Before diving into the specifics of the logistics industry and the questions ahead, let's first understand Triton Logistics & Maritime Pvt. Ltd. and its core operations.
Thanks, for this opportunity! But before I discuss Triton, I believe it's important to provide some background about myself to give context to what we do at Triton.
I have been in the logistics industry for 27 years, specializing in freight forwarding, logistics, and global supply chain management with end-to-end solutions. I spent 14 years working with the German firm Kuehne + Nagel, followed by six years with Bax Global, an American company. Later, I moved to Malaysia as the Country Head for Panalpina, a Swiss company, where I stayed for three years before returning to India as the Managing Director for a Belgian logistics company. My journey ultimately led me to Triton Logistics & Maritime, where I currently oversee operations.
Triton Logistics is dedicated to providing comprehensive end-to-end supply chain solutions on a global scale. Our vision is to become a solution-driven organization, where we deliver seamless logistics services from production to final consumption. This includes export, import, air freight, sea freight, warehousing, and transportation, tailored to the specific needs of industries such as automotive, pharmaceuticals, healthcare, retail, garments, and chemicals.
Triton is part of a larger group, Abrao Group, which engages in a variety of logistics-related activities. These include representation for shipping lines in India, operation of our own NVOCC (Non-Vessel Owning Common Carrier) based in Taiwan with a fleet of refrigerated and general containers, and a collaboration with a Dutch company for ISO tank operations. We also have a joint venture with a British company, Fendercare, specializing in ship-to-ship transfers within the oil and gas sector across the Indian subcontinent. Additionally, we operate our 1,700 TEUs container ship running weekly services between India (Nhava Sheva) and Dubai (Jebel Ali).
As Triton, we are the flagship company within this group, directly engaging with customers and delivering integrated logistics solutions. We leverage the synergies within the group, ensuring that services remain under one umbrella, providing our customers with greater control and cost efficiency. However, we remain flexible and open to external solutions, ensuring that we always provide the best options available in the market.
That said, how does collaboration work to your advantage?
There are several reasons why collaboration benefits us. Fifteen years ago, logistics was largely manual, with minimal real-time monitoring or visibility. Companies operated independently due to limited collaboration and transparency. However, as technology advanced, customer expectations shifted towards faster, more flexible solutions with real-time supply chain visibility. Logistics, though still lagging in tech adoption, has become more dynamic and disruptive.
At Triton, collaboration is key. Unlike larger players in the industry, which are often bound by rigid global structures, we are agile and adaptable. These larger firms often limit collaboration within their networks, constraining flexibility. In contrast, Triton partners with a variety of vendors, offering customised solutions tailored to each client's unique needs.
This adaptability gives us a competitive edge in today's volatile world, where geopolitical tensions and constant change demand flexible, tailored solutions. Our strength lies in our extensive network and ability to deliver personalized logistics services across industries like healthcare, retail, chemicals and automotive. We don't offer one-size-fits-all solutions but instead focus on sustainable, profitable solutions that meet specific customer demands. Triton's "right to win" lies in our ability to provide dynamic, customer-focused logistics solutions that keep pace with the rapidly changing industry.
But Jitendra, when it comes to the dynamism then there is a change of dynamics in sectors like manufacturing, infrastructure etc, which are also correlated with the supply chain management. So what is so exciting about the logistics sector?
The logistics sector is constantly evolving, with new challenges emerging regularly—whether in manufacturing, infrastructure, or other connected sectors. The most exciting aspect of logistics is its unpredictability—nothing is permanent. Crises like the Red Sea blockages, wars, and various economic downturns may create difficulties, but they also offer large opportunities. During the 2008 crisis, one of my previous mentor said, "Every crisis creates an opportunity." This has been true throughout my career, from the 2008 recession to the COVID-19 pandemic. Each crisis reshapes logistics, creating new avenues for growth.
At Triton, we embrace flexibility and adaptability. We understand that while a five-year vision is essential, the logistics landscape can change dramatically in just a few months. Post-pandemic logistics differ from pre-pandemic times, and ongoing geopolitical tensions continue to reshape the industry.
Challenges, such as container shortages and fluctuating rates, may complicate operations, but they also open doors. Customers who were once locked into year-long contracts are now seeking more dynamic solutions, providing Triton with opportunities to step in and offer tailored services. Our goal is to be the go-to partner for clients during these uncertain times, offering innovative solutions and staying ahead of the competition.
How's Triton adopting technology, and how you are leveraging the same for your customers?
