MUMBAI : Mahindra Logistics Ltd. has agreed to form a joint venture with Japan’s Seino Holdings Co. to address warehousing and trucking needs of Japanese auto firms operating in India. The joint venture, an equal partnership, will see the integrated third-party logistics service provider infuse up to Rs 2.2 crore in one or more tranches, according to an exchange filing on Thursday. The initial paid-up capital is set at Rs 4 crore. Following the investment, the joint venture will become an associate of Mahindra Logistics, and hence, a related party. “In collaboration with Mahindra Logistics, we ..read more

MUMBAI : During the quarter ended March 31, 2024, Snowman Logistics Ltd recorded revenue of INR 126.54 Crores as against INR 112.35 Crores for the same period in the previous year. EBITDA increased to INR 29.86 Crores from INR 25.56 Crores for the same period in the previous year and PAT during the quarter was INR 2.15 Crores as against INR 5.10 Crores in the corresponding quarter of the previous year. On an annual basis, the Company recorded revenue of INR 503.37 Crores as against INR 417.65 Crores during the previous year. EBITDA increased to INR 108.32 Crores from INR 96.07 Crores and PAT d ..read more

SINGAPORE : The United Arab Emirates is looking to expand the scope of trade and services covered under the Comprehensive Economic Partnership Agreement (CEPA) with India to further accelerate bilateral trading volume, a senior UAE official said here on Thursday. India and the UAE signed the historic CEPA on February 18, 2022, to further boost bilateral trade and economic ties. Feryal Ahmadi Feryal Ahmadi, the Chief Operating Officer of the Dubai Multi-Commodities Centre (DMCC), said that the UAE is looking at agri-commodity potential and working on adding other sectors including critical min ..read more

MANDI : Union Minister Shri Nitin Gadkari said on Wednesday that the government has set a target of eliminating diesel and petrol vehicles within 10 years. “I want to eliminate diesel and petrol vehicles from this country within 10 years. Nowadays, electric scooter, car and bus have come. While you spend Rs 100 on diesel, they consume electricity worth Rs 4,” he said at a public rally in Mandi, Himachal Pradesh. India has witnessed a steady rise in the adoption of electric vehicles. India saw a consistent increase in sales of electric vehicles between April 2023 to April 2024, as shown by the ..read more

ANTWERP/MUMBAI : Earlier this year, Aprojects, still headquartered in Antwerp, announced its 16th branch in Madrid and also the 17th in Istanbul. A strategic choice to facilitate its customers even better from geographically favorable positions. To continue this strategic direction, the company is now also shifting its logistics borders towards India. The company hereby confirms the acquisition of Indian logistics service provider Super Freight. “We notice that the Indian market is in full expansion and that our presence on the ground, forward-looking, can offer enormous added value” indicates ..read more

By Mr. Vivek Juneja, Founder & Managing Director, Varuna Group The safe and efficient transportation of goods is crucial for businesses of all sizes, highlighting the indispensable role of reliable logistics partners. Ensuring secure and timely delivery through trustworthy logistics services is essential for maintaining supply chain integrity and meeting customer demands. Whether handling small local deliveries or large-scale international shipments, the reliability of logistics partners significantly influences a business’s success. Effective logistics partnerships help businesses underst ..read more

TORONTO : The Heavy Lift Group has re-elected three key executive committee members and appointed a new member in its ‘stand by’ post to provide cover in reserve, in moves signalling the specialized international project forwarding grouping continues its strategy for growth. THLG’s annual conference, staged last week in the Hague, provided the backdrop to announce the re-election of Ms. Elisabeth Cosmatos as President of the industry grouping. Also re-elected were Colin D’Abreo, as THLG Treasurer, and Alessio Bianchi as Admissions Officer. Ms. Elisabeth Cosmatos, President, THLG Ms. Cosmatos ..read more

MUMBAI : iThink Logistics, a Mumbai-based integrated logistics and supply chain solutions provider, proudly announces the launch of its innovative Weight Discrepancy Management Dashboard. The Dashboard is designed to help e-commerce sellers manage and resolve weight discrepancies with ease, thereby enhancing the operational efficiency of e-commerce sellers. Weight discrepancy has long been a significant pain point for e-commerce sellers, causing a host of operational and financial challenges. This issue arises when there is a mismatch between the weight of a package recorded by an e-commerce s ..read more

GENEVA : Gram Car Carriers ASA (GCC) has announced the acceptance of a voluntary cash offer from SAS Shipping Agencies Services Sàrl (SAS), a wholly-owned subsidiary of MSC Mediterranean Shipping Company, the world’s largest container shipping line. The offer involves the acquisition of all outstanding shares of GCC, a Norway-based provider of pure car and truck carrier tonnage. The deal, first announced in April, is valued at approximately USD $700 million. The offer represents the first stage in the SAS’s plan to acquire all issued and outstanding shares of GCC. If the SAS acquires and holds ..read more

NEW DELHI : India’s cold chain sector is on the verge of significant growth and innovation, according to Dr. Surendra Ahirwar, Joint Secretary at the Ministry of Commerce and Industry’s Department for Promotion of Industry and Internal Trade (DPIIT). Speaking at FICCI’s Cold Chain and Logistics Summit, Dr. Ahirwar highlighted the sector’s crucial role in ensuring food security and reducing waste. Dr. Ahirwar revealed that the sector currently has a turnover of about Rs 2 lakh crore and is expanding at a rate exceeding 10 percent annually. “As per one estimate, we are going to reach a Rs 5 lakh ..read more