Cochin Economic Zone launched by DP World

DP World has commenced operations of its Cochin Economic Zone located within the Vallarpadam terminal at Cochin port. This is Kerala’s first free trade warehousing zone and the third DP World Economic Zone in India. 

DP World Cochin Economic Zone is expected to significantly enhance Cochin Port’s capabilities as the 75,000 sq.ft. facility is said to offer 67 different value-added services for supply chain operations. Ranjit Ray, Senior Vice President, Economic Zones Middle East, North Africa and...

https://www.themaritimestandard.com/cochin-economic-zone-launched-by-dp-world/

Man charged with posing as carrier agent, nabbing $9.5M in goods

A Chicago man faces federal charges after authorities say he posed as a carrier agent, duping companies into releasing shipments to him and making off with more than $9.5 million in goods. 

Aivaras Zigmantas, a 39-year-old Lithuanian national who has lived in the Chicago area and Fort Lauderdale, Florida, was indicted by a federal grand jury for allegedly posing as an agent for carriers and stealing shipments that were released to him. He intended to steal $13.5 million in goods and actually...

https://www.freightwaves.com/news/man-charged-with-posing-as-carrier-agent-nabbing-9-5m-in-goods

Truckers attest to stress-busting power of pets on the road

Life on America’s highways can be lonely, stressful and tedious for truck drivers ferrying the nation’s goods from one city to the next.

Some drivers have turned to furry companions to boost their mood and quality of life on the road. Drivers who spoke with FreightWaves said having their pets in the passenger seat keeps them active and fulfilled as they travel long distances in their homes on wheels. A survey completed last year by Truckstop Group found that half of drivers travel with their...

https://www.freightwaves.com/news/truckers-attest-to-stress-busting-power-of-pets-on-the-road

Check Call: IPO calls to logistics companies

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Transportation and logistics stocks are the future, something I’m a little surprised about. Turns out, while everyone was watching initial public offerings for Skims, Discord and the like, the logistics sector has come out in force for IPOs in 2024.

The motivation behind an IPO is typically for a privately held company to raise capital in hopes of expanding. Also, venture capitalists may use IPOs as an exit strategy to receive their return on investment in private rounds of...

https://www.freightwaves.com/news/check-call-ipo-calls-to-logistics-companies

Michigan trucker gets 10 years in prison for setting semi-trailer fires

A Michigan truck driver who was found guilty of setting Swift Transportation equipment on fire as part of a personal vendetta against the company has been sentenced to more than a decade in federal prison.

Viorel Pricop, 66, of Allen Park, was sentenced Friday to 10 years and one month in prison for setting six semi-trailers ablaze in California’s Inland Empire region and High Desert during a 10-month span. Judge Sunshine S. Sykes of the U.S. District Court for the Central District of California...

https://www.freightwaves.com/news/michigan-trucker-gets-10-years-in-prison-for-setting-semi-trailer-fires

Logistics companies seek integrated location tracking solutions

In partnership with Radar

Accurate location tracking is a vital aspect of many industries, perhaps none more so than logistics and transportation. With the costly pitfalls of lost assets or misplaced leases and the prevalence of fraud, theft and location spoofing, 3PLs and carriers are constantly in need of more accurate and more efficient means of tracking and securing equipment and drivers.

Nick Patrick, co-founder and CEO of Radar, first encountered the challenges of location tracking while...

https://www.freightwaves.com/news/logistics-companies-seek-integrated-location-tracking-solutions

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