Russia-Ukraine war disrupted air cargo and logistics industry in the new normal. Rise in air freight rates, more mother vessels sailing was expected, but due to tense conditions in East Europe, this seemed a distant vision. Better planning, optimally using space, rate will be beneficial for logistics industry, says Ravinder Katyal, Director- Air Freight, ISSGF.
Bryan Anthony Thomas
Please share megatrends for 2022, how do you intend to carry them out?
The logistics sector seems to have a great year ahead, even with increased air freight rates and increasing demand for ocean containers, I foresee a gap between demand and supply in the next few months. When curbs have been lifted and international flights resumed, the Russia-Ukraine war has come a Damocles’ sword and disrupted normalcy thereby increasing air freight rates.
What is your greatest learning during the pandemic?
Keep going and opportunities will come. We have never seen such challenging times, but in these circumstances freight forwarders and the airlines were able to cover up their losses rather in fact revenues and profits touched sky high. Newer avenues such as Pharma exports, tech and medicinal supplies and equipment took the lead. More throughput should be the mantra.
What is the one thing that needs an adjustment of request for the business to develop?
More dedicated scheduled cargo capacity to be deployed. Exports are at an all-time high. Geopolitical factors are favouring India and we must gear up to take advantage of the trade and economic drift in favour of the Asia-Pacific (APAC) region.
Going forward, which logistics sectors do you think will grow and why?
The future calls for massive exports to CIS countries and Eastern Europe to facilitate the redevelopment and restoration of war destruction. Pharma, heavy machinery, hospital supplies, paper products and perishables will grow exponentially.
How do you foresee the future of the Indian logistics industry?
Bright. The CIS business is likely to grow because of the strong relationship between India and Russia and lifting of all the global curbs give an advantage to the Indian business.
How do you look upon the challenges placed on your company? What is the vision of your company?
The air freight rates have increased four times than the previous ones, but lifting of all the COVID-19
curbs will be beneficial in balancing them. The future is based on the airfreight, I believe.
