COSCO Shipping has joined forces with China-based Midea Group to build a new digital supply chain ecosystem.
The two parties have already had a good long-term relationship as they previously signed a strategic cooperation and transportation agreement to improve supply chain processes in February 2021.
Following a separate agreement signed in January 2021, both companies are now working together on building a new, high-level supply chain cooperation ecosystem under strategic framework.
“Through the cooperation with COSCO Shipping, we became aware that the relationship between foreign traders and shippers can’t be simply defined as one between suppliers and customers. Instead, they are important ecosystem partners which can focus on the long-term benefits and work together to build a stable global supply chain system,” said Ms Bin Li, President of Midea International Logistics.
After the signing of the cooperation agreement, COSCO Shipping Lines immediately launched a completely customised service project for the Midea Group in order to develop a total solution of maritime logistics based on the customers’ needs.
Currently, both parties have said they have realised multi-dimensional collaboration in terms of workforce, solution, process, and information, with the new digital supply chain operation ecosystem gradually taking shape.
During the 4th International Import Expo (CIIE) at the National Exhibition and Convention Center (NECC) in Shanghai, COSCO Shipping signed a number of procurement agreements with several of its suppliers from Japan and Singapore.
The expo saw China Marine Bunker Supply Company (CHIMBUSCO) sign bunker fuel oil procurement agreements, COSCO Shipping Trading sign a petroleum asphalt procurement agreement and Nantong COSCO KHI Ship Engineering Co. Ltd (NACKS) sign ship equipment and ship plates procurement agreements with its suppliers.