Tag: OTC (Page 1 of 4)

Maersk introduces new digital solution for Air Freight booking

February 12, 2024 / WIL BALDWIN

Mumbai, Maharashtra, India – A.P. Moller – Maersk AS (US-OTC: AMKBY), as a part of its integrated logistics solutions, has launched a fully digital solution for customers willing to purchase air freight solutions. The new online solution available on Maersk.com provides customers with an option to book their air cargo requirements through a simple online tool that will provide customers with instant prices for as many as 70,000 connections between virtually all relevant airports globally. With the launch of this new solution, Maersk takes further steps towards connecting and truly simplifying its customers’ supply chains.

Maersk’s air freight cargo coverage extends to 70,000 airport pairings across more than 90 countries around the world. Being a fully online solution, the platform also allows the customer to book cargo movement for any of the 70,000 airport pairings from anywhere in the world.

Maersk’s air freight solutions offer cargo movement from most of India’s international airports. Combined with Maersk’s integrated logistics solutions that include a robust hinterland coverage of distribution network, Maersk allows such cargo movement to and from 80% of India’s postal/ZIP codes with end-to-end pick-up and deliveries.

Customers can also add Maersk Customs Services for seamless customs clearance and track their cargo from anywhere, at any time.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Maersk doubles down on growth in Australia with Omnichannel Fulfilment

November 11, 2023 / WIL BALDWIN

A.P. Moller-Maersk AS (OTC: AMKBY) is strengthening its omnichannel-fulfilment capabilities in Australia, with the opening of seven new facilities across the country. As the integrated container and logistics company celebrates its 30th anniversary in Australia, plans are in place to grow its already extensive operations and land-side capabilities.

The seven new facilities are being delivered over the 12 months to Q1 2024 as part of Maersk’s global integrator strategy with clear opportunities identified to expand the regional logistics landscape. This will bring the company’s total number of sites in Australia to eight in total, serviced by 550 full-time employees. Four sites opened earlier this year and three more are coming online between now and Q1 2024. Two of these facilities were integrated into the Maersk network as part of its acquisition of LF Logistics.

Maersk boasts five gateway ports and owned warehouse services in Sydney, Melbourne and Brisbane, with additional co-owned warehouse services in Perth and Adelaide. Maersk’s addition of seven facilities in Australia brings its footprint from 15,900 sqm in Q1 2023 to 142,500 sqm by end of Q1 2024, adding a total of 126,600 sqm in 12 months.

Six of the seven new sites will be omnichannel facilities, harnessing a variety of channels to interact with customers to fulfil orders. Omnichannel capabilities provide Maersk with better levels of availability and service, reduced working capital and better efficiency. It allows for an improved focus on sustainability by utilising renewable energy sources such as solar panels, smart power management systems and low energy consumption equipment.

The recent opening of Maersk’s Derrimut facility in Melbourne harnesses progressive AI technology to automate current warehousing processes. The facility caters to booming e-commerce fulfilment needs, as well as offering logistics solutions for different industries, including Footwear and Apparel, Beauty and Wellness, Healthcare, and Luxury Fashion products across Australia.

As part of Maersk’s expansion in Australia, exclusive new offerings to customers include the Flex Hub service, which enables customers to reduce warehousing costs and reduce time to market by placing products closer to their end customer markets.

The Captain Peter for reefer containers service allows customers to see the temperature inside reefer containers carrying their produce, allowing them to change it as needed, giving customers more control of how their frozen or refrigerated goods are managed while in transit with Maersk.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Leonardo AW169 capabilities to grow with increased Gross Weight and 11 seat configuration

October 30, 2023 / WIL BALDWIN

Rome, Italy, October 30, 2023 – The Leonardo S.p.A. (OTC: FINMY) AW169 light intermediate twin engine helicopter’s operational capabilities and range of options will grow further with the launch of a 5,100 kg (11,243 lb) IGW kit and an 11-seater configuration fully compliant with the IOGP (International Association of Oil & Gas Producers) Report 690. Both will be made available for the aircraft version with skid landing gear.

Compared to the standard 4,800 kg (10582 lb) Maximum Take-off Weight, the extra 300 kg (661 lb) available with the 5,100 kg IGW kit allows the embarkation of three more passengers or the addition of fuel for approximately one hour of operations. Existing operators of the type’s version with skids will be able to retrofit the 5,100 kg IGW kit to enhance their aircraft’s capabilities.

