SIA Cargo and Port of Singapore voted best in Asia
SINGAPORE—Singapore Airlines (SIA) Cargo was awarded Best Air Cargo Carrier in Asia at the 2017 Asia Freight, Logistics and Supply Chain Awards on Thursday (June 29), organised by freight and logistics publication Asia Cargo News.
SINGAPORE—Singapore Airlines (SIA) Cargo was awarded Best Air Cargo Carrier in Asia at the 2017 Asia Freight, Logistics and Supply Chain Awards on Thursday (June 29), organised by freight and logistics publication Asia Cargo News.
The awards ceremony was held at the Marina Bay Cruise Centre.
SIA Cargo is a wholly-owned subsidiary of Singapore Airlines. Last month, the airline group announced that SIA Cargo would be reintegrated as a division within the SIA group following an unexpected fourth quarter net loss of S$138 million – its first loss in five years. SIA Cargo had been hived off as a separate company within the SIA group in July 2001.
In a statement issued on May 19, SIA said the airfreight market has undergone “structural change” in recent years and “SIA Cargo’s freighter fleet has been ‘right-sized’ in recent years to the current seven aircraft while the proportion of revenue from passenger aircraft ‘bellyhold’ capacity has increased significantly.”
Despite the smaller freighter fleet, SIA Cargo’s overall capacity, including that from passenger aircraft, still grew at a range of 4 to 5 per cent in the past two financial years, said the airline group.
Separately, the Port of Singapore was named Best Seaport in Asia for the 29th time, beating Hong Kong and Shanghai for the top honours at the event.
Despite challenging conditions, Singapore retained its position as the world’s busiest container transhipment hub in 2016, said Mr Andrew Tan, chief executive of Maritime and Port Authority (MPA) of Singapore. “MPA will continue to work closely with all our stakeholders to strengthen our competitiveness as a premier global hub port and international maritime centre,” he said.