close to 20,000 people, and generating total revenues of approximately $8.7 billion based on 2020 actual revenues.
For more information about the benefits of the CP-KCS combination, visit futureforfreight.com
