NDA’s ‘Bahi Khata’ underlines the necessity to bring down logistics cost

Presenting her maiden budget (referred as Bahi Khata), Union Finance Minister Nirmala Sitharaman highlighted the need of reducing high logistics cost saying that the major infrastructure revamp pursued by  the present NDA government since its tenure in 2014 is meant to achieve this. Speaking on the occasion, she also announced the exercise of improving inland waterways cargo network being taken to the next level with the opening of two more multi-modal terminals in the near run. The terminals at Sahibganj and Haldia and a navigational lock at Farakka under Jal…

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Major emphasis on transport infra development

In her maiden budget, Union Finance Minister Nirmala Sitharaman has provisioned for a modest hike in allocation for transport sector. Allocation this time has been enhanced to Rs 83,000 crore as against Rs 78,626 crore last year. The Finance Minister has announced a major restructuring of National Highway Programme to ensure that the National Highway Grid of desirable length and capacity is created using financeable model. After completing the Phase-1 of Bharatmala, states will be helped to develop State road networks in the second phase. The government has also raised…

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Industry, startups applaud Sitharaman’s maiden budget

Nirmala Sitharaman’s maiden budget has been received well by the leading industry associations and startups fraternity. According to Sharad Kumar Saraf, President, FIEO the budget announcements are aimed at transforming India to usher in US$ 5 trillion economy and make the country the best place for Ease of Living and Ease of Business. The budget addresses some of the basic challenges faced by manufacturing as well as exports including flow of credit, infrastructure bottlenecks, labour laws, skilling, etc. Assocham President B K Goenka called finance minister’s maiden budget a mega investment-oriented initiative…

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DHL Global Forwarding opens new facility in SEZ near Chennai

 DHL Global Forwarding has opened a new logistics services facility in the Special Economic Zone (SEZ) near Chennai. Located in Swarnbhoomi, mid-way between Chennai and Puducherry, the site is close to the thriving hub of electronics, automotive and information technology. Manufacturers benefit from the availability of consolidation at the new facility for export on behalf of overseas buyers and easy re-export options while importers stand to gain the benefits of just-in-time supply and duty deferment. DHL Global Forwarding’s well-connected transport network for cargo movement into and out of the SEZ makes it an…

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FrieghtBro to assist German port in creating digital platform

FreightBro Logistics has partnered with Port Of Wilhelmshaven, Germany, as their official digital partner with an aim to facilitate trade and digital transformation of shipping. Port Of Wilhelmshaven is the first port to be a part of FreightBro’s official partner ecosystem that consists of all major shipping lines, transporters, insurance companies, trade, and finance entities. The partnership promises both Port of Wilhelmshaven and FreightBro access to each other’s market and connection with stakeholders in respective countries. Shipping through Port of Wilhelmshaven will prove to be lucrative for forwarders on the…

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DP WORLD ACQUIRES LEADING MARINE LOGISTICS OPERATOR IN OVER $1BL DEAL

DP World has announced the acquisition of Topaz Energy and Marine from Renaissance Services SAOG and Standard Chartered Private Equity/Affirma Capital for an enterprise value of $1,079 million. Topaz is a leading international critical logistics and solutions provider to the global energy industry. The company operates a modern, versatile fleet of 117 vessels, predominantly in the Caspian Sea, MENA, and West Africa regions. The group enjoys a particularly strong position in its core Caspian Sea market. Topaz also maintains long-standing relationships with many of the leading international and national oil…

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585 regulated markets registered with e-NAM

In a written reply submitted in the Lok Sabha recently, the Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar informed that government’s National Agriculture Market (e-NAM) Scheme launched in 2016 has shown decisive signs of picking up momentum. The online platform entails facilitating transparent competitive bidding system to farmers to fetch best possible remunerative prices for their produce. So far, 585 wholesale regulated markets of 16 States and 02 Union Territories (UTs) have been integrated with e-NAM platform. Till 25.06.2019, a total of 1,64,47,924 farmers have been registered…

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DB Schenker sets up a subsidiary in Bangladesh

Global logistics major DB Schenker has taken the control of its Bangladesh operations by setting up a dedicated subsidiary entity. The company has been present in Bangladesh since 2007 in an exclusive partnerhip arrangement with a local entity but now it has formed Schenker Logistics (Bangladesh) which will be managed by the global freight forwarder’s India cluster organisation, the company said in a statement. “As one of the priority markets for our Indian subcontinent, the move to establish our own entity in Bangladesh will greatly enhance DB Schenker’s service portfolio…

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Kenya Airways Selects GE Aviation for Digital Flight Operations

Kenya Airways has selected GE Aviation for the Flight Operations suite of digital products across the airline’s fleet of Boeing 737, 787 and Embraer E190 airplanes. Kenya Airway’s fleet adds to the 15,468 unique aircraft assets that are connected to GE Aviation’s digital solutions. Implementation is currently underway with completion this year. “Kenya Airways was looking for a way to monitor fleet performance, implement and track fuel saving initiatives across their network and empower their pilots to help drive efficiency,” said John Mansfield, chief digital officer for GE Aviation at the…

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New axle load norms, surplus capacity affect commercial vehicles sales

According to a recent study by the leading credit rating agency ICRA, “the domestic commercial vehicle industry sales slowed down over the latter half of FY2019, reeling under multiple headwinds, which have continued into the current fiscal as well.” The study underlines that the slowdown in growth during H2 FY2019 was led by the M&HCV (Truck) segment, which contracted during the period.  “The road transportation sector is currently facing over-capacity, partially contributed by revision in load carrying norms in July 2018, which resulted in a 15-20% increase in capacity of CV…

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