Airfreight rates in January climbed as the month progressed due to the approaching Lunar New Year holiday and anecdotal reports of a move from sea to air due to the Red Sea crisis. The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in the last full week of January rates from Hong Kong to North America climbed 8.4% on a week earlier to $5.15 per kg. From Hong Kong to Europe prices last week were up 4.5% week on week to $4.16 per kg. Airfreight rate data provider TAC Index said the increase was expected. “The increase is in line with expectations that rates may spike following disruption to ocean shipping in the Red Sea, though sources also point out that rates often rise in the runup to Chinese New Year,” TAC said in a weekly market round-up. This year the Lunar New Year holiday falls on February 10 compared with January 22 last year. Forwarders have been reporting increased interest in sea-air services and airfreight as a result of the Red Sea disruption. While rates increased this week, for the month overall prices were down on a year ago. BAI figures show that January rates from Hong Kong to North America decreased 15% year on year to $5.22 per kg, while rates from Hong Kong to Europe were down 16.9% to $4.12 per kg. Rates on the routes have been trending downwards since the third quarter of 2022 as the aviation market began its slow recovery from the Covid pandemic.

Vinsum Axpress, in a strategic collaboration with the Dedicated Freight Corridor Corporation of India (DFCCIL), took an initiative that combines the efficiency of trucks with the reliability of trains, all while embracing the innovative Roll-on/Roll-off (RORO) model. The partnership with DFCCIL marks a significant milestone for Vinsum Axpress as it pioneers the integration of trucks on trains, unlocking a new era in freight logistics. By tapping into the expansive network of Dedicated Freight Corridors (DFCs), Vinsum Axpress aims to streamline the movement of goods from Rewari to Palanpur and beyond, reducing transit times and optimizing operational costs. The Truck on Train model is a game-changer in the transportation industry, offering a seamless blend of road and rail capabilities. This hybrid approach not only enhances speed but also minimizes the environmental impact, promoting a more sustainable and eco-friendly logistics solution. Moreover, the incorporation of the RORO model adds an extra layer of efficiency. Trucks can effortlessly drive onto specially designed rail wagons, eliminating the need for time-consuming loading and unloading processes. This innovative system ensures a swift and smooth transition between road and rail, maximizing the overall efficiency of the transportation process. In conclusion, Vinsum Axpress’s partnership with DFCCIL and the introduction of the Truck on Train model, coupled with the RORO system, showcases a commitment to reshaping the future of freight transportation in India. This bold venture is set to redefine industry standards, offering a glimpse into the limitless possibilities that emerge when innovation and collaboration converge on the tracks of progress.

Turkish Cargo has launched three new pharma products to cater to global market needs. Its products namely, TK Pharma Standard, TK Pharma Extra and TK Pharma Advanced, will meet the expectations of the customers at the highest level by developing flexible solutions for the pharmaceutical and medical consignments in various categories. Ali Türk, Chief Cargo Officer of Turkish Airlines, said; “We are proud to be a trusted solution partner, which has helped us achieve a market share of 7 percent in the global air transportation of pharmaceuticals and medical products. We, as Turkish Cargo, are making innovative investments for the purpose of not only solidifying such trust but also adapting to the dynamics of the ever-growing healthcare industry. With the new offers, Turkish Cargo is committed to providing its business partners with more assurance, transparency, and better visibility for an enhanced quality and widened range of services.” 1. Industry standard temperature-controlled solutions TK Pharma Standard enables temperature-sensitive cargo to be shipped in compliance with the industry requirements. Thanks to TK Pharma Standard, shipments are being carried by benefiting from expert handling, high priority for loading, dedicated temperature-controlled storage, trained dedicated operations team and 24/7 customer services, available throughout the entire TK Pharma Network under the assurance of Turkish Cargo. 2. Enhanced temperature-controlled solutions For pharmaceuticals and medical products with a higher sensitivity to temperature and time, which are shipped by making use of passive packaging methods and require extra protection during apron transportation, are carried above and beyond the expectations of the industry thanks to TK Pharma Extra. While they are on the apron, the consignments, covered by such product, are carried by *temperature-controlled dollies and monitored from the point …