As an additional option, the 11-seater configuration, fully compliant with the IOGP Report 690 (Offshore Helicopter Recommended Practices), will introduce a new modular fuel tank system and two additional Type IV emergency exits in the cabin, increasing the total number from four to six. The 11 seats configuration will be available for the skid-fitted version in combination with the 5,100 kg IGW kit. This solution will allow the type to satisfy even more demanding offshore transport requirements in terms of payload, range, and compliance with IOGP latest standards.

This configuration will allow a radius of action of up to 75 nm with 11 passengers, therefore offering capabilities typically achievable with types with a MTOW exceeding 5.5 tons (intermediate class) at a light intermediate class cost of operations as well as granting latest safety standards compared with legacy helicopters. It will also deliver greater sustainability versus ageing types in the relevant weight category thanks to a more efficient powerplant, advanced navigation, modern support and maintenance approach, among other solutions. The Certification of the IGW increase is expected in 2024 while the 11-seater configuration with new modular fuel tank is planned for certification in 2026.

These latest operational capabilities will add to the EASA (European Aviation Safety Agency) certifications of the skid undercarriage and unique IFR, single pilot, Advanced Search and Rescue (SAR) Modes, both achieved in late 2022. With the skid configuration certification, the AW169 became the only modern CS29-certified aircraft able to offer all undercarriage solutions, further demonstrating the versatility by design of the type. The AW169 is also the only helicopter in its weight category that features Advanced SAR Modes. The performance increase packages previously developed had already enhanced engine performance and capabilities, transmission ratings and available payload through engine software updates and aircraft aerodynamics modifications, making the type the helicopter with the best power-to-weight ratio in its class.

Forward-Looking Statements

Maersk launches rail offering from Barcelona, Spain to Southern France

October 8, 2023 / WIL BALDWIN

Barcelona, Spain – AP Moeller-Maersk AS (OTC: AMKBY) is launching a new rail product from the Port of Barcelona to Southern France especially designed to cut transit times of ocean cargo destined to the areas Toulouse, Bordeaux and Lyon by using Barcelona as an alternative gateway. Starting early November there will be three weekly direct block trains between Barcelona and Toulouse as well as one weekly connection between Barcelona and Lyon. Via Toulouse the solution also connects cargo to Bordeaux seamlessly by using a partner network. Furthermore, it is intended to extend the connectivity on the Spanish side by rail to the areas of Tarragona and Zaragoza.

This new offering can shorten transit times for import and export cargo in the areas Toulouse, Bordeaux and Lyon by up to 12 days (7 days on average) compared to traditional routings via French or North European ports. Thanks to shorter transport distances and the utilisation of electrified trains it can also be a more environmentally friendly routing. The block trains can also be booked for intra-continental cargo between Spain and France.

Maersk is operating this new end to end service via its own company APM Spain Railways and cooperates for the trains with the partners Captrain and Naviland.

Thanks to brand new interoperable locomotives, the block trains neither have to stop to change the locomotive or replace wheel-sets at the Spanish-French border for seamless operations and best-in-class reliability.

Maersk & Kodiak Robotics launch commercial autonomous trucking lane between Houston and Oklahoma City

October 6, 2023 / WIL BALDWIN

Florham Park, New Jersey/Mountain View, California — A.P. Moller – Maersk AS (OTC: AMKBY) and Kodiak Robotics, Inc., have launched the first commercial autonomous trucking lane between Houston and Oklahoma City. The freight lane marks an expansion of the collaboration between Kodiak and Maersk, which began with their first autonomous freight deliveries together in November 2022 as part of Maersk’s Global Innovation Center Program. Kodiak has been delivering eight loads per week, with a safety driver behind the wheel, for Maersk customers since August.

Kodiak and Maersk are completing four round trips per week on a 24-hour-a-day, four-day-a-week basis between a Houston facility, where consumer products are loaded onto 53-foot trailers, to a distribution center in Oklahoma City. Operational learnings gained from the activity are captured and documented as part of the Kodiak Partner Deployment Program, which is designed to help companies learn how Kodiak’s self-driving trucks can become an integral part of their overall logistics strategy and offerings.

