India’s Allcargo Logistics has revealed it has bought two more ships, totalling 24,000 dwt to be used on its coastal shipping business.
“Post this acquisition, Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry,” the company said in a statement. No price for the vessel pair was given.
Allcargo founder and chairman Shashi Kiran Shetty said: “As an organisation, we believe that India’s economy will need a more efficient and time saving mode of transportation to keep pace with its growth. Coastal shipping is the solution for this opportunity. We are helping our customers to create logistics solutions through coastal shipping, making their cargo movement more seamless and cost effective.”
Allcargo specialises in moving bulk, breakbulk, containerised and project cargo.