CNA938 Rewind - All that glitters is… silver?
CNA938 Rewind
Gold has taken centre stage, outperforming many other major assets. But silver is also quietly carving out its own niche. From January 2023 to December 2024, silver has delivered a price return of 20.3 percent. Increasingly, silver is turning into a compelling asset that can shine in various market conditions. Andrea Heng and Hairianto Diman look at what's propping silver up and whether it will continue to gain traction with Gregor Gregersen, Founder of Silver Bullion.
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Straits Times
an hour ago
- Straits Times
Zoo animals, vaccines and more: Sats powers Paris air cargo hub at Charles de Gaulle
PARIS – Two lions and three golden monkeys passed through an air cargo facility at Charles de Gaulle Airport in Paris on their way to a zoo in central France earlier this year . Besides live animals, the facility also handles other types of specialised cargo, such as pharmaceuticals and perishables like meat and milk. The facility is owned by Sats, the Singapore-listed air cargo handling services provider, and operated by its subsidiary Worldwide Flight Services (WFS), which it acquired in 2023. Following the €1.3 billion (S$1.9 billion) acquisition, Sats became the world's largest air cargo handler. The combined Sats-WFS network operates over 215 stations across 27 countries, covering trade routes that account for more than half of global air cargo volume. Mr Laurent Bernard, vice-president of WFS in France, said on June 3 that the country handled 1.3 million tonnes of cargo in 2024, with 70 per cent coming from Charles de Gaulle Airport. On June 4, the media toured the Paris cargo facility for the first time. Mr Bernard said Sats' acquisition has helped WFS expand its network, giving it a long-term vision and ability to invest in its business. Previously, WFS was 'very Europe-centric', he said. The company also saw growth in the US, but it lacked a significant footprint in Asia . World Flight Services staff loading a cargo crate onto an aircraft at Charles de Gaulle airport in Paris on May 4. ST PHOTO: AZMI ATHNI With the acquisition, its reach is now truly global, strengthening its position to negotiate better deals with clients. 'When they are (negotiating) with us, they want a global deal. We can provide them the full package, and many stations (around the world), which is quite important,' Mr Bernard said. WFS was previously owned by a private equity firm whose focus was on 'making quick money in a short time', he said. Sats' acquisition has enabled the company to make investments in its business with a long-term perspective. For example, it is building a 20,000 sq m cargo facility in Lyon – about 460km south of Paris – that will include 7,000 sq m of temperature-controlled space. The building is expected to be ready by mid-2026. WFS has 120,000 sq m of warehouse space at Charles de Gaulle Airport , with roughly 20 per cent of this space dedicated to specialised cargo, Mr Bernard said. General cargo, which is still the company's main business, makes up the rest. Mr Laurent Bernard, vice-president of WFS in France, said Sats' acquisition has helped WFS expand its network, giving it a long-term vision and ability to invest in its business. ST PHOTO: AZMI ATHNI Outside Paris, WFS operates at 11 provincial airports across France, including those in Lille, Lyon, Marseille, Nantes, and Strasbourg. The media toured warehouses dedicated to three types of specialised cargo: e-commerce cargo , pharmaceuticals and shipments managed through freight forwarding. The e-commerce cargo is housed in a 5,000 sq m warehouse located less than 100m from the airside. This allows for fast and efficient cargo transfer, meeting the quick turnaround demands of airlines and freight forwarders aiming to make timely deliveries. E-commerce cargo is housed in a 5,000 sq m warehouse located less than 100m from the airside. ST PHOTO: AZMI ATHNI It takes about an hour to unload a full plane, and after checks on-site, the cargo is picked up as soon as two hours later. Most of the cargo arriving at the e-commerce warehouse is from China. The 2,400 sq m pharmaceutical warehouse is temperature-controlled, with one part of the site kept at 15 to 25 deg C and a smaller section at two to eight deg C. The warehouse handles vaccines, insulin and medical devices that have to be kept at a certain temperature. Workers loading pharmaceutical cargo onto a van at the World Flight Services cargo facility at Charles de Gaulle Airport in Paris. The facility is temperature-controlled, and handles shipments of vaccines and other medicines that are temperature-sensitive. ST PHOTO: AZMI ATHNI Another specialised cargo service is freight forwarding, or the coordination and organisation of the movement of shipments on behalf of a shipper. Freight forwarding companies that do not have their own warehouses – usually smaller players – rent space at the WFS facility to consolidate shipments before moving them to the final destinations. This is more economical than leasing their own spaces when cargo volume is low. The World Flight Services freight forwarding warehouse at Charles de Gaulle airport. ST PHOTO: AZMI ATHNI Besides their warehouse operations at Charles de Gaulle airport, WFS also runs an academy there to train workers in handling specialised cargo. In 2025, the centre aims to train 16,000 people in areas such as the handling of live animals, pharmaceuticals, dangerous goods like flammable liquids or materials, and perishable goods like meat and milk. Mr Bernard said Paris has the capacity to continue accepting passengers, and that it is 'crucial to have cargo linked to the (passenger) routes'. Having cargo on board a passenger plane could contribute 30 per cent of a route's profitability, he added. 