Autonomous trucking solutions have the potential to address long-term challenges faced by the trucking industry. According to the American Trucking Association, the trucking industry faces a shortage of roughly 78,000 drivers. The ATA estimates that, based on current driver demographic trends, as well as projected growth in freight demand, the shortage could swell to more than 160,000 over the next decade.

Safety continues to be a perennial challenge for the trucking industry as well. U.S. National Highway Traffic Safety Administration (NHTSA) research also estimates that 94% of crashes occur due to human error. For Kodiak, safety and performance are foundational to its autonomous trucking solution. Each vehicle is equipped with 18 different sensors, including cameras, radar, and lidar, that provide the platform with a 360-degree view around the truck. Every tenth of a second, the truck evaluates the performance of more than 1,000 safety-critical processes and components in both the self-driving stack and the underlying truck platform. The trucks learn in parallel, with system upgrades shared to the entire fleet simultaneously, and are not subject to environmental distractions.

Nidec and Embraer receive approval for joint venture to develop Electric Propulsion System

October 5, 2023 / WIL BALDWIN

Kyoto, Japan, October 6, 2023 – Japan’s Nidec Corporation (OTC: NJDCY) and Brazil’s Embraer (NYSE: ERJ) welcome the unconditional approval from all necessary regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC. The transaction combines the complementary synergies and distinct areas of expertise of two world-class engineering conglomerates to develop Electric Propulsion Systems (EPS) for the aerospace sector.

Vincent Braley, chief of staff for Nidec’s Motion and Drives business in the United States, has been appointed the CEO of Nidec Aerospace with immediate effect. Braley brings broad experience in business development and management to his new role to lead the joint venture’s future growth.

Unveiled at the Paris Air Show in June, the business combination aims to unlock new opportunities by providing an agnostic portfolio of products and services worldwide, driven initially by the growth of the Urban Air Mobility (UAM) industry. The UAM market is emerging and could create a USD 1.5 trillion market by 2040, according to Morgan Stanley Research.

LATAM receives first A321neo aircraft & orders 13 more

October 2, 2023 / WIL BALDWIN

Hamburg, Germany, October 2, 2023 – LATAM Airlines (OTC: LTMAY) has taken delivery of its first A321neo leased from AerCap Holdings NV (NYSE: AER) and placed an order for 13 additional A321neo aircraft to further expand its route network and drive its regional growth. This is the first delivery of a committed backlog of 76 A321neo aircraft. In total, LATAM has 111 A320 Family aircraft to be delivered.

The newly delivered A321neo for LATAM can seat up to 224 passengers and feature Airbus’ Airspace XL bins in the cabin. The larger bins provide a 40% increase in storage space and facilitates 60% more carry-on bags, allowing a more relaxed boarding experience for passengers and cabin crews. The newly delivered A321neo flew to its destination with 49% Sustainable Aviation Fuel (SAF).

LATAM Airlines Group and its affiliates are the main group of airlines in Latin America, with presence in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations throughout Europe, Oceania, the United States and the Caribbean. Today, LATAM operates 240 Airbus aircraft and is the largest Airbus operator in Latin America. In July this year, LATAM took delivery of a new Airbus A320neo, the first delivery using 30% SAF.

Cathay Group orders 32 A320neo Family aircraft

September 29, 2023 / WIL BALDWIN

Toulouse, France, September 29, 2023 – Hong Kong’s Cathay Pacific Airways Ltd ADR (OTC: CPCAY) has announced the purchase of an additional 32 Airbus Group NV (OTC: EADSY) A320neo Family aircraft as it continues to invest in expanding and modernising its fleet. The agreement doubles the Cathay Group’s total orders for the A320neo Family to 64, of which 13 have already been delivered.

The 32 additional aircraft will comprise both the A321neo and A320neo which will join the fleets of Cathay Pacific and HK Express.They will principally serve destinations in the Chinese Mainland and elsewhere in Asia.

The A320neo Family incorporates the very latest technologies including new generation engines, Sharklets and aerodynamics, which together deliver at least 20 percent lower fuel burn and CO2 emission savings. With more than 9,700 orders from over 130 customers, the A320neo Family is the world’s most popular single aisle aircraft.

