Container Corporation of India (CONCOR) on Tuesday announced it has inked a memorandum of understanding (MoU) with the Shipping Corporation of India (SCI) for seamless end-to-end logistics solution. Following the announcement, shares of CONCOR were up 4% while shares of SCI were down by 2.65%.

CONCOR and SCI have signed the MoU to collaborate on providing integrated logistics solutions and to explore the potential areas of cooperation in multimodal transportation covering the ocean, rail, road, and inland waterways for ushering port to last-mile connectivity. Both companies aim to leverage their infrastructure and experience to offer an end-to-end logistic solution to the customer under a single window.

CONCOR operates the largest fleet of container trains with a wide network of container terminals across the country. SCI operates break-bulk services, international container services, liquid and dry bulk services, offshore services, and passenger services.

Sanjay Swarup, chief managing director of CONCOR said the MoU will enable the firm to utilise SCI’s shipping services to develop CONCOR’s footprint at overseas locations and also to foray in the field of coastal and inland waterways trade to offer a wide range of customisable logistics solution for the benefit of trade at large.

In April 2024, CONCOR had signed a MoU with PSA International’s wholly-owned subsidiary, PSA MESA Supply Chain to offer seamless end-to-end logistics solutions to customers. PSA International is a global port operator. Its portfolio comprises over 60 deep-sea, rail and inland terminals, across more than 170 locations in 45 countries – including two flagship port operations in Singapore and Belgium.

Shares of CONCOR have risen by nearly 14% since the beginning of the year. The stock has gained over 47% in the last one year.