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Allcargo exits ship-ownership

Mumbai-headquartered Allcargo Logistics has exited the shipowning and coastal shipping business by selling its last vessel.

At one point, the company operated a fleet of five ships. Commenting on the development, Prakash Tulsiani, executive director and ceo at Allcargo Logistics, said: “The growth in coastal bulk shipping has remained slow. Consequently, the segment did not contribute significantly in line with our outlook through the last seven years. This decision was made keeping in mind the ongoing shipping recession.”

He added that the company would focus on the global container shipping sector.

www.allcargologistics.com

Heavy Lift | News

Blue Water handles hull delivery thumbnail image

Blue Water handles hull delivery

October 15 - Earlier this year, Blue Water Singapore coordinated the transport of four trawler hulls, weighing approximately 500 tons (453.6 tonnes), from Vietnam to Norway.
Views: 223
Tiong Woon sets up JV for RAPID thumbnail image

Tiong Woon sets up JV for RAPID

September 30 - Tiong Woon Crane & Transport Malaysia (TWCT Malaysia) is teaming up with PDT Oil & Gas Services to provide heavy lifting and transport services for the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor.
Views: 1541
PPG gathers in Vietnam thumbnail image

PPG gathers in Vietnam

September 30 - The Project Professionals Group (PPG) held its 12th annual conference in Ho Chi Minh City, Vietnam last week.
Views: 1509

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