Founded in August 18th, 1993 by Mr Shashi Kiran Shetty, Allcargo Logistics Limited (formerly known as Allcargo Global Logistics Ltd) is one of the global leaders in logistics. The company operates mai
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nly into three segments i.e. (i) Multimodal Transport Operations; (ii) Container Freight Stations/ Inland Container Depots and (iii) Project and Engineering Solutions. The company is carrying out Contract Logistics business through its joint venture viz. Avvashya CCI Logistics Private Limited. Multimodal Transport Operations (MTO) segment of the company involves Non Vessel Owning Common Carrier (NVOCC) operations related to less than container load (LCL) consolidation and full container load (FCL) forwarding activities in India and across the world through overseas subsidiaries of ECU Worldwide Group. Allcargo is amongst the leading players in the global LCL consolidation market with a strong network across 160+ countries and 300+ offices covering over 4,000 port pairs across the world.
Allcargo Logistics operates India's widest and strongest network of Container Freight Stations (CFS) and Inland Container Depots (ICD). These operations cater to the handling of import and export cargo, custom clearance, warehousing and other related ancillary logistics services. The CFS/ICD facilities are strategically located near the major ports and the Indian hinterland, supporting the EXIM trade since many years. The company has CFS facilities in JNPT Nhava Sheva, Chennai, Mundra and recently commissioned a new CFS facility in Kolkata making it one of the largest CFS operators in India. The ICDs are located at Kheda and Dadri.
Allcargo Logistics operates its business model with unique synergies between its MTO and CFS segments - the company leases container space with major shipping companies for its clients in MTO segment and on the other hand, it gets clients of CFS segment from the same shipping companies.
Allcargo is also one of the pioneers and leaders in Project and Engineering services offering integrated end-to-end logistics services including transportation of over-dimensional and over-weight cargo, on-site lifting and shifting, equipment leasing and coastal shipping. The Company owns a diverse fleet of over 800 special equipments and has developed an in-house repairs and maintenance (R&M) division to efficiently manage all types of R&M of its fleet wherever deployed.
Allcargo is one of the predominant players in the contract logistics segment through its majority equity shareholding in ACCI, managing activities for key clients in Chemicals, Pharmaceutical and Food, Automotive and Engineering, E-commerce, Fashion and Retail sectors. Contract logistics segment involves activities such as designing and planning supply chains, designing facilities, warehousing, transporting and distributing goods, processing orders and collecting payments, managing inventory and also providing certain aspects of customer service. ACCI is a consolidation of three entities: the warehousing and custom clearing & freight forwarding (CCFF) division of CCI Logistics Limited, the Contract Logistics division of Allcargo Logistics Limited and CCFF division of Hindustan Cargo Limited, a wholly owned subsidiary of Allcargo Logistics. As a combined force, the company has expertise in contract logistics, warehouse management and other value-added services.
Allcargo Logistics also owns 2 ships through its wholly owned subsidiary viz. Allcargo Shipping Co. Private Limited.
Allcargo Global Logistics Ltd was incorporated on August 18, 1993 as a private limited company in the name Allcargo Movers (India) Pvt Ltd. The company commenced their operations as a shipping agency and also provided freight forwarding services. In the year 1995, they formed association with Ecu Line NV, Belgium to serve as their agents in Mumbai and New Delhi. From June 1998, they became a Multimodal Transport Operator by obtaining the licence from the Ministry of Shipping, Government of India.
In the year 2001, the company made strategic investments in Ecu Line Mauritius and Ecu Line Middle East (Dubai). They acquired 50% stake in ACM Lines (Pty) Ltd in the year 2002. In the year 2003, they entered into a JV with Transworld Logistics & Shipping Services Inc. In the year 2003, they commissioned Container Freight Stations at Koproli in Maharashtra. In the next year, they commissioned the second phase and in the year 2005, they commissioned the third phase. On December 8, 2005 the company name was changed into Allcargo Global Logistics Pvt Ltd. The company became a public limited company in the year 2006.
