PSTS Logistics (India) to move into coastal shipping

The east coast logistics provider has a business plan envisaging boosting turnover to INR 3bn ($73.95m) by 2012, from INR 1bn this year. To achieve this it will look to form a joint venture with an established shipping company. Joint managing director J Ganesh Ram told the Financial Express: “The service capabilities in the whole range of port logistics and the drive to grow has landed PSTS at the threshold of coastal shipping. “We will enter into it as a joint venture with an experienced player. Initially, we will go for time charter of vessels and then invest in own fleet”. Ram believes that there is big business potential in coastal shipping. PSTS provides shipping agency, stevedoring, customs clearance and freight forwarding services.