COSCO ENTERS THE LOGISTICS MARKET
The China Ocean Shipping Co. group has set up a new logistics arm, COSCO Logistics Co., Ltd., and entered the logistics market. COSCO Logistics officially started its activities in China today (Jan. 8).
COSCO said that the establishment of COSCO Logistics aims “to meet the challenges of China’s entry into the World Trade Organization and help carry out COSCO’s strategic plans of becoming a global logistics service provider from (its) current status of one of the major global carriers.”
Most large shipping lines have set up logistics arms, such as Maersk Logistics, APL Logistics and MOL Logistics.
The newly-established COSCO Logistics consists of eight subsidiaries in China, based in Dalian, Beijing, Qingdao, Shanghai, Ningbo, Xiamen, Guangzhou and Wuhan.
COSCO said that its new logistics business has Internet platforms called “On-line Inventory Management Information System,” “On-line Road Transportation System,” “On-line Space-booking System” and “On-line Settlement System.”
COSCO Logistics is targeting customers in China and abroad in a variety of fields, including logistics services, international shipping agency, international multimodal transportation service, freight forwarding, road transportation service, air transportation service, rail service, terminal operation management, storage and distribution operation, less-than-containerload service, project development and management, and chartering.