2GO Group, Inc. said it has started servicing pharmaceutical and e-commerce companies with its “alternative to air freight” called 2GO CabinCargo.
“2GO CabinCargo has successfully serviced important products and documents and is currently being used by pharmaceutical and e-commerce companies, as well as businesses carrying health and beauty products,” the company said in a statement.
The company noted the supply chain of products that normally go on air freight have been disrupted by the global health crisis.
“It led to a gap in transporting essential goods, such as pharmaceutical products and personal protective equipment,” it said.
The company’s new service, 2GO CabinCargo, delivers to consumers in the key ports of the Visayas and Mindanao “within five days.”
“With this option, shippers can simply adjust their supply chain by a couple of days and reestablish their product flow,” it said.
A 2GO CabinCargo vessel has a maximum capacity of 14cbm, equivalent to a 10-footer container.
2GO said vessels it uses for the service can accommodate up to 164 boxes, with each box allowed to weigh up to 25 kilograms.
2GO operates as an integrated transportation and logistics provider.
Among its units are 2GO Sea Solutions, 2GO Special Containers, 2GO Logistics, 2GO Distribution, and 2GO Express.
2GO’s total revenue for the first nine months of 2020 stood at P13.69 billion, 15.6% lower than the amount reported in the same period in 2019.
The company saw its nine-month shipping revenues drop 45.1% to P3.06 billion. Revenues from logistics and other services went down 14.5% to P4.29 billion, while the goods segment generated P6.33 billion, 12.7% higher than the previous year’s figure.
2GO Group shares closed 0.95% higher at P8.48 apiece on Wednesday. — Arjay L. Balinbin