Logistics Limited News

German shipping company Hapag-Lloyd announced it has signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate.Additionally, Hapag-Lloyd AG signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s shareholding to 40%. The contracting parties agreed to not disclose any financial details of the deal.J M Baxi Ports & Logistics Limited is a private terminal and inland transport service provider in India.

Responders are facing challenging monsoon season conditions as they work to salvage a containership that caught fire and grounded in the in the Bay of Bengal last month.The stricken containership SSL Kolkata remains aground in soft mud some 7.5 nautical miles off the Indian Sunderbans, Kolkata, West Bengal, after an explosion in one of the containers lit a fire on board the vessel on June 13.An oil spill response team from OSRL has arrived on scene and is the process of managing the counter pollution operations as responders battle challenging weather conditions…

NYK has signed a joint-venture agreement with Bolloré Transport & Logistics Kenya Limited (Bolloré) and Toyota Tsusho Corporation to establish Bolloré NYK Auto Logistics Limited, a logistics company for finished cars. In late August, a signing ceremony was held in Kenya, and attended by Eric Melet, Managing Director of Bolloré, Takashi Hattori, Senior Managing Director of Toyota Tsusho Corp., Koichi Chikaraishi, senior managing corporate officer of NYK at which time they attended the ceremony to commemorate memorandums of understanding (MOUs) in Sixth Tokyo International Conference on African Development (TICAD VI). Kenya, a country currently experiencing strong economic growth, is expected to see a rise in finished car imports and become a gate port for countries in East Africa.

Shreyas Shipping & Logistics Ltd reported weak set of earnings in its third quarter earnings on Friday. Net profit fell a staggering 88 percent to Rs 2.77 crore year-on-year (YoY) and EBITDA margins dipped 17.4 percentage points to 6.4 percent (YoY). It has reported a consolidated total income from operations of Rs 141.14 crore and a net profit of Rs 2.77 crore for the quarter ended Dec '15. For the quarter ended Dec 2014 the consolidated total income from operations was Rs 139.83 crore and net profit was Rs 22.38 crore. VK Singh, CEO of Shreyas said that the even though capacity had increased but low demand due to global meltdown impacted this quarter. Revenue growth was limited as freight rates fell 30 percent this quarter, he added.

Transportation and consulting services firm McQuilling Partners, Inc. says it has reached an agreement with Seaways Shipping and Logistics Limited (SSLL) to establish Seaways McQuilling Private Limited. Through offices located in Mumbai and New Delhi, the core business of the company will be to provide tanker, dry bulk, chemical and offshore brokerage services, as well as research and logistics consultancy within India and its related markets. McQuilling Partners and its companies has delivered over forty years of international marine transportation services and consultancy experience to Seaways McQuilling Private Limited, while Seaways provides over two decades of integrated shipping and logistics expertise to the partnership, specifically in India. Capt. Capt. P.V.K.

CII-Institute of Logistics, as a part of its continuous endeavor in driving excellence and enable in sharing best practices in logistics and supply chain management organized the maiden Supply Chain And Logistics Excellence (SCALE) Awards on 21 & 22 May 2014 at Mumbai. The Award comprised 10 categories in logistics service industry and 4 in user industry. Awards list enclosed. R Dinesh, Chairman, CII Institute of Logistics Advisory Council, Chairman SCALE Awards & JMD, TVS Sons Limited highlighted that “CII believes that this will be a step towards bringing in global standards in logistics and supply chain sector and enable more outsourcing to take place”.

Aegis Group, a Leader in Oil, Gas and Chemical Logistics, announced successful early commissioning of the 70,120 KL Bulk Liquid Terminal at Pipavav port on West coast of India. The Pipavav - Phase I expansion was initiated in February 2013 to set up Bulk Liquid Terminal of 1,20,000 KL & 2,700 MT of Gas Terminal & was targeted to commission in H2 FY2015. However, the best efforts of in-house project team resulted in advancement of project by six months. Over 50% Liquid Facilities has now been commissioned with 13 additional tanks operational with a storage capacity totaling to 70,120 KL. Phase I of capacity expansion at Pipavav is a greenfield project to set up Bulk Liquid Terminal with 31 tanks aggregating to the storage capacity of 1…

Allcargo switches to RTG operation with four Kalmar cranes in India. Cargotec has received an order for four all-electric, Kalmar E-One2 rubber-tyred gantry (RTG) cranes from Allcargo Logistics in India. The RTGs are scheduled to start operations in April next year. The order has been booked in the second quarter of 2011. Rapid growth in container traffic moving through the Indian ports has prompted Allcargo Logistics to convert container handling at its container freight station in Chennai and plan new facility near Mumbai using rubber-tyred gantry crane, each with two RTGs.

Mumbai: Essar Shipping Ports & Logistics Limited (ESPLL) which is a part of Essar Group today held its Committee of Directors (Demerger Committee) meeting and announced the completion of the demerger process. The committee fixed 19th May 2011 as the record date. ESPLL announced that the company has received all the approvals hence the completion of the process. The company also announced the new management structure for the two companies once they are listed on exchange. Post demerger, the present company will be split into two entities – Essar Ports Ltd and Essar Shipping Ltd.