Allcargo Logistics Limited
TypePublic
ISININE418H01029
Industry
FoundedAugust 18, 1993 (1993-08-18)
FounderShashi Kiran Shetty
Headquarters
Mumbai, Maharashtra
,
India
Area served
Worldwide
ServicesMultimodal transport
RevenueIncrease ₹20,072 crore (US$2.5 billion)[1]
Number of employees
4,500 (2019)
Subsidiaries
  • ECU Worldwide
  • Gati
  • Nordicon
Websitewww.allcargologistics.com

Allcargo Logistics Limited is a Mumbai-based Indian logistics company.[2] It is known to offer multi-modal integrated logistics and transportation services worldwide.[3][4]

History

The company, founded by Shashi Kiran Shetty, commenced operations in 1994 as a cargo handling operator at Jawaharlal Nehru Port, Mumbai. Initially, the company started as a customs house agent and provided freight forwarding services.[5]

In 1995, ECU-Line, an Antwerp-based logistics firm, appointed Allcargo as their India agent. In 2003, the company started its first Container Freight Station (CFS) at JNPT. In 2007, it started two new CFSs at Chennai (in Tamil Nadu) and Mundra (in Gujarat), and one in Kolkata (in West Bengal), in 2017.

In 2018, Allcargo Logistics decided to monetize its existing land banks and expand into logistics and industrial parks to provide warehousing services under the name Allcargo Logistics Industrial Parks Private Limited.[6]

As of 2020, Allcargo is one of the largest non-vessel operating common carrier, with a focus on Less-than-container load business and domestic interests in container freight stations, international supply chain, express distribution, and contract logistics.[7]

In June 2023 Allcargo re-designates Shashi Kiran Shetty as Executive Chairman.[8]

Mergers and acquisitions

In 2006, Allcargo acquired Antwerp-based ECU-Line, an ocean freight services provider, whose agent it was in India. In the same year, private equity firm New Vernon Capital Fund acquired 6.42% stake in Allcargo.[9] In 2008, Blackstone GPV Capital Partners picked up a 6% stake in the company, which was later increased to 14.99% in by converting warrants worth US$23 million.[10]

In 2013, Allcargo Logistics acquired US-based Econocaribe Consolidators and a controlling stake in Netherlands-based logistics company FCL Marine Rotterdam through its wholly-owned arm Ecuhold NV.[11][12]

In 2016, ECU-Line, Econocaribe and other international acquisitions were rebranded into ECU Worldwide.[13]

In 2020, it acquired controlling stake in Hyderabad-based Gati Ltd.[14][5]

In July 2021, Allcargo acquired 65% stake in Swedish logistics major Nordicon for $29 million.[15]

Services

Multimodal Transport Operations (MTO)

Allcargo's MTO service comprises NVOCC operations related to LCL consolidation and neutral FCL activities globally, through its wholly-owned subsidiary ECU Worldwide. Initially, Allcargo entered the business of LCL consolidation as agents of ECU Worldwide (then known as ECU-Line). With an international network across 180 countries, the division provides direct export/import and multicity consolidation services.[5]

Container Freight Stations (CFS) and Inland Container Depots (ICD)

Allcargo commenced CFS operations in 2003 at JNPT (Navi Mumbai). At present, it operates four CFSs (one at JNPT and one each in Chennai, Mundra and Kolkata). Its ICD at Dadri in the National Capital Region, is a joint venture with the Container Corporation of India (CONCOR), with Allcargo's stake at 51%. Its services comprise export and import handling, LCL shipments, bonded and open warehousing, first and last-mile transportation, maintenance and repair of the dry container, reefer monitoring, and hazardous material handling.[5]

Third-party logistics (3PL)

Allcargo’s contract logistics division operates warehouses at locations like Goa, Hosur, and Bhiwandi (near Mumbai).[5]

Logistics Parks

Allcargo’s logistics parks and warehousing facilities are located at Hyderabad, Bengaluru, Ahmedabad, Delhi (NCR) and other trade hubs.[5]

References

  1. ↑ "Allcargo Logistics Ltd., Moneycontrol.com".
  2. ↑ Manglik, Rohit (1 January 2021). UGC NET Geography (Paper-ll) 2021 | 10 Mock Test (Concerned Subject Test). EduGorilla Community Pvt. Ltd.
  3. ↑ N. K. Kurup (24 June 2013). "Allcargo sees growth potential in Asian market | Business Line". Thehindubusinessline.com. Retrieved 11 August 2015.
  4. ↑ "Riding the tide: The Shettys of Allcargo – Business Today- Business News". Businesstoday.intoday.in. 17 April 2011. Retrieved 11 August 2015.
  5. 1 2 3 4 5 6 Zaveri, Jimit (22 July 2021). "Initiating Coverage Allcargo Logistics Ltd" (PDF). HDFC securities. Retrieved 22 April 2022.
  6. ↑ Manoj, P. (14 August 2018). "GST effect: Allcargo plans logistics and industrial parks". thehindubusinessline.com. Retrieved 22 April 2022.
  7. ↑ Shukkla, Sameer; Tan, Albert Wee Kwan (18 June 2021). Digital Transformation Of The Supply Chain: A Practical Guide For Executives. World Scientific. ISBN 978-981-12-2961-9.
  8. ↑ "Allcargo Group announces key level appointments; re-designates Shashi Kiran Shetty as Executive Chairman". The Economic Times. 2 June 2023. Retrieved 13 September 2023.
  9. ↑ Unnikrishnan, Anurag Joshi and Rajesh. "New Vernon eyes 10 per cent stake in all cargo". The Economic Times. Retrieved 22 April 2022.
  10. ↑ Reporter, B. S. (19 September 2009). "Blackstone invests $23 million in Allcargo". Business Standard India. Retrieved 22 April 2022.
  11. ↑ Sanjai, P. R. (27 September 2013). "Allcargo Logistics buys US firm Econocaribe Consolidators". mint. Retrieved 22 April 2022.
  12. ↑ "Allcargo acquires US based Econocaribe Consolidators". The Economic Times. Retrieved 22 April 2022.
  13. ↑ "Indian-owned logistics solution firm rebrands itself". The Economic Times. Retrieved 22 April 2022.
  14. ↑ "Gati to return to profitability next quarter: Allcargo Logistics". The Economic Times. Retrieved 31 July 2020.
  15. ↑ Manoj, P. (30 July 2021). "Allcargo arm buys 65% stake in Nordicon for $29 million". thehindubusinessline.com. Retrieved 22 April 2022.
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