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Cathay Cargo delivers future with next-generation freighter order

Cathay Cargo has announced the selection of the next-generation Airbus A350F freighter to meet its future fleet requirements. Cathay has placed an initial firm order with Airbus for six aircraft and has secured the right to acquire 20 more aircraft. This order for state-of-the-art aircraft to be delivered commencing from 2027 will help further strengthen Hong Kong’s status as the world’s number one air cargo hub, providing even greater cargo connectivity between Hong Kong, the Chinese Mainland and the rest of the world. Cathay Group Chief Executive Officer Ronald Lam said, “As we move into 2024, our rebuild journey is gaining momentum. This order marks another major component in our investment for the future. It reflects Cathay’s confidence in the Hong Kong hub as we look ahead to the opportunities provided by the Three-Runway System. “These highly fuel-efficient, next-generation freighters will provide important additional cargo capacity, expand our global network and contribute to our sustainability leadership goals.” *******

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Indian warehousing sector sees growth through standardisation, reach 51.3 mn sq ft in 2023

As per the recent ‘India Warehousing Market Report – 2023’ by Knight Frank, top 8 markets in India registered a historic high in warehousing demand space, reaching 51.3 million square feet (msf), in the financial year 2022-23 (April 2022 – March 2023). The report also states that this growth is driven by a surge in activities from the third-party logistics (3PL), manufacturing, and retail sectors. The 3PL sector has seen the highest rise in demand at 34% compared to the previous year, and have emerged as the linchpin of the logistics and warehousing industry in India. The Knight Frank report attributes their success to their ability to adapt to industry best practices and processes, thereby enhancing efficiency and reducing operational costs. The 3PL service providers have also played a pivotal role in addressing the challenges faced by the warehousing sector, such as the lack of modern facilities, infrastructure bottlenecks, and the need for advanced technology adoption. Their expertise and investments have elevated industry standards, ensuring that warehousing facilities in India are increasingly aligned with global benchmarks. *****

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DB Schenker, CONCOR partner to enhance sustainable EXIM business

D B Schenker India has signed an MoU with Container Corporation of India (CONCOR) to collaborate for EXIM and domestic business with a strong emphasis on sustainability. CONCOR is a prominent logistics service provider in India, with pan India presence at 64 container terminals. The MoU was signed on 19th December 2023 in New Delhi, India, in the presence of Mr. Sanjay Swarup, CMD of CONCOR, Ms. Kinjal Pande, CEO of DB Schenker (India and Indian Subcontinent), along with senior officials from CONCOR and DB Schenker. This MoU underscores the commitment of both organizations to contribute to sustainable supply chain practices and domestic multimodal solutions in the logistics industry. Kinjal Pande, Chief Executive Officer – DB Schenker, Cluster India and Indian Subcontinent, remarked, “This strategic collaboration marks an important milestone in our commitment to provide enhanced sustainable products to our customers. Road continues to be the dominant mode of transport in India and through this strategic partnership for Rail Freight, we want to significantly change the trend towards a low carbon future.”

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Air cargo peak season appears to be peaking: TAC Index

The air cargo peak season for 2023 appears to be peaking, according to the latest data from TAC Index, the leading price reporting agency (PRA) for air freight. “Following a series of rises in recent weeks, the overall Baltic Air Freight Index was slightly lower by 0.1 percent in the week to December 18, leaving it lower by 14 percent over the last 12 months,” says the latest update. Air freight prices outbound from Hong Kong – still the biggest airport in the world by cargo volume – kept going up last week, rising by a further one percent WoW to put that index ahead by nine percent YoY, led by a continuing rise in rates to North America. “However, outbound Shanghai gave back some ground after the recent surge, falling three percent WoW with rates to the U.S. dropping to leave that index only narrowly ahead YoY by 0.3 percent.” Market conditions continued to be mixed out of Europe, the update added. “Outbound Frankfurt gained six percent WoW, showing gains on rates both to China and to the U.S. though still lower by 48 percent YoY. Outbound London enjoyed no such bounce with rates falling on all major lanes to show a further WoW fall of five percent and a huge YoY drop of 57 percent. Meanwhile, the latest significant new addition to the data this week were air cargo rates from Europe to Japan, which showed a gain of three percent WoW.”

