Allcargo Logistics Ltd, part of forex cargo forwarder Avvashya Group, is a logistics firm headquartered in India. 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. Allcargo’s first acquisition was of the Belgium-based ECU Line, spanning three stages from 2005-06. ECU Line in June 2005, increased its stake to 49. 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. A former subsidiary of travel and forex major Thomas Cook, Hindustan Cargo is predominantly engaged in air freight forwarding and custom clearance. The company was acquired by Allcargo Logistics in 2006 for an undisclosed amount. MHTC Logistics Private Limited, engaged in project logistics and freight forwarding.
Allcargo through its wholly owned subsidiary, ECU-LINE acquired Econocaribe Consolidators, a US based logistics company. Econocaribe specializes in freight consolidation and FCL services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. FCL transportation services from around the world to the United States and Puerto Rico. Allcargo Logistics through its step down wholly owned subsidiary company Ecuhold NV acquired majority stake in FCL Marine Agencies Rotterdam, a Netherlands-based Logistics company. Initially Allcargo entered the business of LCL consolidation as agents of ECU Line.
The service also includes a fleet of over 1,000 equipment and specialized vehicles. The firm owns three ships:, all registered in India . A privately held Dutch company founded in 1973 specializing in the hoisting and transportation of heavy objects over water and roads, Mammoet currently has approximately 3,200 employees worldwide, of which over 850 are employed in The Netherlands. The German, Hamburg headquartered, global specialist in transport of heavy-lift, project and break-bulk cargoes through oceans, Hansa Heavy Lift GmbH, currently operates 21 multipurpose heavy-lift freighters – the largest fleet in the heavy-lift and project market globally. Allcargo Logistics Ltd represents Hansa Heavy Lift as their exclusive agent across India. As on 31 March 2013, promoter and promoter group hold nearly 72.
Private equity firms Blackstone, New Vernon and Acacia Partners hold approximately 14. The rest is held by a mix of foreign corporate bodies, domestic corporate bodies and general public. Import Services from Air Freight Forwarder in Vietnam”. Riding the tide: The Shettys of Allcargo – Business Today- Business News”. Allcargo Global to demerge two business divisions, buy new vessels – timesofindia-economictimes”. Allcargo Global Logistics acquires two Hong Kong firms”. Allcargo Global Logistics to demerge two business units”.
Allcargo Logistics to demerge project division of MHTC Logistics – Yahoo India Finance”. Allcargo Logistics’ board approves merger of MHTC Logistics”. Allcargo Logistics buys US firm Econocaribe Consolidators”. Allcargo Logistics acquires majority stake in FCL Marine Agencies Rotterdam”. Best Multimodal Transport Operators in India”. Container Freight Station Facility in Chennai”. Allcargo to set up rail terminal in Hyderabad – timesofindia-economictimes”.