Chairman's Message

I am sure we are all aware of the global crises, leading to a tremendous drop in the export and import trade. The ships are going very light and the carriers are dropping the freight levels every day.

The same scenario exists in the consolidation market. With lesser volumes at the disposal, small nvocc operators are finding it difficult to keep many of their direct services operational.

I guess this would lead to more usage of transhipment ports such as Singapore and Dubai in the near future. With the strong network we have, all of us have the possibility to excel in our respective areas. While most of our competitors have started losing volumes, we see a great opportunity in this subdued market.

The positive side of the tough times is that customers are not comfortable in dealing with the small operators and in the last month we have seen additions to our clients list, as the customers prefer to deal with the operators who have a solid network and goodwill. In this group, we have quite a few partners, who are doing extremely well in their respective areas, so lets brush aside the talks of the trade and get into a positive frame of mind, which will help us to do well and lead the table in the areas we operate.

Makarand Pradhan

Group Chairman

Dec 2008