Kuehne+Nagel (K+N) is expanding its perishables network with the acquisition of Norwegian freight forwarder Salmosped, which specialises in the transportation of seafood. Norway is one of the largest fish and aquaculture producers in the world and its exports have remained strong throughout the pandemic. K+N said that over the years, it has developed a global perishables logistics network comprised of more than 70 stations to provide its end-consumers with an optimal product shelf life and maximum freshness. Dennis Verkooy, senior vice president of global perishables, and head of carrier management air logistics, at K+N, commented: “Perishables logistics is a strong growth driver for Kuehne+Nagel. “While we have been present in the seafood business in Norway for years, today’s acquisition strengthens our footprint in air freight exports from this important seafood producing country. “We are looking forward to enlarging our Norwegian team with Salmosped’s specialists.”

The Central Board of Indirect Taxes and Customs (CBIC) issued the measures for expediting Customs clearances so as to improve in Faceless Assessment. The CBIC has recently comprehensively reviewed the implementation of Faceless Assessment and deliberated on the further measures required for expediting the pace of assessment and Customs clearance of imported goods. Board finds that by and large the objectives of Faceless Assessment in terms of expeditious assessments, anonymity in assessments, and uniformity in assessments have been met. However, Board observes that there is even now scope for improvement which would potentially lead to a substantial increase in the pace of assessments and Customs clearance, while further enhancing the uniformity in assessments and anonymity with a view to reducing interface with the trade.

Ocean carriers could be in line for profits of $100bn this year and look assured of continued medium term profitability as capacity remains an issue globally in a market described as “crazy”. The Loadstar reports a substantial upgrade of Drewry’s quarterly Container Forecast report from an ebit (earnings before interest and tax) figure of $35bn to $80bn this year. Senior manager of container research and author of the report Simon Heaney, said: “If freight rates surpass expectations in the remainder of the year, we would not be surprised to see an annual profit line in the region of $100bn.” Incidents such as the Ever Given Suez grounding and Yantian port restriction have helped fuel a market where triple digit annual growth figures for spot rates are no longer surprising, Heaney said. Although Drewry expects ebit to drop by a third next year, it still predicts industry profits of almost $70bn.

Vahak, India’s fastest growing marketplace for road transport businesses and individual commercial vehicle owners has raised $5 million Pre-Series A funding. The funding round was led by RTP Global with participation from Luxor Capital and Leo Capital. The funding will be used to strengthen Vahak’s team and technological capabilities, and expand its customer and network base. India has a humongous need for freight and special goods transportation for different types of cargos. However, millions of trucks remain idle at any given point of time due to operational inefficiencies caused by lack of technology. This leads to huge monetary losses for truckers and the logistics sector on a daily basis. Vahak is harnessing cutting-edge technologies to weed out such inefficiencies and help transporters optimize their vehicle utilization through online load booking.

Safexpress, India’s largest supply chain & logistics company, has launched its ultra-modern Logistics Park in Navi Mumbai. This state-of-the-art facility is strategically located near to Mumbai Goa National Highway 66. Navi Mumbai is a hub for various industries in India, and several well-known brands have their manufacturing plants located here. Being one of the largest industrial hubs of Maharashtra, Navi Mumbai is a crucial location from supply chain & logistics perspective. Keeping this in mind, Safexpress has established its state-of-the-art Logistics Park at Navi Mumbai. This Logistics Park will serve as a nodal point for supply chain & logistics in the region. This facility is based at a strategic location and has strong connectivity with all Indian states.

Lufthansa Cargo is targeting the e-commerce market with the conversion of two Airbus freighters to be used on intra-European services. The Frankfurt-headquartered airline today announced that two of its Airbus A321 aircraft would be converted into freighters to be operated by Lufthansa CityLine. They are set to join Lufthansa’s fleet “from the beginning of 2022”. Lufthansa Cargo chief executive Dorothea von Boxberg said: “Lufthansa Cargo wants to offer customers in the eCommerce segment fast intra-European connections. With the converted A321s, we are meeting our customers’ growing demand for same-day solutions and further strengthening our dense network of global connections as well as our product offering. The selected aircraft type can transport 28t per flight, significantly larger cargo volumes than in the short-haul bellies of passenger aircraft. In addition to forwarders, integrators and postal operators, e-commerce providers will be customers for this offering.”

DB Schenker, the global leading logistics service provider that is 100% owned by Deutsche Bahn Group (Euro 39.90 Billion), today announced the expansion of its digitally forward innovation, connect 4.0. The platform allows customers to book air freight shipments quickly and conveniently online. Streamlining the logistics process as easy as Click. Ship. Done., the connect 4 air platform will provide hassle-free logistics services and meet all the real time tracking needs of a customer, including access to the company’s global transportation network. The platform is an online portal that streamlines shipping processes to deliver a seamless interface for customers. With this expansion, the company has combined the Ocean and Air transport activities on a single platform, offering customers a unique experience by helping them customize shipping services like getting real-time instant quotes, as well as booking and tracking a shipment with 24/7 online visibility from pick up to delivery

To achieve sustainable growth and to increase the energy efficiency of the logistics sector, Bengaluru-based tech-logistics company, LetsTransport has entered an agreement with India’s fastest growing EV startup, Etrio to add electric vehicles to its fleet. Under the signed agreement, LetsTransport will deploy Touro, a three-wheeled EV, in its last-mile operations across Delhi NCR, Bangalore, Hyderabad, Chennai, Mumbai, and Pune, in a phased manner over the next 6 months. These vehicles will reduce carbon dioxide emissions by replacing regular fossil fuel three-wheelers. LetsTransport which already has EVs deployed, with this addition will further strengthen its commitment to sustainable growth and will leverage these vehicles for leading e-commerce customers, as well as in food, fruits and vegetables, and FMCG sectors.

Logistics major DP World is planning to acquire South Africa’s Imperial Logistics Ltd for $890 million, one of DP World’s most significant acquisitions in Africa so far. DP World is interested in acquiring Imperial and all its businesses to expand its logistics footprint in Africa and Europe. Imperial’s Logistics International business is within the scope of the offer and as such will not be sold separately under this proposed offer. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “We are excited to announce the proposed acquisition of Imperial, which will add significant strategic value to DP World given its attractive footprint and strong logistics solutions capability. Imperial has a significant presence in Africa, a market where trade is expected to grow at more than 2x GDP driven by population growth, accelerated urbanisation and rising middle classes. Imperial’s business strongly complements DP World’s existing footprint in Africa and Europe and will allow us to deliver a fully integrated end-to-end solution to cargo owners across a wider market.”

IndoSpace, India’s largest Grade A industrial real estate and logistics park developer, has won the ‘Logistics Deal of the Year – India’ honour at the Asset Triple A Infrastructure Awards 2021. It triumphed for closing a $137.6-million green loan facility provided by The Hongkong and Shanghai Banking Corporation Limited (HSBC). The loan facility is an extensive portfolio financing of logistics and warehousing, covering 14 projects in the prime warehousing hubs of Pune, Chennai, Bangalore and Delhi NCR. The loan will be used to finance or refinance certified green projects. The green buildings have also achieved the EDGE certification by the International Finance Corporation, a member of the World Bank Group. Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group, said: “We are grateful to receive this honour. IndoSpace moved to green warehousing early and is continuously integrating sustainability aspects into our operations and construction practices. The focus on efficient resource- management has been part of our blueprint from the start.”