NewPort Tank Containers and Sinochem Safe Transport said they will create a common ownership platform for combining their international, deep-sea tank container operations.
The companies have worked together since 2009 under an “operating agreement,” allowing them to operate as one company, but with two separate brands. Under the new ownership structure, the partners will create a single brand and organization worldwide to better serve global chemical and food
grade shippers.
“With the deep relationships and know-how inside China, and its breadth of service capabilities including parcel tankers, warehousing, and storage terminals, there simply is no better partner for us and our customers,” said Fred Hunger, NewPort’s founder and chairman, in a statement.
Sinochem International, a Chinese provider of chemical logistics services, gains a global presence as it expands its investment in NewPort.
The new company will operate a fleet of more than 12,000 ocean tank containers and has owned offices in China, the United States, Mexico, the Netherlands, Germany, France, Brazil, Dubai, and a recently established joint venture in Saudi Arabia.
NewPort Tank, Sinochem enter common ownership
