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S J Logistics Partners with Eikovivify for Container Management Service Agreement
Team Finance Saathi
18/Dec/2024
What's covered under the Article:
- S J Logistics and Eikovivify Agreement: Details of a Rs. 65 Crores agreement for container management services, including 2500 containers for NVOCC operations.
- Business Expansion: Eikovivify's support in sourcing and managing containers for both domestic and international cargo needs.
- Service Terms: A 5-year contract with potential renewal, aiming to enhance logistics capabilities.
S J Logistics (India) Limited, a prominent player in the logistics sector, has entered into a strategic partnership with Eikovivify Logistics Private Limited (a subsidiary of Eiko LifeSciences Ltd), marking a significant milestone in its container management services. This collaboration, valued at Rs. 65 Crores, will focus on the facilitation and management of approximately 2500 containers (TUEs) across different sizes and dimensions. The agreement, spanning 5 years, includes an option for extension, reflecting the growing demand for efficient container operations in the logistics industry.
The core objective of this Container Service Management Agreement is to bolster S J Logistics' Non-Vessel Operating Common Carrier (NVOCC) division by improving its container sourcing capabilities, both for domestic and international cargo requirements. Eikovivify will offer comprehensive maintenance and management services to ensure smooth operations, further extending S J Logistics' logistical reach. Additionally, the partnership involves the leasing of water transport equipment and various movable assets, providing flexibility to S J Logistics and their operations.
The agreement is set to bring notable operational benefits, as Eikovivify plans to equip S J Logistics with diverse and efficiently managed container resources, allowing the latter to meet growing demand and enhance its service offering. With no related party transactions involved, the agreement was negotiated at "arm's length" terms, ensuring transparency and a fair deal for both parties. Eikovivify, a subsidiary of Eiko LifeSciences, has recently expanded its operations into the container management space, leveraging its industry expertise to support various sectors' logistics needs.
This agreement underscores the commitment of S J Logistics to strengthen its position in the logistics sector and provide world-class logistics solutions to its clients. The collaboration is expected to significantly enhance the company’s ability to manage its growing operational demands and provide comprehensive support to industries requiring reliable and efficient container management services.
S J Logistics’ strategic move aligns with its goal to offer seamless and scalable logistics solutions, catering to a wide range of industries. As the partnership progresses, the company aims to streamline its operations, optimize container management, and expand its service offerings for clients across multiple regions.
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