Locus granted patent for ML models predict traffic time in last-mile
This is the second patent that the company has secured in 2022. Locus announced that it has been awarded a patent for machine learning models for predicting time in traffic,” the second patent awarded to the company in 2022. Predictability of last-mile deliveries is a logistical challenge that continues to affect businesses across various sectors […]
Mahindra Logistics buys Rivigo’s B2B express biz for Rs 225cr
During FY 2021-22, Rivigo’s B2B express business reported a turnover of Rs 371.3 crore. Mahindra Logistics today announced the acquisition of the B2B express business of Rivigo for Rs 225 crore ($28 million) in cash. “Rivigo operates in two key business segments: Full Truck Load and B2B express business. During FY 2021-22, Rivigo’s B2B express […]
Maersk launches EVs in India
The deployment will be for B2B middle mile distribution; can cover a distance of around 100 km with a max 650 kg payload. In a move to decarbonise road transportation in India, Danish carrier Maersk launched electric vehicles with plans to cover 77 percent of postal codes. “With the unveiling of our electric vehicles today, […]
Lufthansa Cargo is world’s first cargo airline to use sustainable plastic film for transportation
Innovative and particularly thin plastic film with ten percent recycled material in use worldwide as of mid-September Each year, Lufthansa Cargo needs about 500 tons of plastic film worldwide to protect its freight during transport. As part of its sustainability strategy, the company has been working for many years to reduce the need for plastic […]
SpiceXpress Q1 net profit at Rs 18 crore
Net profit continues to increase QoQ despite a significant increase in ATF prices and a depreciating rupee. SpiceXpress, the cargo division of SpiceJet, reported revenue of Rs 239 crore ($29.9 million) for the first quarter ended June 30, 2022, and a net profit of Rs 18 crore ($2.3 million) despite high ATF prices. Profit margin […]
Govt working on one logistic law for all modes of transportation: Gadkari
The government is working on bringing a single logistic law for all modes of freight transportation to eradicate duplication of processes and simplify procedural requirements, Union minister Nitin Gadkari said on Friday. The Road Transport and Highways Minister further said the public-private partnership model should be encouraged for the development of air cargo infrastructure in […]
