Concor to soon commence coastal shipping in India
State-owned Container Corporation of India Ltd (Concor) will commensurate the coastal movement of goods as part of its multi-modal logistics strategy to offer a cheap, fast, and cleaner mode of transportation.
Earlier, the Concor and Shipping Corporation of India (SCI) signed a Memorandum of Understanding (MoU) to explore business opportunities for leveraging the advantage of each other’s infrastructure and experience in synergy to offer seamless and cost-effective end-to-end logistics services to customers under a single window.
Read Also : SJVN Limited holds 36th Annual General MeetingThe MoU will enable SCI’s shipping services to develop Concor’s footprint in overseas locations and foray into coastal and inland waterways trade, offering a wide range of customizable logistics solutions for the benefit of trade at large.
The commodities identified for the coastal route include waste paper, ceramic tiles, sanitary ware, soda, cotton bale, and consumer durables. The company has been focusing on providing first- and last-mile connectivity to its customers, and coastal shipping can be a key link to this. It has also started a logistics app for providing first- and last-mile services.
Read Also : BEL signs Agreement with Reliasat Inc. Canada to make a foray into space domainSanjay Swarup, CMD, Concor stated that coastal shipping is a very eco-friendly mode of transport. The company had launched the coastal shipping services pre-Covid in Jan 2019 and had developed some streams from Gujarat to the South. The service was stopped in 2020 during Covid.
“First mile, last mile (FMLM) has been a very big hit. I can now share the volume numbers with you. In the first quarter (Q1FY25), in the first mile, last mile, we had an income of Rs 82 crores, which is a growth of 35% year-on-year,” he said.
“We are quite confident that with the launch of the app on a pan-India basis and other measures that we are taking like educating the customers of the benefits. So we will be able to achieve 50% FMLM,” he added.
Read Also : Gujarat Urja Vikas Nigam Limited (GUNVL) announces a green financing fund at RE-INVEST 2024 to support renewable energy bid winnersNews Must Read
- India’s Largest Bank, SBI raised Rs. 7,500 cr
- Indian Bank raises Rs. 5,000 Crores through issuance of Bonds
- NLCIL plans three fold increase in its total power generation capacity by 2030
- DVC enters into financial collaboration with State Bank of India
- IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal
- IREDA Signs MoU with SJVN and GMR fo Hydro Project in Nepal
- SJVN CMD visited 1320 MW Buxar Thermal Power Project
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39