DP World has published a Sustainable Development Impact Disclosure (SDID), making it the first company globally to adopt and disclose its development impact in countries of focus in accordance with the recently released impact disclosure guidance from the Impact Disclosure Taskforce. “DP World invites industry participants and practitioners to share their feedback during a four-month public consultation period, from 18 April to 1 September, to shape and refine the guidance,” reads the release. The disclosure serves as a framework for private sector companies and sovereigns, to demonstrate how ..read more

Mahindra Logistics (MLL) announced its audited consolidated financial results for the quarter and year ended on March 31st, 2024 with FY24 revenue at ₹5,506 crore as compared to ₹5128 crore in FY23. The integrated logistics company reported a consolidated loss of ₹54.7 crore in FY24 compared to a profit of ₹26.3 crore in FY23. Meanwhile, for Q4, the company with 20 million+ sq ft warehousing space and reach to 19,000+ pin codes, reported consolidated revenue of ₹1,451 crores as compared to ₹1,273 crore last year and loss of 12.9 crore compared to ₹0.8 crore. In Q4, Mahindra Logistics launched ..read more

Kuehne+Nagel Group’s net turnover in the first quarter of 2024 declined 18 percent to CHF 5.5 billion ($6.1 billion) with an EBIT of CHF 376 million and earnings before minorities of CHF 278 million ($306 million), down 40 percent. "The results were lower overall and impacted by negative exchange rate effects of three percent relative to the prior year," says an official release. The start of the business year 2024 was characterised by a slightly improving demand trend for transportation services in sea and air logistics, the release added. "The conversion rate, which describes the ratio of E ..read more

Container Corporation of India (CONCOR) and PSA MESA Supply Chain (PSA MESA) have signed a Memorandum of Understanding (MoU) in April 2024 to collaborate in offering seamless and cost-effective end-to-end logistics service to customers. “This strategic partnership aims to leverage the strengths of both organisations’ respective infrastructure and experience to enhance the “ease of doing business”. The MoU also underscores CONCOR’s and PSA’s commitment to contribute to more sustainable, efficient and resilient supply chains, in support of India’s national logistics transformation,” reads the B ..read more

The B2B manufacturing solutions provider for factories in the construction and industrial goods sector Magma Group announced its entry at the APM Terminals Pipavav Port in Gujarat to establish a new logistical home for Magma. “The APM Terminals Pipavav Port, located in Gujarat, holds strategic importance due to its proximity to key markets in northwest India and its direct access to the Western Dedicated Freight Corridor. This strategic positioning ensures seamless connectivity via road and rail, streamlining cargo movement and serving as a gateway to India's largest industrial goods manufact ..read more

Amidst steady leasing, new supply inched towards 7 million sq ft during Q1 2024, the highest in last two years with around 33% of the new Grade A developments in the first quarter concentrated in Delhi NCR, according to Colliers India. Industrial and warehousing leasing activity across the top five cities remained buoyant during Q1 2024 at 7 million sq ft. Mumbai and Chennai led the demand with about 55% share. Interestingly, leasing in Chennai, especially remained robust, with industrial & warehousing space take-up in Q1 2024 almost twice the leasing activity in corresponding period of l ..read more

The Captain of the Port established the Fort Carroll Temporary Alternate Channel, which is on the northeast side of the main channel in the vicinity of the Francis Scott Key Bridge and will provide limited access for commercially essential vessels. The action is part of a phased approach to opening the main channel, says an update from the Unified Command. "The third temporary channel is marked with government-lighted aids to navigation and will be limited to transit at the discretion of the COTP. It has a controlling depth of 20 feet, a 300-foot horizontal clearance, and a vertical clearanc ..read more

Mayani team at the Ninjacart Headquarters in Bengaluru, India Walmart-backed agri-startup Ninjacart, joins forces with Philippine B2B agritech innovator Mayani in a deal to deploy capital alongside supply chain technology and its advisory services to fuel Mayani's growth. “Ninjacart will also support Mayani’s expansion efforts and jointly establish an integrated Asian agri-food supply chain that would catalyze more digital innovations geared to address Asia’s complex food basket,” reads the release. Ninjacart’s investment in Mayani, facilitated through its venture funding arm, NinjaVenture ..read more

Maersk announced an upgrade to its ME2 ocean service to include port calls in North Europe, namely Rotterdam, Felixstowe and Bremerhaven. The future port rotation of the ME2 service will be Port Tangier – Algeciras – Rotterdam – Felixstowe – Bremerhaven – Port Tangier – Salalah – Jebel Ali – Mundra – Nhava Sheva – Port Tangier, says an official release. "This extension of the ME2 service to key destinations in North Europe will benefit North India’s exporters, particularly those in the lifestyle and retail sectors. With upgraded service, manufacturers and exporters will get expedited access ..read more

The global shipping industry has called upon the United Nations for enhanced coordinated military presence, missions and patrols to protect seafarers against any further possible aggression following the seizure of MSC Aries by Iranian forces, 50 nautical miles north-east of Fujairah, United Arab Emirates, on April 13, 2024. "The incident has once again highlighted the intolerable situation where shipping has become a target. This is unacceptable," says the letter addressed to António Guterres, Secretary General, United Nations. "We have seen a worrying increase in the attacks on shipping. Sh ..read more