Wednesday, May 17, 2023

Russia and Iran Sign Rail Deal for Corridor Intended to Rival Suez Canal (18 views 19 Hours ago)

 

Astara–Rasht–Qazvin railway
Transit line

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The Astara–Rasht–Qazvin railway is a transport corridor that connects existing railways of Russia, Azerbaijan and Iran. The project is carried out within the framework of the International North–South Transport Corridor. Wikipedia

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Putin notes importance of Rasht-Astara railway project for ...

TASS
https://tass.com › economy
21 hours ago — Some 170 km long, the Rasht-Astara line is designed to link land sections of the International North-South Transport Corridor, which will boost ...

Russia and Iran sign Rasht-Astara railway deal

The National News
https://www.thenationalnews.com › world › 2023/05/17
22 hours ago — The Rasht-Astara railway is seen as an important link in the corridor, intended to connect India, Iran, Russia, Azerbaijan and other countries ...

Russia and Iran sign rail deal for corridor intended to rival ...

Reuters
https://www.reuters.com › world › russias-putin-irans-rai...
22 hours ago — The Rasht-Astara railway is seen as an important link in the corridor, intended to connect India, Iran, Russia, Azerbaijan and other ...

Iran, Russia sign $1.6bn contract to build Rasht-Astara ...

irna.ir
https://en.irna.ir › news › Iran-Russia-sign-1-6bn-cont...
24 hours ago — Tehran, IRNA – Islamic Republic of Iran and Russia have signed an agreement worth $1.6 billion to build the Rasht-Astara railway, ...

Agreement on completing Rasht-Astara railway inked by ...

Tehran Times
https://www.tehrantimes.com › news › Agreement-on-...
23 hours ago — TEHRAN - An agreement for the construction of Iran's Rasht-Astara railway was signed on Wednesday between the Islamic Republic of Iran and ...

Russia, Iran sign railway deal intended to rival Suez Canal as major trade route

Russian President Vladimir Putin meets with his Iranian counterpart Ebrahim Raisi on the sidelines of the Shanghai Cooperation Organisation (SCO) leaders’ summit in Samarkand on September 15, 2022. (AFP)
Russian President Vladimir Putin meets with his Iranian counterpart Ebrahim Raisi on the sidelines of the Shanghai Cooperation Organization (SCO) leaders’ summit in Samarkand on September 15, 2022. (AFP)

"Russian President Vladimir Putin and his Iranian counterpart Ebrahim Raisi on Wednesday oversaw, via video-link, the signing of a deal to finance and build an Iranian railway line as part of an embryonic international North–South Transport Corridor.

The Rasht-Astara railway is seen as an important link in the corridor, intended to connect India, Iran, Russia, Azerbaijan and other countries via railways and sea - a route that Russia says can rival the Suez Canal as a major global trade route.

“The unique North-South transport artery, of which the Rasht-Astara railway will become a part, will help to significantly diversify global traffic flows,” Putin said.

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He also said the 162 km (100 mile) railway along the Caspian Sea coast would help to connect Russian ports on the Baltic Sea with Iranian ports in the Indian Ocean and the Gulf.

“Without a doubt, this agreement is an important and strategic step in the direction of cooperation between Tehran and Moscow,” Raisi said.

Russia and Iran have been pushed to strengthen their political and economic ties by Western economic sanctions on each, which both say are unjustified.

Since the 1979 Islamic Revolution that swept US-backed Shah Mohammad Reza Pahlavi from power, Iran has been ostracized by the West and its economy crippled by a myriad of sanctions. It holds around a quarter of the Middle East’s oil reserves.

The West also imposed other set of restrictions over Iran’s nuclear program, while Russia was sanctioned due to its actions in Ukraine."

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DSV Snaps up Arizona trucking, logistics companies...Transactions also fit with DSV’s (DXE: DSV) recent decision to lease a hangar at Phoenix-Mesa Gateway Airport to support all-cargo private charter flights.

DSV snaps up Arizona trucking, logistics companies

Outsourced logistics provider gears up to serve semiconductor, EV industries

Eric Kulisch
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 DSV is one of the largest contract logistics and international freight management companies in the world. (Photo: DSV)
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"DSV A/S, the third-largest global logistics provider by revenue, announced plans Tuesday to acquire two Arizona-based logistics companies owned by the same family to support its new market focus on the semiconductor industry and cross-border services to Mexico and Latin America.

The Danish transport and logistics company said it reached an agreement to take over S&M Moving Systems West and Global Diversity Logistics (GDL). Both companies are located in the Phoenix area and have 130 total employees. They provide domestic trucking, air and ocean forwarding, warehousing, trade show logistics and special services for the semiconductor industry at 11 sites in California, Oregon and Arizona.

S&M Moving Systems is an asset-based household goods and specialized transportation carrier that moves electronics, medical and manufacturing equipment, artwork and other commercial items. GDL is a non-asset based 3PL.

The transactions, which are expected to be finalized in April, also fit with DSV’s (DXE: DSV) recent decision to lease a hangar at Phoenix-Mesa Gateway Airport to support all-cargo charter flights.

“We have a strong presence in the U.S., and these acquisitions underline our continuous commitment to strengthening our U.S. position, competencies and service offerings,” said Niels Larsen, president DSV Air & Sea U.S., in a news release. “They also provide access to a strong heritage and a wealth of knowledge and experience in the semiconductor industry.” 

Large outsourced logistics providers have identified the semiconductor industry as a large growth opportunity, especially as governments and manufacturers invest in massive fabrication facilities to keep up with demand and spread risk in a business where production is currently very concentrated.


S&M Moving Systems and Global Diversity Logistics have more than 1 million square feet of logistics space under management and will contribute to DSV’s contract logistics capabilities in the region.



Kuehne+Nagel, the world’s largest logistics provider, recently declared it will invest $500 million by 2026 to grow capabilities for supporting the semiconductor sector.

Arizona’s emergence as a manufacturing hub for electric vehicles and batteries, as well as a growing market for EVs, also offers logistics opportunities for DSV. 

DSV executives said having a freight forwarding base in Arizona gives the company another location for arranging freight moves between the U.S. and Latin America, supplementing a recent expansion of cross-border Mexico operations.

“With two official gateways into Latin America, we are better placed to support customer needs, particularly during busy periods and congestion,” said Robert Greene, executive vice president DSV Road U.S.

Terms of the deal were not disclosed. 

DSV’s 2022 adjusted operating profit increased 48% to $3.6 billion in 2022 on revenue of $33.8 billion (up 29%) year over year, although results were significantly weaker in the fourth quarter as the overall logistics market slumped.

DSV last year acquired Agility GIL, a major contract logistics company based in Kuwait, and the company remains on the lookout for mergers and acquisitions.

Click here for more FreightWaves/American Shipper stories by Eric Kulisch.

Maersk Air Cargo unveils Denmark-to-China freighter service 

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