<div><em>Allcargo currently specializes in moving bulk, break bulk, containerized and project cargo under its coastal shipping business. <strong>C H Unni </strong>reports</em><br><br>Allcargo Logistics, India's largest private sector logistics company, said on Thursday (13 August) that it has acquired two additional vessels aggregating 24,000 deadweight tonnage (DWT), for 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 additional vessels will help Allcargo to cater to the growing requirements not only of coastal shipping but regional trade and commerce as well, the company said.</div><div> </div><div>Expansion of coastal shipping services is a strategic move by Allcargo as the country has over 7,000 km of coastline. Considering India's demography and strategic location as a global trade hub, the coastline will play a major role in coastal shipping services which lead to efficient, cost effective and time saving mode of cargo transport. With the government increasing its focus on decongesting the exiting road and rail network, coastal shipping will play a pivotal role in India’s growing economy.</div><div> </div><div>“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," said Allcargo founder and chairman Shashi Kiran Shetty. </div><div> </div><div>"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,” he added.</div><div> </div><div>Allcargo currently specializes in moving bulk, break bulk, containerized and project cargo under its coastal shipping business. With many companies realizing the benefits of cargo movement through coastal route, Allcargo is well placed to lead the space and provide best in class services. Allcargo is also a leader in CFS and ICD operations pan India with six facilities as well as a leader in the project logistics and equipment hiring space. </div>
