Cargo Industry

Adani Ports ends FY23 with 9% growth, largest port cargo volume ever

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9 per cent growth in cargo handling at seaports it operates for fiscal year ended March 31. At 339 million tonne, this is the largest port cargo ever, APSEZ said in a statement. The firm handled about 32 million tonne of total cargo in March, up 9.5 per cent year-on-year. This is the first time since July 2022 that the volumes crossed the 30-million tonne mark. "With 339 million tonne in FY23 (April 2022 to March 2023), APSEZ recorded its largest port cargo volumes ever, which is a good 9 per cent year-on-year growth," it said. "Adani Ports has been continuously increasing its market share for the past years, outperforming all of India's cargo volume growth." The nation's largest port operator, which operates six ports on the west coast and five on the east, continues to add ports to its portfolio. Earlier this week, it completed the acquisition of Karaikal Port. While 11 ports it

Syama Prasad Mookerjee Port, India's oldest, posts highest cargo, surplus

The achievement was on the back of a jump in rail-borne cargo coupled with transhipment operations throughout the year that allowed capesize vessels to come to port

SpiceJet hives off cargo and logistics biz into separate entity from Apr 1

SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way for SpiceXpress to raise funds independently, SpiceJet said. The decision to hive off SpiceXpress is in sync with the company's long-term business plan and will unlock significant valuation of the logistic business, SpiceJet Ltd Chairman Ajay Singh said. Singh further said "the separation of our cargo and logistics arm is a stepping stone in our growth story which shall unfold in the times to come". SpiceXpress reported a net profit of Rs 51.4 crore for the April-December period of FY23. "In a bid to boost the growth of its cargo business and provide a more streamlined and efficient service to its customers, SpiceJet Ltd has completed the hive off of its cargo an

Railways increases coal transportation for power sector ahead of summer

Expecting a surge in demand for coal by power plants during the summer, the railways increased its coal transportation by 11.92 per cent in terms of tonnage by the end of February, the national transporter said in a statement on Thursday. It also said keeping in view the rising demand in the next few years, comprehensive planning of an energy corridor has been done with planned investment of Rs 1 lakh crore for over around 100 projects. Loading of rakes for the power sector from various sources in the current fiscal -- from April till February -- is 408 rakes a day against 344 rakes a day in last year, an increase of 64 rakes a day, the railways said. In February, 426.3 rakes a day have been loaded for power houses against 399 rakes a day in February last year, an increase of 27.3 rakes, it said. In order to meet the projected demand for rakes by the power sector in the coming fiscal, the railways has taken various steps, including higher induction of coal carrying wagons. From ap

IndiGo appoints Mark Sutch as CCO for international cargo business

The country's largest airline IndiGo has appointed Mark Sutch as the Chief Commercial Officer for its international cargo business. From March 1, the carrier said its cargo business CarGo will have two CCOs -- Mahesh Kumar Malik for domestic and Sutch for international segments. IndiGo inducted its first A321 freighter in November and the second one in December last year. Two more freighters are expected this year. Sutch was earlier Chief Commercial Officer with CMA CGM Air Cargo based in Marseille. He has also served with Cathay Pacific Airways, including being based for 5 years in Mumbai as the airline's Regional GM for South Asia, the Middle East and Africa. He is a British and Irish national and has spent most of his career on international assignments, a release said on Thursday. Sutch said that as the airline's international network and frequency grow, there is an opportunity to build world-class cargo products and solutions using both its A321 freighters and extensive belly

Cargo vessel runs aground in Suez Canal, traffic not impacted: Authorities

A cargo vessel ran aground in the Suez Canal on Sunday, but traffic through the global waterway was not impacted, Egyptian authorities said. The Liberia-flagged MSC Istanbul, heading to Portugal from Malaysia, got stuck in a two-lane part of the Suez Canal, said Adm. Ossama Rabei, head of the Suez Canal Authority. He added that tugboats were deployed to help refloat the vessel. Despite the MSC Istanbul's situation, convoys were transiting through the waterway without any problems, Rabei said, without elaborating on what had caused the ship to run aground. The Suez Canal allows for passage of two convoys of vessels a day in both directions. The incident was the latest case of a vessel getting stuck in the key global waterway. A tanker transporting liquefied natural gas broke down in the Suez Canal last month, also without impacting traffic in the canal. In January, a cargo ship carrying corn went aground before being refloated; after a while, traffic through the waterway was ...

