Gulftainer eyes Russian port
GULFTAINER Company, UAE’s second-largest port operator, is close to acquiring a 25 per cent stake in Russia’s Baltic port of Ust-Luga, Reuters said citing a Kommersant Business daily report.

The port will be able to handle and store 4.6 million tonnes of cargo and 450,000 cars once construction is completed on a capacity expansion programme.

Last year Gulftainer set up a $500 million fund with Russian partners as it was positioning itself for acquisitions in Russia, the Gulf and Asia.

Gulftainer is a subsidiary of the Sharjah-based Crescent group of companies and the largest private port and logistics operator in the Middle East.

Etihad’s new China cargo route
ETIHAD Cargo has inaugurated a new direct weekly freighter operation from Abu Dhabi to the southern Chinese city of Guangzhou.

The new cargo service operates every Thursday using an Airbus A330-200F freighter with capacity of 68 tonnes.

Etihad Cargo already operates nine weekly freighter services between Abu Dhabi and the Chinese cities of Shanghai and Beijing. 

Oman deal for Hill
OMAN has awarded US firm Hill International a two-year contract worth RO41.8 million ($108.5 million) to supervise the expansion of Muscat’s international airport, a transport ministry statement said.

Hill International will replace Danish consulting group COWI after the ministry of transport opted not to renew a contract signed in 2008 to supervise the project.

Oman is expanding the airport’s terminal building and the airfield in a project that has been dogged by delays.

UPS drops bid for TNT
UNITED Parcel Service (UPS) said it would drop its 5.2 billion euro ($7 billion) bid for Dutch delivery firm TNT Express on the expectation of an EU veto, a sharp blow that halved the value of TNT’s shares within minutes.

US-based UPS, the world’s No 1 package delivery company, had sought to buy the Dutch firm to gain access to its European network and business in fast-growing Asia and Latin America.