Cargo Breaking News

Indian logistics sector set to grow by 10%: ICRA

Even though the logistics sector in India projected moderate growth during H2 FY2019 and may remain weak during Q1 FY2020, it is expected to pick up and move upwards over the medium term, states ICRA. According to Sruthi Thomas, Senior Analyst, ICRA Ratings, “Our analysis of financial performance of key-listed logistics companies in India indicate that there was a moderation in the growth momentum during the last quarter of FY2019, and the same is likely to continue into Q1 FY2020 as well. Although ICRA expects the growth to remain weak during Q1 FY2020, given the sequential softening of freight rates and the subdued economic activity, it is expected to revive subsequently. We maintain a stable outlook for the Indian logistics industry, expecting it to grow at 8-10 per cent over the medium term.” The slowdown in demand has been especially pronounced in certain segments like automobiles, e-commerce and air express cargo.

Read More »

Two logistics parks near Chennai unveiled by IndoSpace

With a total area of over 41 acres, IndoSpace announced the launch of parks in Mevalurkuppam and Koodapakkam. The facility is situated near national highway NH-48, which runs from Delhi to Chennai, providing easy access to nearby industrial hubs. The company’s Sugal industrial park, located in the Tiruvallur district in the state of Tamil Nadu Koodapakkam, is spread across 26 acres. It is positioned on State Highway 50, and closer to NH-332 which runs across Tamil Nadu and Puducherry giving road connectivity within state. Both the parks come under Irungattukottai micro-market which has a large concentration of medium and small-scale enterprises supporting the large-scale auto and auto-ancillary units

Read More »

Mangoes shipped from Mumbai to London in 3 weeks by Maersk

Maersk Line has completed its first successful shipment of mangoes from Nhava Sheva in Mumbai, to Felixstowe, London. Bombay Exports shipped 21 tonnes of Kesar and Badami mangoes within a period of three weeks through Maersk’s reefer containers that use advance Remote Container Management (RCM) technology. Controlled Atmosphere (CA) is one of the offerings which helps in extending the shelf life of perishable fruits and vegetables by slowing down their ripening process. With this innovative offering, perishable goods, which otherwise required airfreight solutions, can now be shipped. Steve Felder, Managing Director, Maersk South Asia, said, “With the difficulties in airfreight in the current scenario, approximately 200 metric tonnes of air exports of fruits and other perishables are being impacted every week, leading to a huge loss of produce. Furthermore, a strong demand for mangoes in European markets, provided us with a chance to leverage our superior technology in preserving refrigerated (reefer) cargo.

Read More »

India’s inland waterway used to ship 1000 MT cargo from Bhutan to Bangladesh

Mansukh Mandaviya, Minister of State for Shipping (Independent Charge) and Chemical & Fertilizers, digitally flagged-off a ship of the Inland Waterways Authority of India (IWAI), carrying stone from Bhutan to be delivered in Bangladesh. Till now, Bhutan has been exporting significant quantity of stone aggregates to Bangladesh through the land route. The ship is carrying 1000 MT of stones – 70 trucks would be required to transport the same cargo by road. Mandaviya said, “The move will be beneficial to India as well as Bhutan and Bangladesh and strengthen relations between the neighbouring countries. He said transport of cargo through this route will cut short travel time by 8-10 days and reduce transportation cost by 30 per cent. It will also be a more environment friendly mode of transport.”

Read More »

Cargo transportation on waterways rose from 55.2 mt in 2016 to 72.31 mt in 2018-19

“111 National Waterways are being developed in phased manner for the purpose of shipping and navigation, informed Mansukh Mandaviya, Minister of State for Shipping (I/C) and Chemical & Fertilizers in a written reply to a question in Lok Sabha. The Minister informed that cargo transportation on waterways rose to 72.31 million tonnes (mt) in the year 2018-19, from 55.20 mt in 2016-17 and 55.03 mt in 2017-18. To increase the use of inland waterways and coastal shipping for greater cargo shipment, initiatives taken by the government include providing assured depth of water in the channels, navigation aids like GPS and River Information System, terminals at regular intervals, facilities for mechanized handling of cargo handling etc.

Read More »

CONCOR & BHEL to develop logistics terminal in Haridwar

Container Corporation of India (CONCOR) and Bharat Heavy Electricals Limited (BHEL) have entered into an agreement to set up a rail-based logistics terminal in Haridwar, Uttarakhand. This would be BHEL’s strategic entry into a new growth area as the terminal would soon be developed into a multi-modal logistics facility. The terminal would cater to the need of Exim and domestic trade of Haridwar. The facility would work as a Private Freight Terminal (PFT) which will facilitate the handling of railway wagon also. Moreover, the Haridwar plant is advantageously located near the upcoming Eastern and Western Dedicated Freight Corridors. BHELCON, a joint working group agreement has been signed with equal financial participation by CONCOR and BHEL.

