Major container port operator COSCO Shipping Ports Limited signed a cooperation memorandum of understanding (MoU) with GLP China Holdings Limited (GLP) and Eshipping, the e-commerce supply chain management platform of COSCO Shipping, to form strategic partnership. Cooperation of the three parties will begin in China at CSP’s terminals and gradually expand into its global network.
Mr. HUANG Xiaowen, Deputy General Manager of China COSCO Shipping Corporation and Chairman of COSCO SHIPPING Ports and Chairman of Eshipping, said:
The Development of terminal extended services and port supply chain platform will be a new growth driver for COSCO Shipping Ports and the Company will put great effort in it… We believe by integrating the complementary synergies within China COSCO Shipping and the strengths and resources of external leading corporations, should help speed up the market development and provide clients with more effective and high efficient full supply chain services by forming a seamless connection of “sea”, “terminal and terminal extended area” and “supply chain services”.
As explained by Mr. ZHANG Wei, Vice Chairman and Managing Director of COSCO Shipping Ports, the partnership of with GLP will enable COSCO Shipping to better utilize its existing terminals and lands outside the terminals, and create a new business model and value beyond the limits of traditional seaborne logistics. At the same time, the cooperation with Eshipping in integrating the upstream and downstream resources along the supply chain and integrated warehousing solutions etc. is expected to enhance the supply chain services of the Company.
COSCO Shipping Ports is diversifying its business to further enhance its profitability by shifting from relying on traditional organic growth to more innovative inorganic growth; and moving from focusing on terminal resources control to comprehensive deployment of port resources.
Ms. Teresa ZHUGE, Vice Chairman of GLP China, added:
The creation of this strategic platform will enhance our cooperation in development and operation of port and logistics infrastructure as well as integrated supply chain solution. This partnership leverages all three parties’ strengths, enhancing the logistics ecosystem.
