ALLCARGO LOGISTICS

Allcargo Logistics completes 75% stake acquisition in German logisitcs firm

Allcargo Logistics, an Indian logistics solutions provider and the parent company of ECU Worldwide, has completed the acquisition of a 75% stake in the German logistics firm Fair Trade GmbH.

Therefore, Allcargo Logistics will be the majority shareholder, while the previous owner will retain the remaining 25% stake.

Allcargo Logistics made the acquisition move through its subsidiary Allcargo Belgium NV, operating ECU Worldwide network, but financial information of the transaction have not been...

https://container-news.com/allcargo-logistics-completes-75-stake-acquisition-in-german-logisitcs-firm/

ECU’s parent Allcargo acquires German cargo consolidator Fair Trade GmbH

Allcargo Logistics, India’s leading 3PL provider, has added another partner to its global NVOCC network, operated under its wholly-owned subsidiary brand ECU Worldwide.

The company has signed an agreement to buy a controlling 75% stake in Germany’s Fair Trade GmbH, which offers FCL and LCL consolidation services.

“The company’s wholly-owned subsidiary Allcargo Belgium N.V. (WOS) has entered into a share purchase agreement with NBG Logistik Beteiligungs- und Beratungsges. mbH to acquire 75% stake...

https://container-news.com/ecus-parent-allcargo-acquires-german-cargo-consolidator-fair-trade-gmbh/

Indian shippers re-route more transhipment cargo to Nhava Sheva and Mundra

Cargo owners at India’s hinterland points of Chennai and Kolkata are rerouting more shipments to JNPT (Nhava Sheva) or Mundra instead of feedering to hub or intermediate ports in South Asia for mainline, long-haul connectivity.
These are usually Colombo (Sri Lanka), Singapore and Port Klang (Malaysia) .
What became the driving force in helping shippers alter their long-time supply chain pursuits away from transhipment is the introduction of block-train services by major …

The post Indian...

https://theloadstar.com/indian-shippers-re-route-more-transhipment-cargo-to-nhava-sheva-and-mundra/

Sub-continent shippers and forwarders switch to bulkers to stay profitable

As container pricing and related supply chain challenges mount amid wild demand swings and capacity imbalances, Indian and Bangladeshi shippers and freight forwarders – in co-ordination with government logistics leaders – have begun switching to breakbulk and other unconventional modes.
Mumbai-based Allcargo Logistics, parent company of less-than-container-load (LCL) consolidation heavyweight ECU Worldwide, is among many freight forwarders offering customers such alternatives.
“We have...

https://theloadstar.com/sub-continent-shippers-and-forwarders-switch-to-bulkers-to-stay-profitable/

Hackers threaten shipping firm ECU Worldwide with data leak

Containers being loaded onto a ship to illustrate the shipping firm ECU Worldwide being threatened with a data leak by hackers in a ransomware gang.

A ransomware gang is threatening to release a massive trove of data stolen from shipping firm ECU Worldwide more than a month after a cyberattack caused serious disruptions to its online platforms. 

The Mount Locker ransomware gang claimed in a post to its leak site on Sunday that it had taken 2 terabytes of data from ECU. The hackers have yet to release any data and did not respond to a message sent by FreightWaves. 

ECU, a non-vessel operating common carrier (NVOCC) specializing in the...

https://s29755.pcdn.co/news/hackers-threaten-shipping-firm-ecu-worldwide-with-data-leak

ECU suffering customer dissatisfaction as confusion reigns over cyber attack

ECU Worldwide is suffering serious damage to its reputation as customers become increasingly frustrated with its response to a cyber attack, which brought down some of its systems on 7 February and which remain unavailable.
While ECU’s website first told customers how to contact ECU staff, it is no longer accessible, and the company has not used its social media accounts – Twitter, LinkedIn or Facebook – to update increasingly exasperated …

The post ECU suffering customer dissatisfaction as...

https://theloadstar.com/ecu-suffering-customer-dissatisfaction-as-confusion-reigns-over-cyber-attack/

Allcargo exits ship-owning business

Allcargo Logistics Ltd has exited the ship-owning and coastal shipping business by selling the last vessel in a fleet of five ships.

“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...

https://container-news.com/allcargo-exits-ship-owning-business/

Allcargo lease space in CFS near JNPT

In a clear indication that the beleaguered container freight station (CFS) business is back on track, Allcargo Logistics Ltd has leased space in a CFS near the Jawaharlal Nehru Port Trust (JNPT). This is the company’s third such facility in the country’s busiest container port.

Mumbai-listed Allcargo’s move coincides with the decision of Swastik Enterprises Ltd, the entity that runs the CFS — Speedy Multimodes Ltd — to back out of its earlier decision to terminate the operation and management...

https://container-news.com/allcargo-lease-space-cfs-jnpt/