Qantas Group provides market update

September 24, 2023 / WIL BALDWIN

September 25, 2023, Qantas Airways Ltd ADR (OTC-QABSY) – The Qantas Group provides the following update to inform the market of a material increase to investment in customer improvements, continued strength in travel demand and the impact of elevated fuel prices.

CUSTOMER IMPROVEMENTS

The Group will invest a further $80 million in customer improvements across FY24 in addition to the $150 million previously budgeted, which will be funded from profits.

This additional investment is aimed at addressing a number of customer ‘pain points’ through improvements such as better contact centre resourcing and training, an increase in the number seats that can be redeemed with Frequent Flyer points, more generous recovery support when operational issues arise, a review of longstanding policies for fairness and improvements to the quality of inflight catering.

Qantas is also working to accelerate some initiatives already underway, such as the re-platforming of the Qantas app. More detail on these actions will be shared in coming weeks.

DEMAND LEVELS

Overall travel demand remains strong, with trading conditions in the first quarter of FY24 similar to the last quarter of FY23.

Qantas and Jetstar expect to carry more than 4 million passengers over the September/October school holidays and football finals period on almost 35,000 domestic and international services. This compares with around 3.7 million passengers on approximately 28,000 services over the same four week period last year.

Latest survey data shows that travel remains a top spending priority among Qantas Frequent Flyers over the next six months, well ahead of entertainment, renovations and homewares[1]. The Group greatly appreciates the continued support from customers choosing Qantas and Jetstar.

FUEL, FX AND FARES

Fuel prices have increased by around 30 per cent since May 2023, including a 10 per cent spike since August. This is driven by a combination of higher oil prices, higher refiner margins and a lower Australian dollar.

If sustained, this is expected to see the Group’s 1H24 fuel bill increase by approximately $200 million to $2.8 billion after hedging[2]. A further $50 million impact is expected due to non-fuel related foreign exchange changes.

The Group will continue to absorb these higher costs, but will monitor fuel prices in the weeks ahead and, if current levels are sustained, will look to adjust its settings. Any changes would look to balance the recovery of higher costs with the importance of affordable travel in an environment where fares are already elevated.

CAPACITY AND NETWORK UPDATE

New aircraft deliveries and wet-leasing arrangements will help Qantas and Jetstar boost international capacity by 12 percentage points by the end of the calendar year – an increase of almost 50 additional flights a week.

This includes Qantas resuming its Sydney-Shanghai services and starting two new routes, Brisbane-Wellington and Brisbane-Honiara, as well as a new Jetstar service from Brisbane to Tokyo.

Both international and domestic capacity for 1H24 is materially unchanged from estimates given in late August 2023.

FINANCIAL FRAMEWORK

The Group remains in a very strong financial position, including its debt levels and continued strong revenue intakes.

The on-market share buyback of up to $500 million announced on 24 August 2023 is now 10 per cent completed. Shareholder approval will be sought at Qantas’ upcoming AGM to increase the headroom for further share buybacks that the Board may choose to do in future in line with the Financial Framework.

[1] QFF sentiment tracker,n=2,019.Data collected between 1 August 2023 and 31 August 2023. Sample of QFF members from Red Planet panel. Based on respondents’ intended changes to upcoming spending across different categories.

[2] Assumes 1H24 underlying into-plane market reference price of approximately A$191 per barrel.

Rolls-Royce makes Halunder Jet safer and more efficient thanks to NautIQ

September 20, 2023 / WIL BALDWIN

Ensuring engine reliability at sea

To keep a sea-going vessel like the Halunder Jet running reliably and sustainably, the crew need access to a host of relevant data on its condition. That’s where the Rolls-Royce Holdings PLC (OTC: RYCEY) mtu NautIQ Foresight can help.

In the North Sea, the crew onboard the Halunder Jet – a high-speed catamaran operated by ferry company FRS – is transporting passengers between Hamburg, Cuxhaven and Heligoland harbour in Germany.

With just four hours on Heligoland island to visit the ‘Tall Anna’ sea-stack, watch guillemots and gannets, or engage in some duty-free shopping, visitors want to make the most of every minute secure in the knowledge that they’ll be back on the mainland in time to catch their onward connections.

Uptime and reliability, therefore, are top priorities for the Halunder Jet’s operators, closely followed by cutting fuel consumption – an increasingly important consideration amid rising fuel prices and growing environmental awareness.

Ensuring engine reliability at sea

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