TVS Industrial and Logistical Parks (TVS ILP) signed MoU with the Goa Investment Promotion & Facilitation Board (Goa-IPB) for the development of a Grade A Logistics & Warehousing Park in the Verna Industrial Estate. The commitment involves an investment of ₹125 crore, marking TVS ILP’s proactive stance in fostering industrial growth in the state. “Spanning an area of 15-20 acres, the project anticipates providing direct employment for 250 individuals and creating indirect opportunities for up to 1000 people, thereby contributing significantly to job creation in the local community. TVS ILP’s mission is to cater to the existing industries in Goa while enticing potential investors in critical sectors. The collaboration with the Government of Goa, as signified by the MoU signing, showcases TVS ILP’s dedication to enhancing the state’s industrial landscape,” reads the release. Dr. Ramnath Subramaniam, CEO of TVS ILP, said, “Our partnership with Goa-IPB is a significant milestone for TVS ILP. The Central Government has been making investments in Goa’s infrastructure, making it an attractive business destination. This MoU will help put Goa on the map for many businesses that require specialized warehousing solution. By aligning with the government’s vision, the logistics park aims to become a catalyst for economic growth, fostering industrialization and generating employment opportunities for skilled and semi-skilled talent in the state.”

JB Singh, Director, MOVIN Express shares his expectations from the upcoming budget, “It is imperative for the industry to adopt changes backed by robust technology to thrive in the fast-paced environment. Looking ahead, effective budgetary strategies, coupled with financial and regulatory incentives like Production-Linked Incentive (PLI) schemes, and strategic investments in infrastructure, will be instrumental in reducing domestic logistics costs. The logistics industry stands at the forefront of transformative change, and the government has undertaken various initiatives to implement forward-looking measures in advancing multimodal projects and fortifying infrastructure. The future relies on the efficiency, resilience, and resource optimization of supply chains. The government’s commitment to substantial infrastructure projects, such as PM Gati Shakti and the National Logistics Policy, positions India as a pivotal hub for manufacturing. The budget should emphasize connectivity projects in various economic zones, thereby helping to reduce logistics costs and time, improving productivity and the economy.”

Worldwide air cargo demand in January so far remains significantly up compared with this time last year, according to the latest figures from WorldACD Market Data, with tonnages from all the main global regions ahead of last year’s figures with the exception of ex-North America traffic. Freight forwarders continue to report anecdotally that certain cargo owners are switching some Asia-Europe cargo from sea to air or to sea-air because of longer ocean voyages caused by the disruptions in the Red Sea, although from a data perspective it is difficult to separate this traffic from the normal seasonal mid-January uplift following the New Year slowdown, and from the effects of Lunar New Year (LNY), with LNY in 2024 coming later (10 February) than last year (22 January). Reflecting the serious disruptions to international container shipping, ocean freight spot rates from Asia to Europe are now around three times their level prior to the Red Sea disruptions, although air cargo rates remain relatively stable globally, and ex-Asia Pacific, compared with before the Red Sea crisis – although ex-Asia Pacific air cargo rates had already risen in the final quarter of last year due to seasonal and product-related demand factors. Some forwarders say that in anticipation of ocean to air conversions, they are blocking additional air capacity on core trade lanes to help customers keep their freight moving. Others note that the window for booking air freight ahead of Lunar New Year (10 February) is closing and the next two to three weeks could be challenging, with the expectation of “bunched” container ships arriving en masse at the main European ports, potentially triggering port delays, driver shortages and cargo build-ups at warehouses, driving …

IKEA announces the launch of its ecommerce deliveries to thousands of pin codes across 62 districts in the states of Maharashtra, Karnataka, Telangana, and Andhra Pradesh. The expansion comes into play as IKEA continues to see excitement, demand and visits from thousands of customers hailing from nearby cities and towns to shop from the IKEA stores. These new customer meeting points will offer a full range of over 7,500 well-designed, affordable, good quality, functional and sustainable home furnishing products, along with practical solutions for the home. Customers will be able to search, find and buy their favorite products using the IKEA app, order online via the brand website www.ikea.in or through its “Shop by Phone” assistance service. Susanne Pulverer, CEO & CSO (Chief Sustainability Officer), IKEA India shares, “IKEA has received a lot of customer love and trust over the last five years from Maharashtra, Karnataka, Andhra Pradesh, and Telangana. Expanding our reach further in these markets means making IKEA more accessible to our customers, more convenient, and truly omnichannel. We see great potential in ecommerce helping us inspire and make our solutions available to the many Indians. We will leverage the distribution capabilities of our existing physical stores in these states to fulfil the demand from online channels. These emerging cities are key hubs for online retail growth, and we are thrilled to bring the IKEA experience to the doorsteps of our many customers in India.” Customers can easily explore IKEA’s app and website, which focuses on creating a better life at home through home-inspiration designs, product feed, ratings, and reviews. They can browse offers and explore New Lower Prices on products along with special discounts upon signing up …

