Investment firm Alta Capital has taken possession of logistics built and fully leased assets from Indospace spreading around 2.5 million sq. ft. The deal is one of the biggest warehousing and logistics assets acquisition in 2024, which involves purchase of over $100 million or 840 crores, as per the reports. The Grade A warehousing assets are in Ranjanagaon, Pune and Sri City, Chennai spreading across 1.3 million sq. ft and 1.2 million sq. ft, respectively. Post acquisition, Alta Capital now possess warehousing assets across India reaching 11 million sq. ft.    

Lufthansa Cargo has released its new winter flight schedule which features its freighters serving up to 17 destinations across Asia. The airline has now boosted its capacity in top Asian cities which includes the likes of Mumbai, Chennai, and Hyderabad, said in LinkedIn post. The airline has now increased one weekly flight to Mumbai and Taipei. Chennai will now be served twice a week in combination with Hyderabad or Mumbai. Lufthansa Cargo will carry out a total of 50 weekly freighter frequencies to Asia as per its newly released winter schedule. The airline has also launched a transpacific flight, connecting Frankfurt, Ho Chi Minh City, and Los Angeles, which would ensure a direct connection from Asia to U.S.A, offering faster and high-quality transit.  

Qantas Freight and Freightos have joined hands to enable freight frowarders to explore, and book capacity across Freightos platforms (Webcargo and 7LFreight) for Qantas Network across US, Australia, and New Zealand. Through this strategic partnership between Qantas Freight and Freightos, forwarders can access instant rate quotes and bookings for ground and air providers, including LTL shipments, domestic US air cargo, and international air cargo on a single platform. WebCargo now provides services to 55 carriers, representing nearly 70% of global air cargo capacity.  

The global warehousing and distribution logistics market is projected to touch the $25.7 billion mark by the end of 2031, a report from Allied Market research said. The unprecedented growth in the rise of multimodal transport system and high demand of e-commerce across the globe will contribute to the growth of warehousing and logistics market in next 7 years. The market was valued at $12,019 billion in 2021 and is growing at a CAGR of 7.7 per cent from 2022 to 2031.  

Dinesh Krishnan, Member, Managing Committee & Chairman, ACAAI Southern Region shares – “Lack of modern air cargo infrastructure at the terminals, insufficient carriage capacity, decline in domestic tonnage, poor support at the terminal levels/ shortage of staff, complex regularity processes, taxation (GST on air freight), and archaic legalisation by government on movement of air cargo has been a damper on the industry ability to grow to its true potential as a strategic national asses and Industry.”

Sanjay Gupta, CEO, AISATS shares, “We are developing two transformative projects –the multimodal cargo hub (MMCH) at Noida International Airport, featuring an Integrated Cargo Terminal and Integrated Warehousing & Logistics Zone, operational in FY 2025-26, and the AISATS BLR Logistics Park at Kempegowda International Airport, Bengaluru, ready by early-2025. These facilities will set new benchmarks in cargo handling efficiency and sustainable operations, reinforcing our position as an industry leader in technological innovation and environmental responsibility. AI and ML are and will be an integral part of our agile cargo handling processes. They will optimise our Cargo Management System (CMS) for end-to-end cargo tracking, reporting and network connectivity. Our Smart Warehouses will employ smart tech such as automated dimension scanners, conveyors, RFID trackers, autonomous vehicles, and video analytics-based monitoring to increase the speed and efficiency of our cargo operations. At the MMCH we will also deploy Automated Guided Vehicles (AGVs) within our operations thereby boosting speed and efficiency and reducing human errors.”

IATA released the data for the September 2024 global air cargo markets. Total demand, measured in CTKs (cargo-tonne kilometers) grew by 9.4 per cent in comparison with the corresponding period in 2023, resulting in 14th consecutive month of growth in the sector. Asia Pacific and Europe region saw a growth of 11.7 per cent YoY during the period. “September performance brought continued good news for air cargo markets. With 9.4% year-on-year growth, cargo volumes continued to mark all-time highs for demand. Yields are also improving, up 11.7% on 2023 and 50% above 2019 levels. All this points to a strong finish for this year. For longer-term trends, the air cargo world will be closely following the outcome of the US election for indications of how US trade policy will evolve,” said Willie Walsh, IATA’s Director General.

The officials from Envirotainer announced the signing of their Global Rental Agreement (GRA) with Air India to expand the company’s ability to deliver unparalleled temperature-controlled solutions for the pharmaceutical industry across the world. “This agreement reflects our shared commitment ensuring the safety and efficient transportation of life-saving medicines, leveraging both Air India’s extensive network and Envirotainer’s widest range of advanced cold chain solutions. We look forward to collaborating closely with Air India to support the global distribution of pharmaceuticals, keeping the patient needs at the forefront,” said Ravi Kumar Tummalapalli, MD India, Envirotainer in his official LinkedIn Post.

WestJet Cargo is set to launch its new Priority product, available across the WestJet Cargo network starting November 4th, 2024. This premium offering gives eligible cargo top priority for loading and transport, guaranteeing that shipments travel on specific flights. The product is Designed to meet the needs of industries requiring fast, reliable transportation of critical goods, such as healthcare and manufacturing. With the launch of Priority, WestJet Cargo reinforces its commitment to delivering fast, dependable transport solutions, backed by its extensive cargo network that spans Canada, Europe, Asia, and the Americas. “Our Priority product is tailored to address the growing demand for urgent logistics solutions. With shorter cut-off times and guaranteed uplift, we provide a solution that enhances efficiency and peace of mind, especially for customers in healthcare and other critical industries. These clients depend on timely, secure transport for essential goods such as human blood, tissue samples and machinery,” Kirsten de Bruijn, Executive Vice President Cargo said

Qatar Airways Cargo has gone live with CARGOSTACK Optimiser, a product of Wiremind Cargo to boost innovation in revenue management. This innovative solution is specifically designed for the optimisation of the capacity, revenue and the management of pricing. CARGOSTACK Optimise ensures efficiency of cargo operations through its advanced machine learning models. Qatar Airways Cargo’s revenue management teams will now be benefitted from CARGOSTACK’s innovative AI-generated recommendations, its intuitive UI/UX, which the users themselves provided input on during the implementation phase. “At Qatar Airways Cargo, our goal is to lead. The adoption of Wiremind Cargo’s CARGOSTACK Optimiser suite is a testament to our commitment to innovation and excellence. This partnership continues our leadership in employing technology by utilizing the most sophisticated AI solutions available to transform our revenue management processes.  We are thrilled to have found a partner in Wiremind Cargo with whom we continue to closely collaborate and deliver and fine-tune their cutting-edge solutions at such an incredible speed,” Mark Drusch, Chief Officer Cargo, Qatar Airways Cargo said