Freight Forwarders seek new consumer base as market volumes decline.
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Freight Forwarders seek new consumer base as market volumes decline.
Freight forwarders are looking out to extend their consumer base as market volumes dwindle. Niall van de Wouw, Xeneta’s chief airfreight officer, stated freight forwarders have become stressed with reduced demand.“There are quite a few forwarders within the market that are looking to grow however they can’t do so with their existing customer base because the airfreight demand isn’t there.” Said Van de Wouw. As highlighted by Xeneta in April, they are seeking to take a larger proportion from somewhere else. This follows the conclusion made by Xeneta’s CLIVE statistics in April that forwarders aimed to grow with comfortable air cargo volumes after a boom in longer-term contracts with shippers. However, van de Wouw added that freight forwarders bargaining for enterprise is going through stiff agreement talks with shippers on top of things of the market.
Bengaluru anticipates a surge in investment in premium warehousing parks.
Bengaluru will witness a surge in investment in developing premium warehousing parks to meet the growing demand for storage space from e-commerce and third-party logistics players, says a white paper named ‘Ahead of The Curve - Bengaluru Warehousing’ by India Sotheby's International Realty with inputs from India's leading real estate data research company CRE Matrix. Looking at the demand-supply trend of the last five calendar years (2018-22), it concluded that demand has outstripped new supply by far, resulting in very low vacancy levels in existing warehousing parks and decent growth in rentals. The data provided by CRE Matrix says that the cumulative absorption of warehousing space in Bengaluru during the 2018-22 period stood at 16.34 million square feet, while the new supply was 10.5 million square feet. “Bengaluru will be in the spotlight for investments in warehouses with greater capacity for e-commerce fulfilment. Based on the anticipated rise in demand, we project that more than 250 acres of land would be required in the periphery of Bengaluru city to develop new warehousing facilities,”?
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Gati Shakti University is ready to be flagged off in August 2023 with B.Tech and MBA.
The National Rail and Transportation Institute (Vadodara) was recently renamed the Gati Shakti Vishwavidyalaya and is all set to conduct its first batch of students starting in August 2023. The deemed university, which was originally instituted in 2018, will be the first to impact education on specific aspects of transport infrastructure and the logistics sector. The new central university will offer two degrees - Bachelor of Engineering (B.Tech) and Masters of Business Administration (MBA), the application process for which has already begun. With Prime Minister Gati Shakti's National Master Plan and the National Logistics Policy instituted with a special focus on skill development, the University is a part of the systematic skill development plan of the government that was announced in this year's Union Budget and the one before that. The educational institutes established will strive to meet the demand for skilled manpower and reduce the gap between industry demand and the existent workforce in the supply chain sector.
NASA to help improve autonomous air freight transport.
With the kind of leaps that the world is taking in the field of technology, the day isn’t far when autonomous vehicles and aircraft will take over in day to day transportation of passengers and cargo. We're already seeing a number of autonomous vehicles in various use case scenarios in the supply chain industry, and going forward, they are going to eliminate/minimise the human effort required. A concept gaining traction is that of autonomous aircraft like drones and air taxis for the purpose of delivering cargo. Deliveries by drones or robots are already being tested as well as commercially used across the globe.