Gateway Rail’s ICD near Ahmedabad commences operation

Gateway Rail Freight – a subsidiary of Gateway Distriparks –  has added one more Inland Container Depot (ICD) to its network. On 26th of July, the company formally unveiled operations at Viramgam near Ahmedabad. The inauguration was marked by flagging off the first export train service from Viramgam carrying export containers of Honda Motorcycle and Scooters India Ltd (HMSI). Sachin Bhanushali, Director and CEO, GatewayRail said, “We are committed to offering a reliable rail transportation service for imports and exports from our Viramgam ICD which would make a fundamental difference in the Intermodal…

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TCI reports low single-digit revenue growth in Q1

The impact of the weaker business environment has probably begun impacting the financial results of the leading logistics firms in the country. Transport Corporation of India (TCI) – India’s leading integrated logistics player- first quarter results has shown a low 5.3 percent growth (Rs 662 crore) in its consolidated revenue in Q1, 2019 as against Rs 629 crore in the corresponding quarter last year. Commenting on the results, Vineet Agarwal, Managing Director TCI stated, “The Indian economy has witnessed a comparatively weaker environment and sluggish demand almost in all sectors…

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Tata companies partnership to install charging stations at a rapid pace

Tata Power and Tata Motors recently announced their partnership to install 300  fast charging stations for electric vehicles by the end of the FY20, across key five cities namely Mumbai, Delhi, Pune, Bangalore and Hyderabad. Over the next two months, 45 more chargers will be installed across the other four cities. These chargers will be installed at Tata Motors dealerships, certain Tata Group retail outlets and other public locations. The chargers will be operated by Tata Power and will adhere to Bharat Standard (15 kW) for the initial 50 chargers.…

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FM Logistics to kickstart multi client facility project near Gurgaon

French  firm FM Logistics, which is seeking to expand its footprint in India, will soon kickstart the construction of a major multi-client facility near Gurgaon as its larger plans to position itself at critical geographical locations. This would be in addition to one such unit which exists in Bilaspur (near Gurugram).  For the new site, the company has acquired 31 acres of land in Jhajjar. With the help of its real estate sister company NG Concept, construction of the MCF is expected to start in the coming months. The Jhajjar…

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NHAI to open more Toll-Operate-Transfer projects for private investment

National Highways Authority of India (NHAI) organised a road show for the third phase of Toll-Operate-Transfer project for prospective bidders in New Delhi early this month. Speaking on the occasion, Chairman of NHAI Narendra Nath Sinha said several more bundles will be offered in the months to come. He called upon the private investors to bid for these bundles, saying TOT is a risk-free model. The TOT bundle 3 comprises of nine stretches traversing a total length of approx. 566 kms in UP, Bihar, Jharkhand and Tamil Nadu. Stretch 1…

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DP WORLD REPORTS MINOR VOLUME GROWTH IN Q2 2019

DP World has reported handling 35.8 million TEU (Twenty-Foot Equivalent Units) across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5% year-on-year on a reported basis and 0.5% on a like-for-like basis.   Strong performance across Asia Pacific, Indian Subcontinent and Africa drove growth in 2Q2019, but weaker volumes in the UAE and Australia offset this trend.   Consolidated volumes in 2Q2019 grew by 10.6% on a reported basis but down 0.6% on a like-for-like basis. The strong reported growth…

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Rivigo receives USPTO patent for its relay system

Indian tech-enabled logistics firm Rivigo has been granted patent rights by The United States Patent and Trademark Office (USPTO) for its driver relay model that uses algorithms to determine availability of drivers for trucks, enabling drivers to return home each day. The patented system uses intelligent driver allocation system through algorithms developed by Rivigo to pick the right driver for a duty based on multiple parameters including equitable distribution of driving hours, rest hours, transit hours, etc. The algorithm also considers driver performance on parameters like driving behavior while deciding the final match between…

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Weak outlook for gold demand in coming quarters

India’s gold demand in the April-June 2019 quarter saw an increase of 14 per cent on a year-on-year basis, but it might remain muted in the next two quarters. Among the reasons for a weak outlook are high domestic prices. The rates, already high in international markets, will increase further in India on account of the 2.5 per cent import duty increase announced in Union Budget 2019 earlier this month. This report was published by GFMS, a Reuters initiative. According to GFMS Gold Survey: H1 2019 Review and Outlook, published by the Refinitive today,…

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Sugar buffer stock creation a positive for industry, farmers: ICRA

The Government’s decision to create a sugar buffer stock of four million tonnes for a year would not only help industry financially, but also improve the demand-supply situation in the domestic market, said rating agency ICRA in a statement. “According to our estimates, the closing sugar stocks for sugar year 2018-19 (October 2018-September 2019) would be high at around 14.5 million tonnes. The direct impact of this move by way of compensating mills for the carrying cost alone would translate into a higher profit before tax margin by about 1.5-1.8…

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Befriending emerging technologies to improve Asia’s Dynamic Supply chain

By Guruprasad Gaonkar, APAC SaaS Leader, Office of Finance (ERP) & Digital Supply Chain, Oracle   By 2026, almost 50% of Asia’s populace will be dwelling in urban zones, which will resultin unprecedented pressure on already shaky infrastructure and supply chains. Doubtlessly, the duty of keeping up effective supply chains not only lies with the delivery organizations but also with the logistics value chain. As one of the most predominant financial power houses, Asia Pacific gets around 70% of the world’s container traffic in its ports, which adds to the…

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