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KSRTC to induct 20 cargo trucks to enhance freight business

The Karnataka State Road Transport Corporation (KSRTC) is planning to induct 20 cargo trucks in a determined foray into organised freight business. Transport Minister Ramalinga Reddy inspected one of these trucks at the KSRTC central office and will flag off 20 on December 23, said reports. The government-owned bus operator has launched its freight business called ‘Namma Cargo’ to increase its its non-fare revenue. While the KSRTC has increased its freight traffic revenue from Rs 1 crore to Rs 2.5 crore a month, it’s planning to scale up operations. The induction of 20 ‘Namma Cargo’ trucks is a step in that direction,” added reports.

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AVG Logistics acquires over 50 cold chain vehicles to strengthen fleet operations

AVG Logistics acquires over 50 cold chain vehicles (reefer trucks) from global multinational companies to strengthen fleet operations, says release. “We acquired this fleet of 50 vehicles after detailed due diligence and assessment of vehicle quality, condition, wear & tear. This greatly enhances AVG’s ability to service recently signed a long-term contract with India’s largest MNC FMCG Company, both on the dry and frozen goods side,” company’s Managing Director and CEO Sanjay Gupta said in a statement. This acquisition takes the company’s total cold chain fleet strength to 275. AVG Logistics provides customised and technology-driven solutions across warehousing, distribution, and supply chain management.

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Welspun to invest Rs 700 cr in logistics hub in Mumbai

Welspun One, an integrated fund and development management platform, will be investing over Rs 700 crore to develop an industrial and logistics hub spread across 55 acres within the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai. For this, Welspun One has entered into a strategic collaboration with JNPA to jointly develop this project. The investment includes both land as well as construction cost. This marks the second deployment from Welspun Ones’ latest alternative investment fund that has a total corpus of Rs 2,000 crore. This project will be financed through a mix of debt and equity. “By empowering businesses and fostering employment, we are driven to generate significant regional and economic influence. The JNPA project is a declaration of our commitment to industrial excellence and the future of India’s industrial framework,” Balkrishan Goenka, Chairman, Welspun World.

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UPS adds intra-Asia flight route for faster global delivery

UPS has introduced a number of enhancements to its Asia Pacific network, including a new intra-Asia flight route, enabling customers in Singapore and Indonesia to ensure deliveries to the United States are completed in as little as two business days. The moves add more capacity and connectivity between Southeast Asia and UPS’s intercontinental network, and reduce delivery times from Singapore and Indonesia to the U.S. by one business day, says an official release. Additional upgrades to the regional network also mean businesses sending and receiving certain dangerous goods – including lithium batteries and dry ice – between Hong Kong and Singapore can now have these completed one day faster, the release added. UPS is also cutting delivery times on lithium battery shipments from Ho Chi Minh City to the United States and Europe by as much as two business days. “This is such an exciting announcement as it significantly benefits a really wide range of businesses located across the region and in a number of high growth sectors such as high tech and healthcare,” says Wilfredo Ramos, said President, Asia Pacific, UPS. “And it comes at a time of real opportunity, particularly for small businesses. In a post pandemic world, we see that supply chains are shifting and becoming more resilient. Companies around the globe require faster delivery times and seamless connectivity to gain competitiveness and capture even more opportunities as they look to build strong and reliable customer bases in markets with huge growth potential.”

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Global cargo fails to get lifted from Pune Airport

The international cargo services at the newly established cargo terminal at the Pune airport have been inactive for the past nine months due to technical issues thus causing inconsiderable inconvenience to small producers, farmers and traders. The primary cause of the delay has been attributed to an incomplete broadband (LIS line) connection that links the computers within the cargo terminal project, says reports. Consequently, the customs department has withheld approval for the international cargo service at Pune airport. The domestic cargo services though have earned appreciation for making a positive stride in local logistics this year. It may be mentioned that international cargo services are considered to be crucial for connecting local businesses to global markets and bringing them good revenue. This technical glitch has resulted in a significant setback for those dependent on the international cargo service at the airport.

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Turkish Airlines, Vietnam Airlines partner to boost air cargo ops

An agreement has been signed by Vietnam Airlines and Turkish Airlines to enhance cooperation in the field of air cargo transportation. The agreement aims to bring additional long-term benefits to air cargo customers and both airlines. Vietnam Airlines and Turkish Airlines intend to strengthen cooperation in cargo transport and will conduct research to enable the potential launch of an air cargo joint venture, providing customers with the benefits of a larger, faster network, enhanced direct flights, a wider range of destinations, and increased frequencies. Combining the resources of the two national airlines will support increased efficiency in the use of their aircraft capacities and further boost their position in global competition.

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