An Air New Zealand Ltd. airplane arrives at Sydney’s Kingsford Smith Airport in Sydney, Australia, in this file photo. Air New Zealand, that nation’s biggest airline, has a positive credit-rating outlook because of its dominant domestic-market position and its relatively new fleet, according to Moody’s Investors Service. It is also planning to go "green" by meeting at least 10 percent of its yearly fuel bill with plant-based alternatives. --Bloomberg

WELLINGTON—Air New Zealand Ltd., the nation’s biggest airline, plans to meet at least 10 percent of its annual fuel bill with crop-based alternatives by 2013.

The company will test fuel made from the jatropha plant in the fourth quarter in a joint trial with Boeing Co. and Rolls Royce Group Plc., chief executive officer Rob Fyfe said in a statement e-mailed to Bloomberg News. Development of alternative fuels is accelerating and the company expects to be using at least 1 million barrels of it a year by 2013, Fyfe said.

Air New Zealand promotes the country’s clean environmental image to fill international services, which account for about two-thirds of its revenue. It is buying fuel-efficient jetliners to cut emissions and fuel costs and earlier this year offered customers carbon credits to offset pollution from their travel.

Air New Zealand rose 2 cents, or 1.8 percent, to NZ$1.16 at the 5 p.m. market close Thursday in Wellington.

Any alternative fuels the airline adopts must be cheaper than jet fuel, technically as good, environmentally sustainable and must not compete with food crops, Fyfe said.

Airlines, engine makers and aircraft builders are working hard to deliver the new fuels in commercial quantities, and a “step change” may occur in the industry sooner than many people think, he said. (Bloomberg)

Aone completes acquisition of ScanAsia Overseas

ABOITIZ One Inc. (Aone), also known as 2GO Express, the logistics arm of Aboitiz Transport Systems Corp., has completed the acquisition of ScanAsia Overseas Inc. (ScanAsia).

DHL Express Philippines will continue to operate from the Subic Bay Freeport Zone, despite the pullout of rivals United Parcel Service Inc. (UPS) and Federal Express Corp. (FedEx) from the former US military hub in Asia.

TO recycle parts and other materials from old ships that may be used to build new ones, the Maritime Industry Authority (Marina) plans to build three ship-breaking facilities around the country.

WELLINGTON—Air New Zealand Ltd., the nation’s biggest airline, plans to meet at least 10 percent of its annual fuel bill with crop-based alternatives by 2013.

HONG KONG—Hyundai Heavy Industries Co., the world’s largest shipbuilder, said it received orders for 22 oil tankers valued at $2.4 billion from Europe this week as global demand increases for fuel.

TOKYO—Mitsui O.S.K. Lines Ltd., Japan’s second-largest shipping line by sales, rose in Tokyo trading after Mizuho Securities Co. raised its rating on the stock as rates for transporting iron ore and other commodities increased.