India’s Allcargo sells last ship

India’s Allcargo sells last ship

India’s Allcargo Logistics has quit shipowning and the coastal shipping business with the sale of the last vessel of what had been a five-ship strong fleet.

“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. The decision is also in line with our ambition to expand our core business with the vision to sustainably grow as a dominant player in the global container market,” Prakash Tulsiani, the CEO of the company, said yesterday. 

Allcargo is one of India’s largest private logistics companies, specialising in moving bulk, breakbulk, containerised and project cargo.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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