Global container port operator COSCO Shipping Ports (CSP) has signed a cooperation memorandum of understanding (MoU) with GLP China and Eshipping Global Supply Chain Management (Shenzhen) Company to step up the development of terminal extended services and port supply chain platform.
The strategic alliance also aims to further increase the profitability of the companies.
The alliance will initially cover CSP’s terminals in China and will gradually expand to its global network.
Cosco Shipping Portsvice chairman and managing director Zhang Wei said: “CoscoShipping 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.
“By partnering with GLP and with its experiences in logistic development and operation, CSP can better utilise its existing terminals and lands outside the terminals, and create a new business model and value beyond the limits of traditional seaborne logistics.
“The team up with Eshipping, an e-commerce supply chain management platform of China Cosco Shipping, in integrating the upstream and downstream resources along the supply chain and integrated warehousing solutions etc will enhance the supply chain services of the company.”
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CSP currently operates terminals across five main port regions in China, Southeast Asia, the Middle East, Europe, and the Mediterranean.
In January, the company signed an agreement with Belgium’s Port of Zeebrugge, outlining the concession terms of CSP Zeebrugge Terminal situated at the port.
The agreement is expected to further improve the terminal services and strengthen the bilateral trade relationships between China and Belgium.