Allcargo acquired ECU-Line, now ECU Worldwide, a Belgium based non-vessel operating common carrier (NVOCC) in 2006. This has given Allcargo the ability to serve its customers' logistics needs across the globe.
The company successfully concluded its Initial Public Offering of the equity shares in June 2006. The issue was oversubscribed by 7.64 times and the equity shares of the company were listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited on 23 June 2006. The Initial Public Offering of equity shares of Rs. 10/- per share for cash at a premium of Rs. 665/- per share aggregating to Rs. 1,403.33 million consisted of a fresh issue of 20,79,000 equity shares constituting 10.26% of the fully diluted post issue paid up capital of the company.
In January 2007, the company acquired Hindustan Cargo Ltd from Thomas Cook India Ltd and thus they became the subsidiary of the company. On April 24, 2007 the company commenced their commercial operations in the Container Freight Stations at Chennai in Tamil Nadu and Mudra in Gujarat. The company acquired the Project and Equipment Division of Transindia Freight Services Pvt Ltd on May 2008.
The company has entered into a joint venture agreement with Container Corporation of India Limited (CONCOR), for setting up of Container Freight Station (CFS) and Inland Container Depot (ICD) at Dadri, Greater Noida in Uttar Pradesh for catering the container traffic of North India.
During the financial year ended 31 March 2014, Allcargo Logistics made two major acquisitions outside India viz. 100% stake in US based Econocaribe Consolidators and 75% stake in the Netherland- based FCL Marine Agencies. Econocaribe Consolidatores, established in 1968, is a leading Less then Container Load (LCL) consolidator (NVOCC) in the United States. With its headquarters in Miami, Florida, Econocaribe Consolidators has 9 offices in the United States and 22 receiving terminals throughout the United States and Canada, as well as partners across the world. Econocaribe Consolidators specializes in freight consolidation and Full Container Load (FCL) services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. They also offer import LCL/FCL transportation services from around the world into the United States and Puerto Rico. Ecu Line offices had been working since last 6 years in the United States, engaging Econocaribe Consolidators as its agent. This acquisition now enables Ecu Line to complete its service offerings, both in terms of global capabilities and coverage. The acquisition also increases Ecu Line's foot hold in the US market, which will facilitate growth into and out of US market and rest of the world being the largest economy in the world.FCL Marine Agencies Rotterdam is a leading neutral NVO service provider in FCL segment, operating in Europe, USA and Canada. With Ecu-Line's global leadership as a neutral LCL provider with network across 90 countries and 200 own offices globally, its acquisition of FCL Marine Agencies Rotterdam, is a step forward to consolidate its global leadership and cater to its customer's request for a neutral Full Container Load (FCL) service through its global network and benchmark services. Taking into consideration the evolving global requirements of customers, Ecu-Line has taken this step to provide them with world-class FCL services.
During the year under review, Allcargo Logistics acquired balance 40% stake in Ecu Line Australia Pty Ltd. As a result, Ecu Line Australia Pty Ltd became 100% subsidiary of Ecuhold NV. During the year under review, Allcargo Logistics acquired balance 40% stake in Ecu Line New Zealand Ltd. As a result, Ecu Line New Zealand Ltd has become 100% subsidiary of Ecuhold NV. During the year under review, Allcargo Logistics increased its stake in Translogistik Internationale Spedition GmbH, Germany to 90% by acquired additional 10% stake in the company. During the year under review, Allcargo Logistics acquired 75% stake in FCL Marine Agencies BV, Netherland. During the year under review, Allcargo Logistics acquired balance 49% stake in Ecu-Line Switzerland GmbH. As a result, Ecu-Line Switzerland GmbH became 100% subsidiary of Ecuhold NV.
