Turning perpetual optimism into a force multiplier
Logistics and supply chain are evidently one of the very few industries globally, which bounced back from the pandemic in a short span of time. There are, of course, operational challenges in the form of various disruptions - but that hasn't hampered the industry's spirit towards revival. Struggling each day, yet taking a step ahead, the industry is turning its perpetual optimism into a force multiplier; And this week's newsletter is a reflection into the same.
India is expected to witness a boost in apparel and textile exports to Russia and other nations in the region as International North-South Transport Corridor (INSTC) will connect Moscow to Mumbai through multi-mode transportation facilities. The corridor is expected to decrease the time taken for the movement of goods from India to Russia and other countries. This also opens new opportunities for Indian exporters to explore Russia and other countries because it is yet an untapped market.
Activity in Grade A industrial and warehousing facilities remains resilient, with a gross absorption during H1 2022 in the top 5 cities at 10.8 million sq feet, a 7% increase YoY, observes Colliers. The Canada-headquartered real-estate company states that in H1 2022, Delhi-NCR accounted for the highest Grade A industrial and warehousing activity standing at a 28% share, followed by Pune with a 24% share in demand. However, on the supply side, vacancy declined by 24% YoY to 11.8 million sq feet in H1 2022.About 55% of the gross absorption was led by third-party logistics players, followed by the Engineering and Automobile sectors with a share of 12% each.
The global provider of business decisioning data and analytics, Dan & Bradstreet recently published their study – Railway Freight Activity Optimism Index (RFAOI) – which is the 2nd edition of the pan-India survey.?The RFAOI for Q2 2022 stood at 63 i.e. three points higher than the previous quarter, despite the uncertainty posed by the numerous disruptions to the global economy. The survey also conferred that businesses in the western region of India are the most optimistic; And both large and medium scale businesses are more optimistic about export freight demand compared with small and micro players.
China’s Huahu Airport, located in Hubei’s Ezhou City, has started operation as Asia’s first and world’s 4th professional freight hub on 17th July. Passengers as well as cargo departing from the Airport shall reach around the country overnight, and to other parts of the world in two days. Though only passenger service has been initiated at the Airport, cargo services are scheduled to start later this year in November.
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Deendayal Port Authority, Kutch, Gujarat, aiming to enhance its status as the country’s number 1 cargo handling port, is set to develop two Mega Cargo Handling Terminals on a BOT basis under PPP Mode at an estimated cost of Rs. 5963 crores.To cater to the future requirement of the hinterland and further benefit the downstream industries around the Gujarat and allied states, the Authority has decided to develop a Container Terminal and a Multipurpose Cargo Berth at Tuna-Tekra in the Kutch District.
UPS, last week, announced an expansion of its global smart logistics network with a new airport gateway facility in India at Kempegowda International Airport, Bengaluru (BLR). With this added capacity, a new Boeing 747-8 flight will now be able to further connect their customers in India with more?international trade opportunities in Asia, Europe and the America.
Kale Logistics Solutions has penned down a contract extending its partnership with longstanding customer CHI Aviation Handling by a further five years. With Kale as CHI Aviation’s strategic tech partner, the Frankfurt-based air cargo services provider has boosted the efficiency and productivity of its ground handling operations by leveraging Kale’s cargo management system, GALAXY, to digitise cargo handling.
MOVIN,?a joint venture between UPS and InterGlobe Enterprises, is expanding its reach by adding “Express End of Day” services to seven new cities namely Ahmedabad, Chandigarh, Chennai, Hyderabad, Jaipur, Kolkata & Pune. Currently, MOVIN serves in Delhi-NCR, Mumbai, and Bengaluru.?This expansion will allow, MOVIN to add more than 500 new PIN Codes to its existing network, now covering 1000+ PIN codes for guaranteed time-definite deliveries. This will further strengthen its offerings and help cater to customer demands in the ever-expanding B2B logistics space.