 "Allcargo acquires two large vessels")
Integrated logistics service provider Allcargo Logistics has acquired two additional vessels aggregating 24,000 DWT for an undisclosed sum for its coastal shipping business.
With this, Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry. The main criterion for this acquisition was to cater to the growing requirements not only of coastal shipping but regional trade and commerce as well.
"As an organisation, we believe that India's economy will need a more efficient and time saving mode of transportation, to keep pace with its growth. Coastal shipping is the solution for this opportunity. We are helping our customers to create logistics solutions through coastal shipping, making their cargo movement more seamless and cost effective," said Shashi Kiran Shetty, Founder & Chairman, Allcargo.
India has over 7,000 km of coastline. Considering India's demography and strategic location as a global trade hub, the coastline will play a major role in coastal shipping services which lead to efficient, cost effective and time saving mode of cargo transport. With the government increasing its focus on decongesting the exiting road and rail network, coastal shipping will play a pivotal role in India's growing economy.
The company specializes in moving bulk, break bulk, containerized and project cargo under its coastal shipping business. With many companies realizing the benefits of cargo movement through coastal route, Allcargo is well placed to lead the space and provide best in class services.
Allcargo's unique capability as an integrated logistics service provider is main reason it is a leader in the industry. It also specializes in on Vessel Owning Common Carrier (NVOCC) wherein it is the one of the largest less-than-container-load (LCL) consolidators in the world. Allcargo is a leader container freight station (CFS) & inland container depot (ICD) operations pan India with six world class facilities as well as a leader in the project logistics and equipment hiring space.
Allcargo is also one of the fastest growing service providers in the contract logistics space. With these capabilities, Allcargo is well placed to provide an unparalleled coastal shipping service which adds value to its customers' logistics requirements.