August 14 - India's Allcargo Logistics has acquired two 24,000 dwt multipurpose vessels through its wholly owned subsidiary Allcargo Shipping.

Allcargo said that it has acquired the two new vessels in order to cater to the growing requirement for coastal shipping, as well as regional trade and commerce.

With its recent purchase, Allcargo Shipping now owns five vessels, which it says are "profitably deployed".