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Vol. XIV No. 32
Friday August 11 - August 17, 2006

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Updated every Friday
by Saichon Paewsoongnern

 

BUSINESS 
HEADLINES [click on headline to view story]: 

Emirates signs for 10 Boeing 747-8 freighters worth US$3.3 billion

Thailand’s logistics capability gets a boost


Emirates signs for 10 Boeing 747-8 freighters worth US$3.3 billion

New 747-8Fs to boost existing freighter fleet and support growth plans

Emirates, one of the world’s fastest growing international airlines, recently signed a Heads of Agreement for 10 of Boeing’s new 747-8F aircraft, to be powered by General Electric’s GEnx jet engines, in a deal worth US$ 3.3 billion.

The new Boeing 747-8Fs worth US$ 3.3 billion will be the latest acquisitions to Emirates ever-expanding fleet of aircraft.

The Heads of Agreement was signed July 29 at the Farnborough Airshow in the United Kingdom by HH Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline and Group, and Alan Mulally, Boeing Commercial Airplanes President and Chief Executive Officer.
The engine component of this deal is valued at more than US$600 million, and Sheikh Ahmed and GE Aviation’s President and CEO Scott Donnelly, also signed a Letter of Intent for 45 GEnx jet engines to power the new aircraft ordered.
The 10 747-8F aircraft, scheduled for delivery from 2010, will support Emirates’ long-term growth plans by providing additional capacity and operational flexibility for its air cargo services. Emirates currently operates nine wide-bodied Boeing 747Fs and Airbus A310Fs, and also has eight 777Fs on its order books.
Sheikh Ahmed said: “Worldwide air cargo traffic is projected to grow by over six percent annually for the next two decades, tripling over current traffic levels.
“The 747-8 freighters that we are ordering will put Emirates in a strong position to tap into the growth of cargo traffic and reinforce Dubai’s standing as a growing international hub for air cargo and logistics. This acquisition is an important building block in our long-term growth plans, and will help Emirates SkyCargo reinforce its position in the top league of leading cargo carriers.”
The range and economics of the new 747-8Fs will provide Emirates SkyCargo with the flexibility to deploy the aircraft on a variety of routes within a range of up to 4,475 nautical miles. From Dubai’s geo-centric location, this means the airline could potentially operate non-stop air cargo services, flying with a full load, to the entire African continent, Europe, Middle East and most of Asia.
Dubai-based Emirates is one of the world’s most successful and profitable international airlines. It currently operates a fleet of 94 wide-bodied aircraft to over 80 destinations around the globe. Over the past decade, Emirates has been recording double-digit growth annually, and it currently receives an average of one new aircraft per month.
With the implementation of this Heads of Agreement for 747-8Fs, Emirates will have more than 100 wide-bodied jets pending delivery, worth approximately US$30 billion.


Thailand’s logistics capability gets a boost

TICON Logistics Park Co. Ltd. (TLP), a subsidiary of TICON Industrial has completed phase 1 of the Laem Chabang Logistics Center, which is now ready for occupation.
Manop Charoenkajonkul, General Manager of TLP said: “There is a strong demand for rental space in specialist logistics parks, not only from the logistic companies but also from manufacturing companies. We have identified the areas of strong demand, and it is on the Eastern Seaboard and near the new airport.
“The Laem Chabang Logistics Center is the first of out logistics centers to become operational. It is strategically located at the junction of Route 7 and the Laem Chabang Road, 9km from Laem Chabang Port.”
Phase1 of the Laem Chabang Center comprises 4 logistics warehouse units, each of 5,310sqm, including 504sqm of ground floor and mezzanine office accommodation, which are now available for lease, individually or in multiple units. The specification includes10m clear height, 3 tons per sqm floor loading capacity, roof insulation and sprinklers. Each unit will have 6 loading bays with dock levelers.
Phase 2, to be completed in 2007, will comprise two further units of 5,310sqm.
“This is the first logistics space to be completed by TLP, we are also developing the 405 rai TICON Logistics Park at Bangna-Trad, Km 39, where the first buildings will be available from the end of this year.” Added Manop. “The 250,000sqm logistics park will serve as a warehousing and distribution center with short-distance access to Thailand’s new Suvarnabhumi Airport and its main deep sea port at Laem Chabang. And we plan to add more developments in line with market demand.”



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