CEVA – Goodpack to deliver dedicated solutions to tyre industry

CEVA logistics has signed an MoU with Goodpack, which operates the world’s largest fleet of Intermediate Bulk Containers (IBCs), to develop a new game-changing concept for transportation within the tire industry. The aim is to deliver a complete and robust supply chain solution for the tyre industry in a sustainable and environmentally friendly way which will benefit the whole industry and set new standards in lowering its carbon footprint. CEVA’s market-leading tyre network will begin using Goodpack’s steel containers for both transportation and storage of tyres across Asia, North America…

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PM launches new development projects for Kandla Port

Prime Minister Narendra Modi on Monday laid the foundation stone for as amany as six projects of Kandla Port Trust in Gujarat’s Kutch worth around Rs 993 crore.  He handed over Letters of Award for Construction of Interchange-cum-ROB at Kutch Salt Junction; Deployment of two Mobile Harbour Cranes; and Mechanization for handling of fertilisers at Kandla Port. Speaking on the occasion, the Prime Minister said that if India wants to make a place for itself in global trade, it should have the best of arrangements in the port sector. The combination of…

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“TruckSuvidha is all set to launch defining value added services”

TruckSuvidha, one of the first movers in online truck aggregation space in the country, is all set to expand its portfolio and include new offerings. Isshu Bansal, Founder of TruckSuvidha, shares the details with Ritwik Sinha… Briefly take me through to TruckSuvidha journey so far. It has been widely believed that there is no synergy between truck operators and technology. In that context, how did you manage to bridge this gap? The journey these couple of years has been mind-boggling as the change in the recent years has picked up…

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What the GST rates mean for key sectors

The GST rates were announced by the GST Council on May 18th and May 19th. There are still some items like bidis and gold for which GST rates will be finalized in the next meet of the GST Council in June. This leaves the government with a little over 40 days to officially implement the GST effective from July 01st 2017. But before getting into the nuances of the implications for various sectors, there are 4 broad things that one must understand about the intent of the GST… The core intent of…

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CPPIB- IndoSpace join hands for country’s largest logistics realty deal

In a significant development last week, Pension Plan Investment Board (CPPIB) of Canada and IndoSpace, country’s leading player in modern logistics space decided to forge a joint venture to further push the industrial and logistics real estate business. CPPIB has announced pumping in upto $1.2 billion in the joint venture firm IndoSpace Core in further developing state-of-the-art logistics facilities in the country. The deal is believed to be the largest in the logistics real estate space till date. “CPPIB has initially committed approximately $500 million to the joint venture and…

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Global Air Freight Demand Increases 14% in March

The International Air Transport Association (IATA) released March 2017 demand growth results for global air freight markets showing a 14% expansion measured in freight tonne kilometers (FTKs) compared to the same period last year. This was the fastest pace of growth recorded since October 2010. Freight capacity, measured in available freight tonne kilometers (AFTKs), grew by 4.2% year-on-year in March 2017. March performance contributed to very strong first quarter (Q1) growth in freight volumes. After adjusting for the impact of the leap year in 2016, freight demand in Q1 2017…

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A.P. Moller – Maersk reports 5% increase in revenue

The profit for A.P. Moller – Maersk was USD 253m (USD 224m) with a return on invested capital (ROIC) of 3.5% (2.9%), in line with expectations in the first quarter. Gross cash flow used for capital expenditure was USD 1.6bn (USD 2.1bn). The free cash flow was negative USD 376m (negative USD 1.6bn). The underlying profit of USD 201m (USD 214m) was at the same level as last year, reflecting an increase of USD 321m in Maersk Oil due to higher oil price and lower operating expenses, offset by decreases…

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Railways redesigning e-tendering system

Ministry of railways is likely to shortly launch a redesigned e-tendering system. The system is expected to have easy features to facilitate seamless participation of a staggering over 60,000 across the country. According to a news agency report, railways is emphasizing on paperless mechanism in its tendering process and the new system will ensure the entire process – from submission of bids to the actual award of the contract- going online. The new system will also facilitate vendor interface module. It will also be equipped with facilities like auto-alerts and…

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FDI bonanza for India

At a time when the global FDI trends are not so encouraging, India has not only bucked the trend but also registered a record inflow during 2016-17. According to data released by the department of industrial policy and promotion (DIPP) last week, FDI into the country rose by 9 percent in 2016-17 touching a record level of $43.5 billion. The commendable jump in the inflow was led by the services sector which attracted $8.9 billion. Mauritius remained the leading global hub for FDI inflow in India accounting for $15.7 billion,…

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Cabinet approves four laning of Porbandar-Dwarka section

The Cabinet Committee on Economic Affairs last week approved the development of four laning of Porbandar-Dwarka Section of NH-8E in Gujarat. The cost is estimated to be Rs.1958.88 crore including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The total length of the road to be developed is approximately 118 kms. This work will be done under the National Highways Development Project (NHDP) Phase IV on Hybrid Annuity Mode. The project will help in expediting the improvement of infrastructure in Gujarat and in reducing the time and…

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