joint venture

Volvo Group surges to Q2 profit record amid signs of cooldown

Volvo Group reported record second-quarter profits with strong sales offset by one-time charges for getting out of the bus business in the U.S. and settling price-fixing allegations in Europe.

The strong results came despite lower truck orders and declining market share. Still, Volvo increased industrywide estimates for heavy truck sales in Europe and North America. It now expects 330,000 in each market, up from 320,000, based on larger fleets continuing to replace older vehicles.

Volvo’s Q2 net...

https://www.freightwaves.com/news/volvo-group-surges-to-q2-profit-record-amid-signs-of-cooldown

PIS Secures Collaboration Agreements With Global Partners

Credit: Venti Views/Unsplash

PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners, says an article published on Xinde marinenews.

Inauguration of the PIS

The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022.

PIS signed a Heads of Agreement (HoA) with BGN International DMCC (BGN), and a Memorandum of Collaboration (MoC) with Elite Tankship Pte Ltd (Elite Tankship).

Agreement addresses

The...

https://mfame.guru/pis-secures-collaboration-agreements-with-global-partners/

Delta, Latam joint venture to benefit cargo shippers

Tail ends of Delta Air Lines and Latam Airlines facing each other on tarmac, with blue sky and white clouds.

The joint venture between Delta Air Lines and Latam Group recently approved by the U.S. Department of Transportation is expected to benefit cargo shippers through greater route offerings, efficiency and capacity.

The green light from regulators allows the companies to implement the deal initially struck in late 2019 and coordinate relevant operations. 

The DOT’s Sept. 30 order said granting antitrust immunity to Delta and Latam, the largest carrier in Latin America, would benefit the public...

https://www.freightwaves.com/news/delta-latam-joint-venture-to-benefit-cargo-shippers

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