Recessionary winds blowing across the globe have directed overseas shipping and logistic companies to sail on the Indian shores sensing a business opportunity in midst of a slowdown.
In the past two months, at least three international shipping companies have entered India to tap the market in the country. Even the existing overseas companies, which had set up their base in India, are now planning to expand their services.
Doehle Danautic Logistics
Doehle Danautic Logistics, part of the Hamburg-based Peter Doehle Group, has started its Indian operations in March. The German company operates a fleet of over 460 vessels including container, bulk and multi-purpose vessels.
The Doehle Danautic Logistics Director, Mr Aun Aejaz, said the Indian domestic market has hardly been affected compared to the situation worldwide.
“There are more business prospects here. We expect to be handling over 60,000 TEUS (20-feet equivalent unit, is an approximate unit, to measure cargo capacity container ships) and over one million tonne of bulk cargo within the next five years,” Mr Aejaz told Business Line.
Currently, DDL is handling bulk and container cargo for large importers and exporters of minerals ores in India and is also in talks with importers of wood pulp for the paper industry.
DDL will also enter into coastal shipping, project cargo, bulk handling and custom broking in near future, Mr Aejaz said.
Ahlers
The Antwerp-based Ahlers, international logistic and maritime service which just completed five years of their operation here, is looking at an aggressive expansion strategy.
“Despite the slowdown in the economy, we have been able to attract new customers and grow at 20 per cent,” said Mr Shibhu John, Managing Director, Ahlers India. The company will be soon opening offices in Jamshedpur, Ludhaiana and Ahmedabad
Hoegh Autoliners
The Norway-based Hoegh Autoliners, in which AP Moller–Maersk has 37.5 per cent stake, is also close to opening their office in India. Sources in the industry said that, the vehicle transportation firm would be commencing their services in mid of June and plan to make India as their South Asian base.
Even AET Tanker Holding Sdn Bhd, which is a part of a petroleum shipping arm of Malayasia’s state-run shipping firm, has opened a ship management office in Gurgaon.
According to a media report, the company will open its ship owning subsidiary in India in a few days.
Mr Rajeev Kashikar, Managing Director with Konig and Cie Asia Advisors Pvt Ltd, an investment bank with interests in shipping said, in the current environment, all foreign companies are trying to increase their capacity and trade.
“When the industry is reeling under pressure, the queuing up of foreign entities clearly indicate that India is in better position in global maritime industry,” he added.
Source : Business Line