Allcargo Logistics
Ingenuity in motion
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| Public company | |
| Traded as | : ALLCARGO : |
| Industry | Logistics and transportation |
| Founded | Mumbai, India (1993) |
| Founder | Shashi Kiran Shetty |
| Headquarters | Mumbai, Maharashtra (India), India |
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Area served
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Worldwide |
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Key people
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Shashi Kiran Shetty (Executive Chairman) |
| Services | Multimodal transport |
| Revenue | INR 56.18 billion (USD 900 million) |
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Number of employees
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8000 (2012) |
| Website | www |
Allcargo Logistics Ltd, part of the Avvashya Group, is a logistics firm headquartered in India. Its services comprise global multimodal transport operations (non-vessel-operating common carrier, less than container load, and full container load), pan India container freight stations, inland container depots, third-party logistics, warehousing, ship owning and chartering. The company operates across 90 countries through 200 offices. As one of India’s largest publicly listed logistics companies, Allcargo Logistics has a consolidated turnover of INR 56.18 billion (approx USD 900 million) as of March 2015.
In 1993, Chairman of Allcargo Logistics Mr. Shashi Kiran Shetty founded Allcargo Logistics as a cargo handling operator at Mumbai port. Initially Allcargo Logistics was a shipping agency house and provided freight forwarding services.
In 1995, ECU Line, an Antwerp-based non-vessel operating common carrier (NVOCC), appointed Allcargo as their India agent. In 2003, the company started its first container freight station (CFS) at the largest Indian port, Jawaharlal Nehru Port Trust (JNPT) in Mumbai. In 2007, it started two new CFSs at Chennai (in Tamil Nadu) and Mundra (in Gujarat) ports followed by a second CFS at JNPT in the year 2012. In 2006, private equity firm New Vernon Capital Fund acquired 6.42% stake in Allcargo. In 2008, Blackstone GPV Capital Partners picked up a 6% stake in the company which was later increased to 14.99% in September 2009 by converting warrants worth USD 23 million which the global private equity fund subscribed in February 2008.
ECU Line (2005–06): Allcargo's first acquisition was of the Belgium-based ECU Line, spanning three stages from 2005-06. Allcargo acquired 33.8% stake in ECU Line in June 2005, increased its stake to 49.9% in Jan 2006 with an option to increase the stake further, and acquired the remainder in Jun 2006, making Allcargo Logistics one of the largest NVOCC in the world. ECU Line’s revenues at the time of the acquisition were 4.3 times the revenues of Allcargo Logistics.
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Wikipedia