India, Vietnam, Mexico, UAE, Brazil emerge as vital trade hubs
Trade in Transition study finds firms being forced to adapt to rising protectionism and shifting geopolitical alliances Three quarters of businesses worldwide are overhauling supply chains by working with MORE rather than LESS suppliers to mitigate risks in an increasingly fragmented global environment. The fifth annual Trade in Transition study highlights this strategic pivot, driven […]
Each day of potential US port strike to cause 5- 10 days of backlog
The strike could create a domino effect across the global supply chain, causing backlogs, equipment shortages, and increased shipping costs. With labour contracts between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) set to expire in September 2024, a potential strike could halt operations at U.S. East Coast and Gulf Coast […]
U.S. East Coast ports to start operations, ILA calls off strike
Tentative deal includes a 62% wage hike over six years; ILA, USMX to negotiate all other issues including automation. The three-day strike across U.S. East Coast ports was called off after a tentative agreement was reached between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX). The agreement extends the Master Contract […]
Baltimore update: Unified Command opens deep draft channel
Vehicle carrier Carmen moved through temporary channel; operations to remove DALI will require suspension of transits The Captain of the Baltimore Port established a fourth channel, the Fort McHenry limited access channel, which will run the length of the northeast side of the federal channel, and provide additional access to commercially essential traffic.
MSC upgrades cargo protection offering Cargo Cover Solutions
Under this new framework, Cargo Cover Solutions is comprised of two products: MSC Extended Protection (EPR) and MSC Marine Cargo Insurance (MCI). MSC has expanded and upgraded its previous cargo protection offering, known as “Peace of Mind” insurance, which is now known as “Cargo Cover Solutions”. Under this new framework, Cargo Cover Solutions is comprised […]
Gemini Cooperation: FMC requests additional information
“Agreement as submitted lacks sufficient detail to allow for a complete analysis of its potential competitive impacts.” The U.S. Federal Maritime Commission has sought more information from Maersk and Hapag-Lloyd on the proposed Gemini Cooperation. “Maersk and Hapag-Lloyd filed the Gemini Cooperation Agreement (No. 201429) at the Commission on May 31, 2024. The agreement would […]
Trans-shipment charges at Vizhinjam lower than at Colombo port
The logistics industry is buzzing about Vizhinjam Port’s recent operationalization, especially because of its competitive trans-shipment charges. By providing more affordable options than Colombo Port, Vizhinjam has established itself as a competitive substitute for international trade routes. Vizhinjam Port’s Strategic Advantages Vizhinjam Port, situated in Kerala, is strategically positioned close to international sea routes, which […]
Shadowfax unveils centre in Surat with 10 lakh orders per day processing capacity
Logistics and delivery solutions firm Shadowfax has announced its largest fulfillment center in Surat, Gujarat. The facility, a distribution center (DC), spans over 1.5 lac sq ft and has a daily processing capacity of 10 lakh orders. The e-commerce service provider and hyperlocal company says that the newly launched hub integrates technology, including an advanced […]
CJ Darcl Logistics files initial papers for IPO
CJ Darcl Logistics Limited, a diversified logistics company, has filed its draft red herring prospectus with market regulator Securities and Exchange Board of India. The offer comprises a fresh issue of shares worth ₹340 crore and offer for sale up to 54.31 lakh shares by existing shareholders. The OFS comprises of 3.69 lakh shares by […]
Logistic major Allcargo subsidiaries buys land parcel worth Rs 231 crores in Gurgaon
Logistic major Allcargo Logistics Ltd’s two subsidiaries — Allcargo Inland Park and Jhajjhar Warehousing Private Ltd — have bought two land parcels in Gurgaon for a total consideration Rs 231 crore. Allcargo Inland Park bought the land tract from Model Economic Township for Rs 134 crore while Jajjhar Warehousing also bought bought land worth Rs […]