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As we chase M&A rumours - AD Ports' brief listing nears its end

Key takeaway: Abu Dhabi's sovereign owner is offering AED6.25 a share for the nearly 24.6% of AD Ports Group it does not already own. The offer has board support and may attract significant tenders, but it remains conditional; one important question is what L'IMAD does with the group through ADQ if it obtains fuller control. Another is what Noatum will buy next... In case you missed it: Abu Dhabi Developmental Holding Company (ADQ) - a wholly owned subsidiary of ...

Analysis: Time to think 'constructively' about Cosco

Cosco Shipping Holdings has just delivered the kind of second-quarter rebound that should reassure container-shipping investors. As disclosed at the end of last week, revenue rose 17.6% year on year to Rmb60.1bn, while profit attributable to equity holders rose 29.1% to Rmb7.5bn. Yet the stronger quarter sits awkwardly beside the first-half picture: attributable profit was still down 23.6% year on year, to Rmb13.4bn. The second quarter is the more informative signal: management's own commentary and the underlying capacity backdrop ...

Air cargo wins reprieve as Singapore delays SAF levy

Airfreight stakeholders have responded positively to the decision of Singapore's government to delay the implementation of a new green levy for cargo as the industry wrestles with the practicalities of meeting its environmental pledges. In a statement issued this morning (3 September) the Civil Aviation Authority of Singapore said it will "defer the implementation of the levy for air cargo shipments by one year to apply to services sold from 1 October 2027 for flights departing Singapore from 1 January 2028". Director-general of CAAS, Han Kok Juan, added: "CAAS has worked closely with airlines and other global industry partners to set up a robust regime for levy collection, procurement and environmental attributes management. "In doing so, CAAS seeks to lay the foundation for Singapore to serve as a trusted hub for SAF-related economic activities in the region," Mr Han added, with the aviation authority noting that it was still rolling out its planned levy for passenger services. Explaining its reasoning, CAAS noted that compared with passenger operations, cargo services involve a broader range of stakeholders - notably carriers, express operators, forwarders, and shippers - all operating under "varying commercial arrangements". Following industry engagement, it agreed rolling out the levy from the start of next month for flights departing 1 January 2027 would prove problematic and as such said that it had agreed "to work with industry to develop and implement a robust SAF Levy collection mechanism". Unsurprisingly, industry has responded positively, stakeholders telling The Loadstar a delay was necessary, with chair of Singaporean air cargo agents association SAAA@Singapore, Gabriel Lam noting a "one size fits all" approach for passenger and cargo did not make sense. Mr Lam told local outlets that moving ahead without adapting the system for collecting levies for the more diffuse make-up of the airfreight sector would lead to inconsistencies leading to unsustainable cost price spikes. He added that the additional lead time would allow companies to not only better plan for the levy's implementation but to make clear to their customers what the additional costs would be and when they would be due, offering a "more measured and sustainable" transition. A spokesperson for Kuehne+Nagel responded to a request for comment from The Loadstar by saying that the company "supports mandates that help drive greater adoption of SAF and provide producers with the confidence to invest in additional production capacity". While not responding directly to questions about the decision of the Singaporean regulator to delay its own levy's introduction, the spokesperson noted that these mandates were being introduced "at different speeds and through different mechanisms". Another source working in the field told The Loadstar that they would not comment publicly - "and I am not surprised others haven't" - because they said the issue of SAF and levies "is, to some extent, a contentious one, but they should be supported".