'It's quite important – in parallel with passenger development – to continue to grow from the cargo side.' Meanwhile, Sats announced on June 3 three new product offerings designed to strengthen global air logistics resilience, in partnership with global transport and logistics company Kuehne + Nagel. One of the services is the expedited delivery of aircraft parts to Changi Airport during Aircraft-on-Ground (AOG) emergencies, where planes are grounded due to technical or mechanical issues. Sats said the solution leverages technology to track the response during an AOG emergency. This allows ground teams to anticipate the arrival of the spare parts and to prepare for repairs, enabling a quicker return to service. 'These disruptions can result in significant operational and financial impacts, making quick access to spare parts a high priority for the aviation industry,' said Sats and Kuehne + Nagel. The two partners also launched sea-air freight services at Sats' Los Angeles and Singapore hubs. This allows customers to transfer sea cargo onto air transport in the last leg of the journey, which could mitigate disruptions to customers' supply chains. To improve trucking and warehouse efficiency at Frankfurt Airport, the two partners have accelerated import cargo clearance there. This streamlining has reduced delays, allowing faster cargo pick-up and delivery by truck. Vanessa Paige Chelvan is a correspondent at The Straits Times. She writes about all things transport and pens the occasional commentary. Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
2 hours ago
- Business Times
DBS, UOB back 6.7 trillion rupiah loan facility for data centre campus in Batam's Nongsa Digital Park
[SINGAPORE] DBS and UOB have jointly provided a 6.7 trillion rupiah (S$530 million) loan facility to finance the development of a new data centre campus in Batam, Indonesia. The project is jointly developed by DayOne, a Singapore-based data centre developer and operator, and the Indonesia Investment Authority, the country's sovereign wealth fund. It will fund the development and operations of three data centres in Nongsa Digital Park in Batam, Indonesia. As the largest rupiah-denominated financing agreement secured for such a development, it is part of the drive to build South-east Asia's digital infrastructure, said DBS and UOB in a joint statement on Thursday (Jun 5). This comes as the region is experiencing ongoing digital transformation that is boosting demand for data centre computing power. Amit Sinha, group head of telecommunications, media and technology, Western multinational corporations and digital economy at DBS, called the move a 'strategic investment' into the future of South-east Asia's digital economy. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'Expanding the region's data centre capacity will accelerate the digital transformation of businesses within the region as they embrace solutions such as artificial intelligence (AI), cloud services and real-time processing,' he said. South-east Asia's data centre demand is set to triple from its capacity as at 2023 to 6.5 gigawatts (GW) by 2030, said the lenders, citing data from Boston Consulting Group. The region's continued digital transformation, growing regional connectivity and acceleration of AI adoption is fuelling this growing demand. As much as half of this demand is expected to be met by the Singapore-Johor-Batam corridor, a major hub for data traffic in South-east Asia, DBS and UOB said. The corridor's capacity is set to reach up to 3.3 GW by 2030. Data centre campus to facilitate 'next wave' of digital transformation The DayOne Nongsa Digital Park Data Centre Campus is 'designed to support the next wave of digital transformation', said Jamie Khoo, chief executive of DayOne. The campus located within Nongsa Digital Park will house Indonesia's 'most advanced AI-ready data centre', she added. Upon its completion by end-2025, it will have a combined IT load capacity of around 72 megawatts (MW). This will account for around 5 per cent of Indonesia's projected data centre capacity of 1.41 GW by 2029, said DBS and UOB. Nongsa Digital Park to support digital connectivity with Singapore The digital park in Batam aims to be a 'digital bridge' connecting Singapore and Indonesia's economies, they said. 'Strengthened digital connectivity between Indonesia and Singapore better positions both markets to capture growing regional demand for computing power,' DBS' Sinha added. Given Indonesia's ambition to become a regional digital hub, Harapman Kasan, wholesale banking director at UOB Indonesia, highlighted that Batam plays a 'pivotal role' in serving as a key gateway to Singapore. The digital park will allow Singapore companies to leverage Indonesia's infrastructure and digital talent pool as well as enable Indonesia to benefit from Singapore's technological advancement and investment flows, the banks added.
