FedEx Trade Networks, the freight forwarding arm of logistics major FedEx, on Thursday said that the company has launched a priority ocean freight service between India and United States.
The FedEx International Direct Priority Ocean service, as the service is named, will use premium ocean carriers to ship cargo directly between India and United States to ensure lesser transit time.The company will use a mix of premium ocean carriers. FedEx Trade Networks had earlier launched a similar service between China and United States and following a rise in trade between India and United States, the company has decided to launch the same in India.
Meanwhile, FedEx Trade Networks, has also set up a new office in Bangalore to cater to the rising need of trade from South India. Currently, the company has offices in Chennai, Delhi and Mumbai. “This specialized service includes premier ocean freight forwarding, U.S. customs brokerage, online visibility and reliable delivery for both less-than-container-load (LCL) and full-container-load (FCL) cargo”, FedEx said in a statement.
Officials of FedEx have said that the ocean business from India has grown by more than 60% on a yearly basis. “While FedEx Trade Networks overall ocean volume has tripled since 2008, its FY13 International Direct Priority revenue grew 182.7% over the prior fiscal year’, the statement added.
Ocean cargo transport in the country is currently a fragmented industry with more than 100 companies in the space providing services to customer. “What FedEx provides is reliability and short transit time. The Indian market is a crucial market for us and is an important part of our global expansion plans”, said Rajat Khosla, Country Managerfor FedEx Trade Networks.
Meanwhile, the company has also said that the pricing of the service will be customized and based on requirements.