During the year under review, Allcargo Logistics increased its stake to 82% in SHE Maritime Services by acquiring additional 19% stake in the company. During the year under review, Allcargo Logistics acquired 100% stake in Econocaribe Consolidators, Inc., Econoline Storage Corp. and ECI Customs Brokerage through Prism Global, LLC, the wholly owned subsidiary of Ecuhold NV.
During the year under review, Allcargo Logistics divested its stake held in Transworld Logistics & Shipping Services LLC, a joint venture company. During the year under review, Allcargo Logistics divested its stake held in Sealand Warehousing Pvt.Ltd. and Gujarat Integrated Maritime Complex Pvt.Ltd.
The Scheme of Arrangement between Allcargo Logistics, its wholly owned subsidiary MHTC Logistics Pvt. Ltd., and their respective shareholders and creditors for amalgamation of MHTC Logistics Pvt.Ltd. with Allcargo Logistics was sanctioned by the Bombay High Court vide order dated 6 December 2013. Pursuant to the said Court order, MHTC Logistics Pvt.Ltd. was amalgamated with the company with effect from 1 April 2012 (The Appointed Date). Pursuant to the Scheme of Arrangement between Allcargo Logistics, MHTC Logistics Pvt. Ltd., and their respective shareholders and creditors becoming effective, equity shares held by MHTC Logistics Pvt.Ltd. in Allcargo Logistics were cancelled.
During the financial year ended 31 March 2014, Allcargo Logistics' Multimodal Transport Operations (MTO) division clocked total volumes of 3,28,711 TEUs as against 2,84,726 TEUs for the corresponding previous period, an increase of 15%. The CFS and ICD clocked total volumes of 1,86,598 TEUs for the year ended 31 March 2014 as against 2,21,936 TEUs for the corresponding previous period.
During the financial year ended 31 March 2015, Allcargo Logistics achieved a major milestone of its mission plan of being a USD 1 billion company.
During the financial year ended 31 March 2015, Allcargo Logistics' Multimodal Transport Operations (MTO) division clocked total volumes of 4,22,200 TEUs as against 334,870 TEUs for the corresponding previous period, an increase of 26%.
The Board of Directors of Allcargo Logistics at its meeting held on 5 November 2015 recommended Bonus issue of Equity Shares of the company in the ratio of 1:1 and the same was approved by the shareholders of the company through postal ballot voting dated 23 December 2015.
The Board of Directors Allcargo Logistics at its meeting held on 13 February 2016, approved acquisition of the Container Freight Station business undertaking of Transindia Logistic Park Private Limited (wholly owned subsidiary of the Company) situated at Uran, Raigad, as a going concern on slump sale basis, subject to determination of valuation by an independent valuer and receipt of necessary statutory and regulatory approvals.
The Board of Directors Allcargo Logistics at its meeting held on 14 March 2016 in principally approved setting up of rail linked Logistics Park in the Jhajjar district of Haryana. The move is in line with the company's business expansion plan. The project will comprise of rail linked private freight terminal catering to railway cargo movement, free trade warehousing zone, domestic tariff area and other related activities over approximately 200 acres of freehold agricultural land, which is in close proximity to Dedicated Freight Corridor at Jhajjar, Haryana. The Jhajjar project will enable the company to cater needs of providing end to end logistics solutions to customers in Northern belt.
During the financial year ended 31 March 2016, Allcargo Logistics' Multimodal Transport Operations (MTO) division clocked total volumes of 3,04,756 TEUs as against 2,91,579 TEUs for the corresponding previous period, an increase of 5%.
In 2016 in a comprehensive exercise, Allcargo Logistics consolidated its global presence under the brand ECU Worldwide, with an aim of simplifying geographies with 300+ offices across 160+ countries.