Read More »

Delhi airport gets dedicated cargo facility

Delhi International airport launched a dedicated facility exclusively for cargo handling, called, Transshipment Excellence Centre. The facility, spread over 6,500 square metres, can handle about 20,000 tonnes of cargo a month. The facility can process cargo in a span of 45 minutes to six hours, depending on the type and volume of cargo. The international transshipment cargo is sent from airlines to the centre where it is segregated and sent for onward despatch. The facility will allow exporters and shippers in the region to bring their cargo to Delhi and move it globally.

Read More »

Budget prepares the roadmap for a new India based on inclusive growth: FIEO

Commenting on the Union Budget, Sharad Kumar Saraf, President, FIEO said, “The budget addresses some of the basic challenges faced by manufacturing as well as exports including flow of credit, infrastructure bottlenecks, labour laws, skilling, etc. The export credit declined by 22 per cent as on December 31, 2018 compared to the same period in 2017. Rs.70,000 crore allocated to PSU banks will ease the flow of credit. The interest subvention of 2 per cent given to MSME as well as payment platform for bill filing for MSME will help in flow of credit at competitive cost. The investment of Rs 100 lakh crore in infrastructure in next five years through Bharatmala, Sagarmala, Jal Marg Vikas Project will help in improving logistics, reducing transportation cost and increasing competitiveness.” “The PMMSY for the robust fisheries management framework will give a push to marine exports from the country in which India has emerged as the largest exporter though huge untapped potential still exists. The support given to GI products and artisans to showcase in global markets will provide much needed exposure to them paving the way for further exports. Focus on clusters in bamboo, honey and khadi will not only create huge employment opportunity but will also give a push to their exports,” he adds.

Read More »

It is a budget with a 10-year vision and a 5-year target: ACAAI

TA Varghese, President, ACAAI, believes, “Liberalisation of FDI in aviation will facilitate the growth of this capital-intensive industry.” He continues, “Boost has been given to India Inc. in the budget. The plan to utilise Rs 70,000 crore for the recapitalisation of banks is likely to ease the credit crunch for business and industry. The proposal to invest Rs 100 lakh crore in infrastructure projects in the next five years and the plan to construct 1.25 lakh kilometres of rural roads will boost the movement of goods pan India. The Union Budget 2019-20 is a budget with a 10-year vision and a 5-year target.” The proposed-investment in infrastructure and digital economy as well as job creation in small and medium firms may generate much-needed jobs in these sectors. The first step towards achieving the objective of powering India to a $ 5 trillion economy by 2024 have been taken in this budget. Overall, this budget has sought to balance the needs of both ‘Bharat’ and ‘India’. It projects a ‘new India’ roadmap by placing great emphasis on uplifting rural India through various measures while also addressing the needs of urban India. The planned provision of access to electricity for every rural household by 2022, clean water to all rural households by 2024 and 1.9 crore houses to citizens in the next two years are steps in the right direction.

Read More »

Budget aims at reducing logistics cost with focus on multimodal: FFFAI

Believing the Budget 2019-20 as an ongoing task reiterating the commitments that the NDA Government has set in its vision document, S Ramakrishna, Chairman, FFFAI, says, “It is commendable the new Finance Minister presented a pragmatic Budget aiming to reach the US$ 5 trillion economy in the next few years, with required emphasis and focus on infrastructure, multimodal connectivity and logistics operation. Significantly, the government has decided to create and promote inland waterways and allied infrastructure to reduce logistics cost and boost greener environment.” It is heartening to note that after recently launched multimodal terminal at Varanasi, more similar terminals will be completed at Sahibganj and Haldia and a navigational lock will be created at Farakka by 2019-20 FY. We will be expecting more such terminals in North East India as well, like strengthening the existing terminal in Pandu (Guwahati) and new one in Jogighopa which is very strategic region from foreign trade’s perspective utilizing effective multimodal connectivity with special thrush on waterways. It would be very crucial to expedite international cargo movement to Bangladesh and beyond. Also, it is commendable the Finance Minister emphasized on resolving all litigations on fast track basis to facilitate trade and commerce. Commenting on the focus given by government to MSMEs, Ramakrishna, says, “Since predominantly we are from MSME sector, this funding would be a great boost for us.”

Read More »