Maritime trade was hit hard by the impact of the COVID-19 pandemic, however, the sector managed to navigate through the crisis. In 2021, maritime trade rebounded but faced several challenges such as the Suez Canal blockage and the Ukraine-Russia war.
Middle Eastern region has tremendous economic growth opportunities, owing to their hydrocarbon wealth, strategic location, and availability of skilled manpower. The region has witnessed a steep growth in the logistics sector through its efforts on economic diversification.
With the jinxed year of 2020 finally past us, it’s time to rejoice and look out for the interior design trends that will take over this year.
The recent COVID-19 surge has created a demand for cold chain infrastructure to be updated globally. Government policies have helped catalyze investments in the Indian cold chain sector. Increasing cross-border trade and growing organized retail industry are driving the Indian cold chain logistics market.
The government of India has recently taken several initiatives and policy decisions aimed at promoting the domestic movement of cargo utilizing Inland waterways. With the increased focus on the country’s inland waterways transport system, cargo traffic through IWT is expected to increase substantially.
If the growth potential of air freight logistics is appropriately harnessed, Indian airports can become cargo hubs of the region. To improve the airport’s efficiency, integrated development of infrastructure should be targeted with improvement in logistics and warehousing operational efficiencies.
International maritime trade lost its momentum in the years 2018 and 2019. Heightened trade tensions between China and the USA, and weaker developments in the market segments largely impacted economic and trade growth in many countries The impact of this economic slowdown was also felt in container trade globally. Global maritime trade slowdown was further worsened by the implementation of IMO 020 regulation on the use of low-sulphur fuels, and COVID 19 outbreak.
ASCELA has been closely studying the NCR region and monitoring key recent and ongoing developments. Our first-hand experience of working in Delhi NCR has helped us develop an understanding of the business potential in the logistics and warehousing sector in the region.
India has a large coastline, stretching over 7 517 km, interspersed with more than 200 ports In FY 2018-19 total throughput of Indian container terminals was registered as 17 02 MTEU against the total installed container handling capacity was at 28 65 MTEU, reflecting capacity utilization of around 59%. ASCELA, being involved in development of various ports in India, has been monitoring recent developments in maritime sector to analyze infrastructure growth opportunities to enhance cargo handling and capacity utilization of Indian ports.
North East region is strategically important as it shares an international border with countries like Bhutan, China, Myanmar, and Bangladesh Almost all land-based trade destined towards NE is facilitated through Siliguri corridor between NE region and the rest of India Moreover, ASCELA has been closely studying NE region and monitoring recent developments of NE states to analyze business potential in logistics and warehousing sector in the region.