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COSCO – MacGregor Strike Asian Supply Chain Deal

COSCO – MacGregor Strike Asian Supply Chain Deal

COSCO, the third biggest container shipping line in the world, has signed a framework purchasing agreement with MacGregor, part of Cargotec, for MacGregor’s spare parts and service of equipment to be installed on its fleet operating worldwide.

“We are looking forward to increasing our collaboration with COSCO Shipping,” John Carnall, Senior Vice President, Global Lifecycle Support, MacGregor said in a statment

“The framework agreement provides for the scope of support services supplied to COSCO Shipping to be further enhanced, and will additionally enable more effective inventory forecasting across the fleet”.

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MacGregor’s company portfolio includes MacGregor, Hatlapa, Porsgrunn, Pusnes, Triplex and Flintstone.

MacGregor has recently completed the acquisition of the marine and offshore businesses of TTS Group ASA. The company first announced its intention to acquire the businesses back in February 2018 for an enterprise value of approximately USD $97.4 million.

PTI also recently reported on COSCO potential agreement with China Mobile to collaborate on areas including 5G, cloud computing and supply chain investment. The deal was reportedly signed in Beijing and included a letter of intent for the joint development of a 5G smart port laboratory.

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