Continental Warehousing Corporate (Nhava Seva) Limited, the flagship company of the NDR Group, on Friday, unveiled an inland container depot (ICD) at Sachana in Viramgam, Ahmedabad.
It will have a monthly capacity of handling up to 7,500 Twenty Foot Equivalent (TEU) of export-import cargo.
The company has formalised a tie-up with Container Corporation of India Limited (Concor) for access to the latter’s network of 70 container terminals through a hub-and-spoke arrangement. The move is in line with the company’s long-term objective of shifting all road cargo to rail.
Union Minister of State for Railways Manoj Sinha said that “The new IC...
According to official data, India’s import of total finished steel fell 36% to 7.4 million tonnes (MT) and exports jumped 102% to 8.2 MT in 2016-17.
In terms of production too the country did well, according to Joint Plant Committee’s annual report on the sector for 2016-17.
Export of total finished steel rose 102.1% in April-March 2016-17 to 8.244 MT as against 4 MT in same period of last year and dependence on import eased to 7.4 MT as compared to 11.7 MT in the preceding fiscal, it said. “During April-March 2016-17, crude steel production was 97.385 MT, a growth of 8.5%, over the same period of last year,” the report said.
Arshiya has entered into an agreement to sell six of its warehouses to Ascendas India for INR 534 crore.
The storage spaces spread across 832,000 square feet are located in Panvel, on the outskirts of Mumbai.
A statement said that"The intended objective of Arshiya is to achieve an asset light model going forward, while Ascendas will potentially be getting a portfolio of income yielding Free Trade warehouses. The term sheet also envisages the financing of the future development on the available surplus land which has development potential of approx. 4 million square feet within the existing notified area.”
The amount will be paid in two tranch...
Balmer Lawrie & Company Limited has said it is investing INR 50 crore for the construction of two cold chain warehouses to tap the growing demand for temperature controlled warehousing facilities.
Of the INR 50 crore, the PSU would be pumping some INR 33-34 crore from internal accruals as it has sufficient free cash, the company Chairman and Managing Director, Prabal Basu, said.
The company is constructing two temperature controlled warehouses one at Delhi NCR and the other at Patalganga, Maharashtra, Balmer Lawrie Director (Services) K Swaminathan said.
This project has also been approved for subsidy recently by the government which is promoting su...
India and Nepal will soon start a pilot project on electronic tracking of cargo movement between the two countries.
Currently, clearance of cargo is done through physical inspection and it is time-consuming as well as costly for business, an official statement said.
The pilot project will be supported by the Asian Development Bank (ADB) under the South Asia Subregional Economic Cooperation (SASEC) Trade Facilitation Strategic Framework.
The statement said that "A Memorandum of Intent (MOI) on India-Nepal Electronic Cargo Tracking System (ECTS) pilot run will soon be signed by the Governments of India and Nepal to facilitate movement of traffic-in-t...
India’s dependence on imported coal has fallen by 2.59% in April 2016-January 2017 as compared to the corresponding period in the previous financial year.
However, the Country’s dependence of imported coal fell even more sharply by 8.2% in financial year 2016 as compared to financial year 2015.
This information was shared by Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy and Mines in a written reply to a question in the Lok Sabha.
According to the response, “On account of increased production of coal imports have fallen from 217.78 million tonnes (mt) in 2014-15 to 199.88 mt in 2015-16.”...
BlackBuck, today announced it has raised USD 70 million (approximately INR 476 cr) in a Series C funding from Sands Capital and existing investors.
The latest round of funding will be invested in building technology-led products for the freight industry to bring out efficiencies for, both, customers and truckers.
The company said in a statement here, It will also use the funds to scale up operations. BlackBuck was founded by a three member team with a cumulative 25 years of logistics experience in April 2015.
Rajesh Yabaji, Cofounder and CEO, BlackBuck said,“Over the past couple of years, our understanding of freight dynamics has helped us create ...
The Department-related Parliamentary Standing Committee on Transport Tourism and Culture on Shipping Ministry has called for a high powered inter-ministerial group to take policy decisions on internal trade and a high-powered regulator for managing the entire area of container logistics.
The committee stated in the report, “The entire container trade is being controlled by overseas MNCs resulting in high operational costs to India internal trade.”
“The committee observes that transportation in a subcontinent like India has to be essentially based on multimodal system.
“The committee recommends that a high powered inter-ministeria...
Road Transport and Highways & Shipping Minister Nitin Gadkari has said, the Government will launch an integrated transport and logistics policy aimed at increasing the average freight speed on highways to 50 kilometer (km) per hour and cutting costs by half.
Gadkari added that “The plan includes construction of 50 economic corridors, 35 logistics parks and 10 intermodal stations at a cost of INR 5 lakh crore.”
In the budget speech, the Finance Minister had said that a specific programme for the development of multimodal logistics parks, together with multimodal transport facilities, will be drawn up and implemented.
The plan will bring t...
DHL Express has launched On Demand Delivery, a new service enabling shippers in India to give their receivers across the border, the ability to select from a range of delivery options.
The company said in a statement "With On Demand Delivery, shippers can choose to activate specific delivery options, and transfer the power of choice to them. DHL Express will proactively notify customers via email or SMS about a shipment’s progress and, at the same time, allow receivers to select from a range of delivery options that best suits their requirements via the On Demand Delivery mobile-optimized website. With the launch of this service, shippers in India will be able to ...