Surge in demand for logistics, E - Commerce

THE e-commerce boom in the wake of Covid-19 has spiked demand for express delivery and warehouse space, fuelling bottom lines of logistics companies and driving expansions.

A case in point is Tasco Bhd, which closed its financial year ended March 31,2021 (FY21) with record-high profitability that rose four times to RM41.27mil.

As Covid-19 forced people to stay at home, one of the main challenges for businesses wanting to take advantage of e-commerce is finding ways to fulfill orders more quickly. With supply chains disrupted, one way out for businesses was stocking goods ahead of time, says Tasco group chief executive officer, Andy Lee Wan Kai.

“We have witnessed a surge in demand in all our business segments, but especially in international airfreight and sea freight segments, as well as our contract logistics business."

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Ease in customs clearance of medical equipment to allow faster delivery: Logistics companies

MUMBAI: The recent steps taken by the CBIC for customs clearance of emergency medical equipment will help logistics companies in faster delivery of the consignments amid a huge surge in imports of coronavirus-related emergency products, according to the logistics industry.

The Central Board of Indirect Taxes and Customs (CBIC), through a notification, recently provided clarity besides further simplifying procedures for clearances of certain items.

The CBIC has also waived off basic customs duty for critically required oxygen concentrators amid an acute shortage of medical oxygen in the country.

This will will enable express and logistic companies to speed up clearances for emergency medical equipment — and help bring pandemic spread under control, DHL Express said.

DHL Express Senior Vice-President R S Subramanian said, "Due to COVID-19 and the new lockdown protocols on social distancing most of us including Customs are forced to operate with reduced manpower.

" He added that at this time, there is a need to ensure that shipments for supporting COVID-19 treatment like oxygen concentrators, medicines and other equipment are cleared and delivered without delay.

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Global Warehousing Logistic Services Market 2021 Future Trends
The new research report entitled Global Warehousing Logistic Services Market 2021 by Company, Regions, Type and Application, Forecast to 2026 published by MarketandResearch.biz evaluates key factors including industry by size, growth rate, key players, regions, product types & applications. The report elaborates current scenario and forecast of the global Warehousing Logistic Services industry. The report contains a comprehensive assessment of the most important market dynamics. The report has conducted thorough research on the historical as well as current growth parameters of the market has provided growth prospects of the market with maximum precision. There are four important segments-product types, indication, distribution channel, and region. Growth parameters associated with these categories are also included in the report.

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