A senior company official of the Allcargo Global Logistics a city-based logistics major has said that the company is all set to foray into the shipping segment and offshore oilfield services within next two to three months.

Speaking on the matter to the reporters a senior company official said, "We are starting a shipping service, including offshore oil field service soon. Initially, our plan is to start with chartering vessels and gradually we will acquire our own vessels". The official however declined to divulge any details on the investments. Adding further to the matter he said, "We believe that the new vertical that we are getting into will increase our revenue margins as there is a lot of scope in this segment...

To read more on market news you can bookmark this URL:
Allcargo to enter shipping & oilfield services

Source: Dalal Street Investment Journal
www.dsij.in