Allcargo Logistics plans to cut costs by $30 million in FY24 amid global...
Allcargo Logistics aims to cut costs by $30 million (about Rs 250 crore) by the end of 2023-24 amid the ongoing slowdown in the global logistics sector, even as it is spending $100 million (Rs 830...
View ArticleIndia makes logistics & maritime headway in 2023
In a significant development for India’s logistics and maritime sectors, 2023 has been a year marked by notable advancements and ambitious initiatives. According to the World Bank’s Logistics...
View ArticlePHDCCI presents economic memorandum to Union Finance Minister ahead of Union...
In anticipation of the Union Budget for the fiscal year 2024-25, the PHD Chamber of Commerce and Industry (PHDCCI) has submitted a comprehensive memorandum on the economy to the Union Finance Minister,...
View ArticleIndia poised to challenge China’s supply chain dominance in 2024: Anand Mahindra
In his New Year address on social media, Mahindra Group chairman Anand Mahindra expressed optimism about India emerging as a formidable competitor to China’s supply chain dominance in 2024. Mahindra...
View ArticleIndia eyes 55% Rail share in freight, targeting single-digit logistics costs:...
Indian Railways must double its modal share in freight to 55% for India to achieve global economic competitiveness, according to Railway Minister Ashwini Vaishnaw. “On aggregate, we should be reaching...
View ArticleMawani investment projects worth 13 billion riyals in 2023
The achievements included the establishment of 8 logistics parks, the introduction of 28 new maritime services, and the receipt of 7 regional and global awards. During 2023, the Saudi Ports Authority...
View ArticleInchcape Shipping Services acquires major stake in Leth Suez Transit
UK-based shipping servicer Inchcape Shipping Services has announced an investment for a majority stake in Leth Suez Transit (LETH) to strengthen operations. Through the acquisition, LETH aims to use...
View ArticleONE introduces Japan Taiwan Cat Lai (JTC) service
Ocean Network Express (ONE) has unveiled its latest service – the Japan Taiwan Cat Lai (JTC) service. JTC is designed to offer customers enhanced connectivity through new direct services, ensuring...
View Article‘World’s first’ 700 TEU pure battery-powered containerships are here
China’s shipping company COSCO Shipping Development has taken delivery of two 700 TEU electric containerships built by COSCO Shipping Heavy Industry (Yangzhou), part of COSCO Shipping Group. On...
View ArticleUkraine Successfully Exports 13 Million Tons Of Goods Via Black Sea Corridor
Ukraine has successfully shipped 13 million tons of goods via the recently constructed Black Sea shipping corridor. The new corridor was established after Russia withdrew from an agreement that...
View ArticleArcelorMittal partners with IIT Madras to build Asia’s 1st Hyperloop facility
One of the world’s largest steel producers, Luxembourg-based ArcelorMittal, has entered into a partnership with Indian Institute of Technology, Madras to create Asia’s first Hyperloop facility....
View ArticleREC, Bank of Baroda sign MoU to finance power, infra and logistics projects
REC Limited signed a memorandum of understanding (MoU) with Bank of Baroda on Wednesday. This agreement will facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in...
View ArticleProblems in Red Sea will have no impact on India’s maritime trade: Shipping...
Ports, Shipping and Waterways secretary T K Ramachandran on Wednesday said the problems in the Red Sea will have “no impact” on India’s maritime trade with the rest of the world. The situation around...
View ArticleGautam Adani and Karan Adani re-designated as Executive Chairman and MD of...
Adani Ports And Special Economic Zone Ltd on Wednesday announced key board restructuring at the company, based on the recommendation of nomination & remuneration committee. It said that Gautam S...
View ArticleAdani Ports to raise up to $601 million funds by selling debentures
Adani Ports and Special Economic Zone, India’s largest private port operator, will raise up to 50 billion rupees ($600.6 million) by selling non-convertible debentures, it said on Wednesday....
View Article11 firms expressed interest in port project in Great Nicobar Island: Govt
The government has received expressions of interest (EOIs) from 11 players for the Rs 41,000-crore international transhipment port project at Great Nicobar Island in the Bay of Bengal, Union minister...
View ArticleWest Bengal government plans dedicated tea park on Kolkata port land
Syama Prasad Mookerjee Port, Kolkata (SMPK, formerly Kolkata Port Trust) has identified land for a proposed tea park to be set up by the West Bengal government. Rathendra Raman, Chairperson, SMPK, said...
View ArticleGovt flags off ‘holistic’ review of ship age norms
Less than a year after it introduced age norms for ships, both Indian registered and foreign flagged, from calling at the country’s ports to load and unload cargo, the Directorate General of Shipping...
View ArticleKolkata port to submit DPR of Great Nicobar transhipment project soon
The Syama Prasad Mookherjee Port (SMP), formerly known as Kolkata Port, is set to submit the detailed project report (DPR) for the ambitious International Container Transhipment Port (ICTP) at Galathea...
View ArticleBox volume at Nhava Sheva Port hits a new high in 2023
India’s Nhava Sheva Port (JNPA) ended 2023 on a strong note, with its annual container throughput reaching a new high. The port saw yearly containerised traffic rise 7% year-over-year to 6.3 million...
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