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Cosco, SIPG and Anji form auto transport joint venture
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Posttime:2022-07-27
Cosco Shipping Specialized Carriers has inked agreement with Shanghai International Ports’ logistics unit SIPG Logistics and auto company SAIC Motor’s Anji Logistics to set up automobile supply chain company.
Katherine Si | Jul 26, 2022
Established by shipping and logistics service provider and automobile manufacturer, the joint venture will effectively integrate resources from related sectors and strengthen the cooperation among owners, shippers, shipping and port companies, according to Cosco Shipping Specialized Carriers.
The jv will provide aims to provide a stable supply chain service for car export of China, as well as global automobile transportation market.
Related: Anji Logistics to build three car carriers at Jiangnan Shipyard
Cosco Shipping Specialized Carriers, SIPG Logistics and Anji Logistics will hold 42.5%, 37.5% and 20% stakes in the new jv respectively.
After the foundation of the jv, it will purchase or charter car carriers from Cosco Shipping Specialized Carriers and will progressively expand fleet size via building, purchase or chartering more vessels
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