Further, the company will also seek shareholders approval to raise US$ 70 million through various options including Global Depository Receipts (GDR) or / American Depository Receipts (ADR), QIP / QIB, FCCB.

State-owned Shipping Corp. of India Ltd (SCI) and Shipping Corp. of South Africa have begun discussions on setting up a joint venture shipping company, two persons briefed on the matter said.

National carrier Shipping Corporation of India (SCI) has joined hands with another state-run enterprise, Steel Authority of India Ltd (SAIL) in the setting up of a joint venture that will provide shipping-related services.

Leading container-shipping lines have posted huge losses in 2009 as market contracted for the first time since containerization went global in the 1970s, while capacity grew as new ships, ordered during boom years, came into service.

Transport Corporation of India Ltd (TCI) has announced that the Company has since acquired 10,20,000 equity shares of Rs. 10/- each at par value representing 51% equity stake in a JV Company, viz., Infinite Logistics Solutions Pvt. Ltd. (ILSPL). The remaining 49% equity stake has been held by M/s. Container Corporation of India Ltd. (CONCOR), a Govt. of India Undertaking under Ministry of Railways. With this, ILSPL has become a subsidiary of the Company.

Package delivery company FedEx Corp opened six new freight forwarding offices, including its first two in India, as part of an “aggressive” expansion of its Trade Networks segment.

Neither GoCargo nor Kingfisher Xpress are pure cargo offerings; their business model is built around delivering cargo that is carried on the same planes on which they ferry passengersP.R. SanjaiMumbai: Jet Airways (India) Ltd, which runs India’s largest airline, is in initial discussions with FedEx Corp. for a dedicated cargo airline that it wishes to set up either as a joint venture or in alliance with the multinational logistics firm, according to an independent consultant as well as two executives of the airline familiar with the development.

Essar Shipping Ports & Logistics Ltd. is looking to develop and operate new ports in India and other countries as it expects the segment to contribute the largest share to its revenue by 2014, a senior company executive said.

Blue Dart Express announced a phenomenal rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 70.19% to Rs 211.20 million from Rs 124.10 million in the same quarter last year.

National carrier Air India has been awarded the “Emerging Freighter Services of the Year”– an international award for excellence in air cargo. The airline has developed dedicated freighter services in the country.