Indian-owned shipping firm rebrands itself

PTI

An Indian-owned shipping firm has rebranded itself as an integrated service provider in a bid to change the perception of the company from offering end-to-end and value-added services. 

The rebranding of ECU-LINE to ECU Worldwide was launched on Monday, eyeing the group revenue target of USD 2 billion by 2020, with an aim to change the perception of the company from being just a shipping line player to an integrated logistics solution provider, company officials have said here. 

"We are executing a number of product strategies as part of our growth plan to be a USD 2 billion revenue generating group with global group by 2020," said Uday Shetty, ECU Worldwide's Chief Executive for Asia Pacific and Japan. 

"The market potential is high, especially with India becoming the world's largest destination for imports ranging from products, solutions and innovations to heavyweight plants for industrial sector. 

"The markets have always been challenging, though the slowdown of global economies in recent years have added more margin pressure on most business segments," Shetty said. 

Allcargo and ECU Worldwide are part of The Avvashya Group, headquartered in Mumbai. ECU Worldwide has grown significantly over the decade with the acquisition of Europe's ECU-Line in 2006 by Allcargo and two Non-Vessel Operating Common Carriers (NVOCC) from China in 2010. 

Currently, ECU Worldwide has a 15 per cent compounded annual growth rate in Asia-Pacific. 

The Avvashya Group, including ECU Worldwide, has over 300 offices in more than 160 countries.