SpiceJet approves slump sale of cargo biz, raising Rs 2,500 cr via QIB

SpiceJet has also decided to buy AS Air Lease in the settlement with aircraft lessor Castlelake

Amazon launches dedicated air cargo service in India to speed up deliveries

This is set to enable faster deliveries to customers

Railways looks to get up to Rs 2 trillion from freight operations in FY24

National transporter confident of meeting FY23 revenue target

Amazon looks to sell excess air cargo space as demand cools post-pandemic

The long-term plan for Amazon Air hasn't changed despite the current turmoil

European cargo airline moves NCLT to acquire 3 Jet Airways aircraft

Fresh challenge for reviving Jet as union opposes sale of assets until employees get provident fund and gratuity

Port cargo traffic growth in November slows to 3% amid trade slowdown

Flat cargo numbers since Q2 drag total FY23 growth down to 8.8%

Single-window exports clearance system roll-out likely next year, in phases

First phase is expected early next fiscal year; CBIC in talks with six major concerned regulatory agencies with the vast majority of export matters

Celebi Delhi Cargo Terminal Management plans Rs 150 crore investment

Celebi Delhi Cargo Terminal Management India Pvt Ltd plans to invest Rs 150 crore to bolster infrastructure at its facility in the national capital as the company expects larger cargo volumes in the coming months. A part of Celebi Aviation, the company operates two cargo terminals with a combined capacity of 7,00,000 tonnes per annum at the Delhi airport. Earlier, one of the two terminals was exclusively catering to erstwhile Jet Airways, which shuttered operations in April 2019. After the airline stopped flying, the terminal remained non-operational. Last month, the company re-opened the refurbished terminal as it started handling cargo of the newly-launched Akasa Air. Celebi Aviation forayed into cargo and warehousing services in 2009 with the setting up of Celebi Delhi Cargo Terminal Management India Pvt, a joint venture with Delhi International Airport Ltd. "For Delhi (cargo facility), we have plans maybe to invest another Rs 150 crore depending on what kind of infrastructure

Emirates buys 5 Boeing 777 freighters in USD 1.7 billion-valued deal

Long-hauled carrier Emirates is buying five Boeing 777 freighters in a deal valued at more than USD 1.7 billion, further expanding its cargo flight capacity, the two companies announced on Tuesday. Emirates previously announced a USD 1 billion investment to its cargo flights, including buying two new Boeing 777s and converting 10 Boeing 700-300ER passenger planes into freighter aircraft. The two new aircraft joined Emirates' fleet in 2022, while the conversions are scheduled to begin in 2023. Emirates already operates 11 Boeing 777 freighters. The airline said this order put its total orders at 200 wide-body aircraft. This order reflects Emirates' confidence in air freight demand and overall aviation sector growth, said Sheikh Ahmed bin Saeed Al Maktoum, Emirates chairman and CEO. "It lays the ground for our continued growth, which is driven by the reach of our diverse global network." Emirates, a state-owned airline based at Dubai International Airport, the world's busiest for ...

India's air traffic may grow annually by average 7% till 2040: Boeing

Boeing said on Thursday that India has on average 23 million people travelling using trains daily and even if one per cent of them shift to the aviation market, the air traffic will double

Cargo hub on cards in Chhattisgarh to reach international markets

Chhattisgarh Chief Minister Bhupesh Baghel had submitted a proposal for the hub at the 23rd meeting of the central zonal committee, held recently in Bhopal

Adani Ports handle 100 mmt cargo in 99 days, expects 60% growth by 2025

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest integrated transport utility, has clocked a cargo throughput of 100 MMT in the first 99 days of FY23

Cargo handling by Essar Vizag port up by 10% YoY to 1.3 mn tonnes in Apr

Surge in traffic marks the uptick in Indian steel sector, a major contributor to India's manufacturing output

Average time taken for customs clearance of imports comes down: CBIC

The National Time Release Study 2022 presents annual report of cargo clearance process through 4 categories of ports -- seaport, Inland Container Depots, Air Cargo Complexes and Integrated Check Posts