In FY2016-17, Allcargo Logistics expanded and strengthened its presence in Contract logistics segment by acquiring major equity stake in Avvashya CCI Logistics Private Limited (ACCI). ACCI is one of the predominant players in Contract logistics segment managing activities for key clients in Chemicals, Auto and Engineering, Pharma, Fashion and Retail sectors. Allcargo Logistics along with its wholly owned subsidiary Hindustan Cargo Limited had transferred their contract logistics business and freight forwarding business to ACCI as a going concern on a slump sale basis for a consideration other than cash in the form of equity stake of 6.63% and 10.57%, respectively, in ACCI pursuant to the Business Transfer Agreement dated 17 June 2016 executed amongst them. The company had also acquired 43.93% equity shares in ACCI for a cash consideration of Rs 13,000 lakhs. Post this transaction, Allcargo Logistics and HCL collectively own 61.13% in ACCI with effect from 29 June 2016. ACCI is a joint venture between Hindustan Cargo Ltd., CCI Logistics Ltd. and Allcargo Logistics.
Allcargo Logistics completed acquisition of CFS business undertaking of wholly owned subsidiary Transindia Logistic Park Private Limited (TLPPL) situated at JNPT Nhava Sheva, Uran, Raigad, as a going concern on a slump sale basis for a total consideration of Rs 8,050 lakhs effective from 1 January 2017. This acquisition enabled the company to operate under single brand umbrella at JNPT, which benefits the company to operate at cost effectiveness and also ensures optimum utilization of resources.
During the year under review, the Kolkata Port Trust allotted the land to Allcargo Logistics for constructing and operating CFS. The company has started the construction of CFS and once it becomes operational, the company will have presence at eastern coast of India.
On 11 January 2017, Allcargo Logistics completed buyback of 6,400,000 equity shares of Rs 2/- each representing 2.54% of the outstanding equity shares of the company at a price of Rs 195/- per equity share for an aggregate amount of Rs 12,480 lakhs (excluding transaction cost) through tender offer mechanism. The Buyback size was 9.17% of the total fully paid up equity share capital and free reserves including securities premium as per the Audited Financial Statements of the Company for the year ended 31 March 2016.
Asia Line Limited became indirect subsidiary of Allcargo Logistics with effect from 30 March 2017. Ecu International (Asia) Private Limited became direct subsidiary of the company with effect from 31 March 2017.
During the financial year ended 31 March 2017, Allcargo Logistics' Multimodal Transport Operations (MTO) division clocked total volumes of 5,08,072 TEUs as against 4,59,746 TEUs for the corresponding previous period, an increase of 11%.
On 7 April 2017, Allcargo Logistics received approval of the Stock Exchanges viz. BSE Limited and National Stock Exchange of India Limited for reclassification of some of the promoter shareholders of the company to public shareholders category under Regulation 31A of the Listing Regulations.
Allcargo Logistics LLC, Dubai became indirect subsidiary of Allcargo Logistics with effect from 28 September 2017. The name of Allcargo Logistics's wholly owned subsidiary Ecu Line (India) Private Limited was changed to Transindia Inland Park Private Limited with effect from 30 January 2018 and was further changed to Allcargo Inland Park Private Limited with effect from 2 April 2018.
In the crane and equipment rental business, Allcargo Logistics saw a booming demand from FY2014 right up till FY2017, followed by an unprecedented dip in FY2018, due to the absence of large projects in the core sectors and more significantly, due to a huge dip in the wind sector. In FY2017-18, the wind industry witnessed a transition from the Feed-in-Tariff (FiT) to the competitive bidding regime, hence there was a significant but temporary drop in volumes, both in commissioning and allotment of new projects.
During the financial year ended 31 March 2018, Allcargo Logistics' Multimodal Transport Operations (MTO) division clocked total volumes of 591,521 TEUs as against 508, 072 TEUs for the corresponding previous period, an increase of 16%.
In FY19, the Company approved the Scheme of Amalgamation (Merger by Absorption) under Sections 230 to 232 of the Act between Allcargo Shipping Co. Private Limited (a wholly owned subsidiary of the Company) and the Company, subject to the approval of the Hon'ble National Company Law Tribunal, Mumbai Bench and other requisite approvals.
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