Independent Singapore
2 hours ago
- Independent Singapore
Will China order more Airbuses than India?
China is reported to be considering ordering hundreds of Airbuses as soon as next month. The question is, will it order even more Airbus than India? Bloomberg reports, quoting unnamed sources, that China could order as many 200 to 500 aircraft. The deal may be announced in July when European leaders visit Beijing for a summit marking the 50th anniversary of diplomatic relations between China and the European Union. French President Emmanuel Macron and German Chancellor Friedrich Merz are expected in Beijing — and the deal could benefit their countries, which are the two biggest Airbus shareholders. It could be President Xi Jinping's way of courting favour with the Europeans in the middle of a trade war with America. 'A high-profile deal with Airbus would allow Xi to send a message to Trump over trade,' says Bloomberg. There is no doubt it would be a significant and politically astute agreement. But would it be the biggest ever commercial aircraft deal? Not quite—not even if China orders 500 aircraft. IndiGo's record Airbus order That distinction still belongs to India's budget carrier IndiGo, which made history in 2023. See also China gets more aggressive towards US in South China Sea 'IndiGo, India's largest airline by market share, has placed a firm order for 500 A320 Family aircraft, setting the record for the biggest single purchase agreement in the history of commercial aviation,' Airbus announced in a press release on June 19, 2023, during the Paris Air Show. 'The latest agreement takes the total number of Airbus aircraft on order by IndiGo to 1,330, establishing its position as the world's biggest A320 Family customer.' The aircraft are scheduled for delivery between 2030 and 2035, IndiGo said in a statement issued the same day. IndiGo currently operates a fleet of over 400 aircraft, mostly Airbuses. With more than 2,200 daily flights and 126 destinations, including 37 abroad, it is the world's seventh largest airline by the number of daily departures. And its fleet is set to more than double in the next decade. The airline has over 900 Airbus aircraft yet to be delivered, according to an Airbus official quoted by The Times of India. See also AFP Fact Check: Novel coronavirus breeds global false claims Air India, India's other major airline, also has more than 300 Airbuses yet to be delivered, said the same official. He was in Delhi recently for the International Air Transport Association annual general meeting. The huge aircraft backlog of the two leading Indian carriers reflects the country's soaring demand for air travel. India is the world's third largest civil aviation market after America and China. Aircraft deliveries have fallen behind globally, notes the IATA 2025 annual review. 'Only 1,266 aircraft were delivered in 2024, a 8.1% drop from 2023.' Airbus sales increasing in China While lagging behind in deliveries, Airbus has steadily increased its sales to China, helped by a final assembly line in Tianjin for its popular A320 family aircraft, says Bloomberg. India has no such assembly line. Airbus has a final assembly line in Gujarat to manufacture the C295 military transport aircraft for the Indian Air Force. It has also partnered with Tata to establish a final assembly line in Karnataka to make the H125 helicopter. But Airbus has no final assembly line in India for commercial aircraft production. See also China slams 'senseless' US move at UN over Hong Kong Airbus is prospering in China at the expense of its US rival, Boeing. Business in China is becoming increasingly difficult for US plane maker owing to President Donald Trump's trade war with Beijing. The close links between politics and business were manifest during Trump's visit to the Middle East, where he landed major deals, including an order from Qatar Airways for as many as 210 Boeing jets. The Qatar deal contrasts with the slump in China. Airbus now claims to dominate the market there. It says: 'To date, there are more than 2,200 Airbus aircraft flying with the Chinese mainland airlines including passenger aircraft and freighters in China's mainland, representing 55% of the market share.' A massive Chinese order would reinforce Airbus' dominant position in the country. But for now, the title for the biggest single aircraft deal ever remains firmly in India's hands. Featured image from Wikimedia Commons (for illustration purposes only)
