Logistics leasing defy slowdown theory

The economic pundits may be projecting the spectre of a serious slowdown spell in the near run (particularly exhibited by the consistent dip in automobile sales since the beginning of the year) but CBRE South Asia’s ‘India Industrial and Logistics Market View, H1 2019’ report has broadly underlined business as usual scenario in the logistics leasing space.  As per the report, logistics leasing in the country recorded a hefty 31% annual growth crossing 13 million sq. ft. Leading metros like Mumbai, Chennai and Bangalore accounted for more than 60% of leasing activity and…

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Global air cargo declines for 8th consecutive month

With US-China trade dispute a major contributing factor, the demand in the global air freight market has consistently declined for past eight months. According to the International Air Transport Association (IATA) data for June, demand measured in freight tonne kilometers (FTKs), decreased by 4.8% in June 2019 as against the corresponding month last year. “Signs of a modest recovery in recent months appear to have been premature, with the June contraction broad-based across all regions with the exception of Africa. Capacity growth remains subdued and the cargo load factor continues…

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Minor exports growth in April-July period

Despite tough market conditions, India’s overall exports (Merchandise and Services combined) during April-July rose to $181.47billion, exhibiting a positive growth of 3.13per cent over the same period last year. Exports in July 2019 were $26.3billion, as compared to $25.75billion in July 2018, exhibiting a positive growth of 2.25per cent. Responding to marginal rebound in July, 2019 merchandise exports data, exporters association FIEO’s President, Sharad Kumar Saraf said that growth in exports shows resilience of the Indian exporting community even during such tough times and sluggishness in the global economy. He,…

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Maersk delivers robust Q2 financial numbers

Global shipping major A.P. Moller – Maersk has reported a 17% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.4 bn in Q2 compared to the same quarter last year. Revenue grew slightly to $ 9.6bn, which is on par with last year, and the underlying profit increased to $ 134m from USD 15m in Q2 2018.  “Q2 was a quarter of solid progress. EBITDA was up 17% and cash flow improved 86% year on year, driven by continued recovery in Ocean,” says Søren Skou, CEO…

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DB Schenker to partner Western Sydney logistics hub project

DB Schenker has become a Foundation Partner of the Western Sydney Aerotropolis, a commercial and logistics hub that is being developed in the vicinity of the new Western Sydney Airport. A Memorandum of Understanding (MoU) was signed in Berlin recently by Gladys Berejiklian, Premier of the State of New South Wales, and Alexander Doll, Member of the Board of Management for Finance, Freight Transport and Logistics Deutsche Bahn AG and Chairman of the Supervisory Board of DB Schenker. Alexander Doll said: “The Aerotropolis is set to become a pioneering project…

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Gateway Distriparks rejigs its top management team

At the board meeting held on 14th August 2019, the Board of Directors of Gateway Distriparks have appointed Sachin Bhanushali as the CEO of the company, in addition to his existing role as CEO and Whole Time Director of the wholly owned subsidiary Gateway Rail Freight. Capt. Kapil Anand who is currently heading the CFS vertical, will be stepping down as his term comes to an end on 30th September 2019. In addition, R. Kumar who is currently CFO, Dy. CEO and Company Secretary retires on 30 September 2019. The…

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Multi-modal robot ‘GraspMan,’ to help in industrial and field applications

Indian Institute of Technology Madras Researchers have developed a Multimodal Robotic System with good grasping, manipulation and locomotion abilities for use in industrial and field applications. Called the ‘GraspMan,’ consists a pair of graspers which provides morphological adaptation, enabling it to conform to the geometry of the object being grasped. This allows the grasper to hold objects securely and manipulate it much like the human hand. A prototype of the grasper has been fabricated at the Robotics Laboratory, Department of Engineering Design, IIT Madras, and the experimental results confirm manipulation…

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Snowman Logistics reports revenue growth of 11%

During the quarter ending June 30, 2019, Snowman Logistics recorded a revenue of Rs. 62.07 crores as against Rs. 55.76 crores for the same period in the previous year, registering a growth of 11%. EBITDA increased to INR. 16.25 Crores from INR. 13.69 Crores, due to an Ind-AS adjustment of INR. 3.28 crores, registering a 19% growth for the same period in the previous year. Speaking about the quarter performance, Sunil Nair, CEO, Snowman Logistics , “Revenues have mainly increased due to increase in transportation business. In this Quarter, there has been an…

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Robotics Leader Miko Raises $7.5M Series A Investment

Miko, an India-based robotics leader, recently announced a $7.5 million Series A round led by Chiratae Ventures(formerly IDG Ventures India), YourNest Venture Capital, investor Bruno Raschle’s family office and a group of angel investors consisting technology evangelists. Its flagship product, Miko 2, is a playful learning robot that engages, educates and entertains kids. Miko will use the new investment for global market expansion in North America, UK and the Middle East. It will also bolster its roster of products with new product development, launches in multiple markets, and a commitment…

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UPS invests in autonomous driving company

UPS Ventures, the venture capital arm of global logistics major UPS has made a minority investment in autonomous driving company TuSimple. Together, both companies are testing self-driving tractor trailers on a route in Arizona to determine whether the vehicles can improve service and efficiency in the UPS® network. This is an extension of the ongoing commercial relationship between UPS and TuSimple in which UPS has purchased transportation services from TuSimple. “UPS is committed to developing and deploying technologies that enable us to operate our global logistics network more efficiently,” said Chief…

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