How is Kale Logistics spearheading digital transformation in cargo operations?
ITLN - Indian Transport & Logistics News
by Our Correspondent
21h ago
Amar More, co-founder, and CEO of Kale Logistics, sat down for an interview with Nehal Gautam of STAT Media Group at the Air Cargo India 2024 event. During this conversation, Amar More highlights the pivotal role of technology and digitalisation in revolutionising cargo operations and trade facilitation at airports. Reflecting on Kale's recent achievements, including milestones in deploying Airport Cargo Community Systems globally and securing $30 million in Series B funding, More elaborates on the company's plans to leverage this capital to expand its industry presence and develop cutting-ed ..read more
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CMA CGM, OCEAN Alliance roll out Day 8 Product
ITLN - Indian Transport & Logistics News
by Our Correspondent
4d ago
The CMA CGM Group, COSCO Shipping, Evergreen and OOCL announced the launch of OCEAN Alliance's DAY 8 Product. Following the renewal of the partnership till 2032, the new programme marks CMA CGM's commitment to continue offering its customers the highest quality of service, says an official release. "Due to the unstable situation in the Red Sea, ships must be routed through the Cape of Good Hope, disrupting supply chains. CMA CGM and its partners are stepping up coordination and adapting the rotations of the DAY 8 Product. This will maintain the same high standards of visibility, reliability ..read more
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Over 80% U.S. SMB leaders say trade directly benefits them
ITLN - Indian Transport & Logistics News
by Our Correspondent
4d ago
A vast majority of small- and medium-sized business (SMB) leaders in the U.S. believe trade is essential to growing and expanding the U.S. economy (88 percent) and growing jobs (85 percent), according to a study by FedEx. The Small Business Trade Index, released by FedEx, is based on a survey of SMB leaders conducted by Morning Consult between February 14 and 24, 2024. "The poll was conducted among small business decision makers, which are defined as those who work for companies with less than 500 employees and hold a position of manager or higher. 1,007 SMB decision makers were interviewed i ..read more
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IndoSpace launches first in-city warehousing facility in Mumbai
ITLN - Indian Transport & Logistics News
by Our Correspondent
5d ago
IndoSpace announces the launch of its first in city warehousing facility in Chembur under the brand name INLOGIS, a cutting-edge in-city warehousing solution in the heart of Mumbai. The facility spans over 1.5 lakhs+ sq. ft offers scalability options ranging from 5000 to 35,000 sq. ft, enhancing urban logistics across several sectors. Strategically located in Chembur, it provides seamless connectivity to South Mumbai, Western Suburbs, Eastern Suburbs, and Navi Mumbai, thus serving over 50% of Mumbai's population and meeting the growing demand for quick and efficient urban distribution service ..read more
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ProcMart appoints Sachin Jain as chief financial officer
ITLN - Indian Transport & Logistics News
by Our Correspondent
5d ago
ProcMart announced the appointment of Sachin Jain as its new chief financial officer (CFO) and chief strategy officer (CSO). Sachin, a seasoned financial leader with a rich background in finance, strategic planning, and implementation, brings close to two decades of expertise to ProcMart. This appointment marks a significant milestone for ProcMart as it aims to further strengthen its financial framework and drive growth. Sachin is a Chartered Accountant (CA), Company Secretary (CS), and Cost & Management Accountant (CMA). He holds a Diploma in Advanced Management & Learning Program fr ..read more
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Hapag 2023 profit drops 82% to $3.2bn
ITLN - Indian Transport & Logistics News
by Our Correspondent
5d ago
German carrier Hapag-Lloyd reported an 82 percent decline in group profit at $3.2 billion for 2023 compared to $18 billion in 2022 on 47 percent drop in average freight rate to $1,500/TEU. Group revenue was down 47 percent to $19.4 billion even as transport volume in the liner shipping segment was flat at 11.9 million TEUs. Terminal and infrastructure segment reported a revenue of $202 million and EBIT of $21 million. Rolf Habben Jansen, CEO, Hapag-Lloyd “We achieved the third-best group profit in the history of our company – even if it is significantly lower than it was in the exceptiona ..read more
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Ships above 12,000 TEU drive 100% increase in average ship size
ITLN - Indian Transport & Logistics News
by Our Correspondent
5d ago
Just 626 ships provide 36 percent of the fleet’s capacity, and the trend is set to continue as the large ships dominate the order book, according to the latest update from BIMCO. Niels Rasmussen, Chief Shipping Analyst, BIMCO estimates that at the end of 2025, the average container ship could be larger than 5,000 TEU and that two segments will contribute more than 40 percent of the fleet’s capacity. “Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU have accounted for 51 percent of the fleet’s capacity expansion. Today, j ..read more
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DHL Express introduces automatic sorting hub in New Delhi
ITLN - Indian Transport & Logistics News
by Our Correspondent
5d ago
DHL Express, the world’s leading international express service provider, has opened its first automatic shipment sorting hub in New Delhi. The new shipment sorting hub, spread over 34,256 sq ft, houses the automatic sorting machines with capacity to sort 2,000 pieces per hour delivering a 30 percent improvement in productivity, says an official release. "The 18 sorting chutes, 11 truck docks and eight telescopic conveyors help in processing the inbound shipments faster, and in turn improve transit times for customers. This is the first auto sort machine to be deployed for any international ex ..read more
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ZIM reports 2023 loss of $2.7bn on lower freight rates
ITLN - Indian Transport & Logistics News
by Our Correspondent
6d ago
 ZIM reported a 59 percent decline in revenue at $5.2 billion for the year ended December 31, 2023 on 63 percent decline in average freight rate at $1,203/TEU compared to $3,240/TEU in 2022. Net loss for the full year of 2023 was $2.7 billion compared to net income of $4.6 billion 29 for the full year of 2022, driven mainly by the decrease in operating income (loss) and the $2.1 billion impairment loss, says an official release. ZIM carried 3,281,000 TEUs in 2023 compared to 3,380,000 TEUs in 2022, a drop of three percent. For the fourth quarter of 2023, revenue declined 45 percent to $1 ..read more
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DP World Cochin reports record throughput of 75,141 TEUs in Feb
ITLN - Indian Transport & Logistics News
by Our Correspondent
6d ago
DP World-operated International Container Transshipment Terminal (ICTT) at Cochin handled a record volume of 75,141 TEUs in February 2024, registering a 38 percent volume growth over February 2023. “The substantial growth of cargo handled by ICTT is a testament to the pivotal role it plays as a preferred gateway and a growing transhipment hub for cargo movement to and from markets in south India,” reads the release. Cochin connects close to 50 percent of EXIM cargo directly to the Middle East, Far East, Europe, and the Mediterranean through mainline services. The terminal also acts as a key h ..read more
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