At Triton, part of the Abrao Group, we are leveraging technology extensively, particularly in global freight forwarding. Unlike e-commerce, where technology drives everything from warehousing to last-mile delivery, the freight forwarding industry still faces significant manual tasks like container stuffing, palletizing, and customs clearance. However, we've implemented technologies that enhance efficiency and productivity driving towards complete automation.
For Triton, we adopted CargoWise, a globally recognized software for freight forwarding, used by major companies worldwide. This software streamlines our operations, sales, and customer relations. We've also customized it to integrate with our group's in-house reporting systems, ensuring seamless data flow and enhanced visibility.
CargoWise enables us to offer customers complete transparency, from shipment tracking to automated reports. Our customers can log in to our system and track their shipments, ensuring they have real-time updates. Additionally, we create comprehensive roadmaps for shipments with milestone tracking, improving customer experience and trust.
The technology we've adopted not only increases our efficiency but also reduces costs, allowing us to pass on these benefits to our customers. At Triton, our goal is to stay ahead of the curve, continuously improving through smart technology adoption to meet the dynamic needs of our clients.
Have you ever managed a large consignment or a complex project where you faced significant challenges, but still managed to deliver on time? Can you share such an experience?
In logistics, whether dealing with small shipments or major project movements, challenges are inevitable. I'll share two examples. The first is a relatively straightforward case. We had an inbound container from Korea, which arrived at Nava Sheva Port late at night. The carrier's system required a digitally signed contract to release the container. This occurred around 11:30 p.m. on a Friday evening, and the authorized signatories were not available.
So, we had to immediately open the office in the middle of the night and get this organized. Eventually, everything was signed, payments were made, and the container was cleared by midnight. This container was critical, carrying components needed for a large customer's factory operations. Without it, their entire assembly line would have come to a halt by morning. Thankfully, we managed to move the containers, but it was a nerve-wracking experience.
Now, for a more complex project. We were moving a 250-ton piece of equipment for a fertilizer company in Talcher, Odisha. The cargo had to travel by truck from Mundra to Odisha. Moving such heavy loads by road requires meticulous planning, especially given infrastructure constraints along the way. We had to conduct a route survey as we moved, encountering several challenges along the way, including small bridges that couldn't handle the full weight of the load. To prevent the bridges from collapsing, we had to ensure the truck's load was distributed carefully so that only part of the truck was on the bridge at any given time. At one point, we even had to construct a temporary road to bypass an unsuitable bridge. Despite these obstacles, we delivered the equipment on time.
Logistics constantly presents unforeseen challenges, even in air freight. In one case, we had to split a large shipment into two due to capacity issues. Since it had to be transported on a cargo aircraft, and no passenger aircraft could accommodate it, we faced significant delays and cost implications.
A classic example of the risks in logistics occurred during a project we managed in Germany. The project lead had not properly accounted for four bridges along a river route where a barge was supposed to transport the cargo. Because of this oversight, we had to use helicopters to lift the cargo over each bridge—an extremely expensive solution that wiped out a significant portion of our profits.
These experiences emphasize the importance of thorough planning and having an expert team in place. Your route survey team and solution engineering team need to be top-notch; otherwise, even small mistakes can result in significant losses.
Lastly, tell us about your plans lined up for the next five years.
The Abrao Group is evolving towards positioning itself as a global end-to-end logistics solutions provider. Triton, as one of the group's key companies, has ambitious expansion plans. Over the past year and a half, we have focused on establishing a strong presence with our customers, emphasizing tailored solutions to meet their needs.
Regarding Triton's future growth, we've engaged PwC as our consultant, and together we've developed a comprehensive five-year roadmap. This plan outlines our growth trajectory, which aims to expand Triton's operations significantly from its current scale.
In terms of financials, while I cannot disclose specific figures, we aim to transform Triton into a Rs 500 crore+ turnover company within the next three to five years. We are committed to this aggressive growth, supported by a mix of internal and external investment options, depending on our expansion strategy and market opportunities. We're flexible in exploring both organic and inorganic growth paths, whether through strategic acquisitions or partnerships.
For instance, we recently acquired a US-based company, SST International, which was part of an Australian group. This acquisition enhances our foothold in the US market, providing us with an existing customer base and operational infrastructure. We remain open to similar opportunities in other regions, such as Europe and Asia, as part of our inorganic growth strategy. However, our primary focus is balanced growth, with an emphasis on organic expansion.
Our goal is to establish Triton as a global leader in supply chain solutions, and not just a traditional freight forwarder. We are committed to offering innovative, value-added services that go beyond just pricing or credit terms. The logistics industry is rapidly evolving, and to stay competitive, we are committed to seizing opportunities as they arise. Whenever we see an opportunity, we will act decisively to secure it.