SITC International has signed a strategic cooperation agreement with Qingdao Port to further strengthen business in the port and logistics market.

As part of the agreement, Qingdao Port will support SITC’s provision of ‘high-frequency, high-density’ sea freight logistics services, and SITC will treat Port of Qingdao as its preferred choice for container loading and unloading.

This five-year deal will also allow the firms to collaborate on terminal, logistics and infrastructure investments and operations in South East Asia and mainland China.

"This five-year deal will also allow the firms to collaborate on…investments and operations in South East Asia and mainland China."

Moreover, the companies will cooperate to find additional projects both overseas and in domestic logistics markets, including ports and inland container depot and warehouse, shipping agency and extension services, and port-related ancillary services.

SITC board chairman and executive director Yang Shaopeng said: "Signing of this strategic cooperation agreement will enable ourselves and Qingdao Port International to leverage our respective strengths, resources and expertise and provide value-added services to customers, which will be beneficial to business development of SITC and Qingdao Port International."

Primary operator of the port, Qingdao Port International, currently operates four port areas in the region.

The company is mostly engaged in handling a range of cargoes, such as containers, metal ore, coal and oil, as well as provision of logistics and port value-added work, port ancillary support and financial services.

Image: Officials of SITC and Qingdao Port. Photo: courtesy of SITC International Holdings.