COSCO Shipping has signed a strategic agreement with Shanghai International Port Group (SIPG) to promote common development and increase data sharing.
In a statement, the Chinese-state-owned carrier said the deal will help the two parties “strategic partnership” and encourage “common development”.
“COSCO SHIPPING and SIPG will carry out in-depth, comprehensive cooperation in data sharing and innovation, terminal investment and operations,”a statement read.
The carrier also explained the parties will cooperate on staff training, and “play an active role constructing the Shanghai International Shipping Centre, a multi-purpose commercial building project near the Port of Shanghai.
The agreement was struck at a meeting on 1 March attended by senior leaders from both companies and the Shanghai municipal government.
COSCO, the third-largest container shipping line in the world by market share, signed similar agreements with Chinese companies Shougang Group and the China National Salt Industry Group (China Salt) in December 2020 to deepen cooperation in shipping, logistics and supply chain services.
More recently, in February 2021 it signed a strategic cooperation and transportation framework agreement with China-based Midea Group to improve supply chain logistics processes.