The Indian logistics industry is poised to become a US$125 billion industry by 2010, an increase of around 17 per cent, from the current level, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), which has a membership of more than 20,0000companies and professionals. The optimistic forecast came in a recently-circulated paper, ‘Building Logistics for Competitive Business’ from ASSOCHAM. The paper also forecast the outsourcing of 3rd party … [Read more...] about India logistics to hit $125 billion by 2010
Logistics
Damco expands in Mozambique
Global freight forwarder Damco is to open an office in Maputo, Mozambique in order to improve its presence and service levels in South East Africa. Damco has been operating in Mozambique for the past two years from the existing office in Beira, supporting the landlocked countries of Malawi, Zimbabwe, and Zambia. Damco expects volumes through Mozambique to grow by 20 per cent next year. … [Read more...] about Damco expands in Mozambique
Panalpina wins key oil & gas logistics contracts
Weatherford and Halliburton, two major global players in the oil & gas industry and long-time Panalpina customers have awarded significant new businesses to the global forwarding and logistics group, it said. Weatherford is one of the largest global providers of innovative mechanical solutions, technology applications and services for all phases of oil and gas developments. The group has awarded Panalpina with significant air and ocean freight export business from the US and Canada. In … [Read more...] about Panalpina wins key oil & gas logistics contracts
UPS looking at acquisitions
United Parcel Service Inc (UPS) is looking for acquisitions to bolster its supply-chain and freight-forwarding units, according to its CEO Scott Davis. UPS has made more than 40 purchases in the past decade, and there are “likely to be some more†in the coming year, with China, India and the Middle East at the “top of the list†for expansion,said Davis. “We’re strengthening ourselves in emerging markets, the Middle East, Asia, areas where we think we … [Read more...] about UPS looking at acquisitions
Panalpina third quarter slides 40%
Basel-based freight forwarder, Panalpina said net profit for the three months was US$3.7 million, a 40 per cent slide in year-on-year revenue while net forwarding revenue declined to $1.4 billion from $2.36 billion a year earlier. Volumes are down from last year by 25 per cent for air cargo and 18 per cent for sea freight, which the group attributed to the chronically weak market conditions that have affected the entire global freight industry over the last year. Speaking on the results … [Read more...] about Panalpina third quarter slides 40%
Toll group acquires UAE logistics firm
Sydney-based Toll Group has announced the acquisition of Logistic Distribution Systems (LDS), a private international freight forwarding company in the United Arab Emirates (UAE). The Toll Group said the Middle East and in particular the UAE was a key strategic market for the rapidly expanding company. “The acquisition of LDS enhances our existing operations in the Middle East and is consistent with our growth strategy. It will be funded from existing cash reserves and the transaction is … [Read more...] about Toll group acquires UAE logistics firm