A non-binding MoU was signed between Container Corporation of India (CONCOR) and Indian Oil Corporation (IOCL) at to facilitate discussions and cooperation between Indian Oil and CONCOR in various areas such as for using LNG as a fuel and addressing petrochemical and other container logistics requirements. Additionally, the agreement aims to establish competitive and stable pricing for contracts at existing and upcoming LNG Auto stations across India. Furthermore, the MOU entails potential collaborations such as creating virtual storage units in CONCOR’s warehouses to store Indian Oil’s petrochemical products at different CONCOR terminals. Indian Oil and CONCOR will also explore new business prospects like supplying LNG through ISO containers via Railways and Multi-Modal Logistics. Moreover, the agreement includes utilizing CONCOR’s Multi-Modal Logistics Park (MMLP) at Paradip for Indian Oil’s Pet-chem rail dispatches and potential logistics handling by CONCOR for a centralized Pet-Chem warehouse of Indian Oil, expected to be established in the near future.

Mahindra Logistics inaugurated a 1 lakh sq. ft. extension to its existing multi-client warehouse in Nashik and also announced the development of a new 3 lakh sq. ft. warehousing facility, thereby expanding its overall warehousing footprint to 5 lakh sq. ft. in Nashik, Maharashtra. This will be the largest warehousing space offered by any service provider in Nashik. The new facility is scheduled to become operational by the end of Q3 2024. The state-of-the-art facilities will significantly enhance Mahindra Logistics’ pan-India network of multi-client warehousing network. Mahindra Logistics manages the distribution of auto components for production plants located in Nashik, Igatpuri and Mumbai for an Auto OEM customer from its existing warehouse. The new facilities will offer inbound logistics and distribution solutions for Automotive, Engineering goods, and Consumer Durables customers, incorporating technology-enabled and automated processes with end-to-end visibility. Strategically located with an easy access to key industrial and manufacturing clusters as well as consumption markets in Nashik City, Aurangabad, Satpur, Silvasa, and others, these facilities are poised to facilitate efficient logistics operations. The facilities will be designed in accordance with Mahindra Logistics sustainability standards, encompassing the utilization of renewable energy, use of recycled construction materials, efficient liquid discharge management, and adherence to waste management requirements. With on-site solar power generation capabilities, they can fulfil all their energy needs and are equipped for solar charging for both cargo vehicles and personal mobility. The unique feature of these facilities is the introduction of green cement flooring in the warehouse, eliminating traditional cement. The company, along with its partners, plans to invest Rs. 100 crores for the establishment of these new facilities; and generating employment opportunities for more than 300 individuals in the …

CSafe has partnered with WFS in Bengaluru to provide active temperature-controlled containers locally for pharmaceutical shipments at the WFS Coolport. CSafe, the largest active and passive temperature-controlled shipping solutions provider for the biopharmaceutical industry, has opened a new station in Bangaluru to provide active temperature-controlled containers locally. This latest CSafe station in India follows the opening the company’s Hyderabad location in late 2022. With a second CSafe station operational in India, customers have more options for shipping temperature-controlled pharmaceuticals into and out of the country. CSafe partnered with WFS in Bangaluru to make active air cargo units available at their Kempegowda International Airport facility. WFS, a member of the SATS Group, operates two cargo terminals at Bengaluru including the WFS Coolport which is the exclusive gateway for all temperature-controlled cargo moving via Bengaluru Airport. The CSafe station at Bengaluru Airport is located inside the WFS Coolport premises, allowing containers to move in and out of the country much faster. CSafe RKN and RAP containers will be available for pick-up and return through the new facility.