COSCO Shipping Lines, the world’s third largest ocean carrier, has signed a Memorandum of Understanding (MoU) with Bolloré Logistics to densify the two companies’ commercial relations.
Signed on January 29, 2019, the agreement will see both parties explore new opportunities for cooperation in the sectors of transport, logistics and port infrastructure.
A key area of commercial collaboration for the partners, according to COSCO, is the digitization of their respective activities and services.
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Both companies want to “intensify international flows” of cargo, especially in Africa where Bolloré has experience, a large network of maritime agencies, and expertise in corridor management.
Wang Haimin, Managing Director of COSCO Shipping Lines, has thanked Bolloré for their support, underlining the carrier’s successful collaboration with the logistics firm over the last 20 years.
Speaking about the latest MoU, Haimin said: “The new agreement has significant meaning to both of the two companies to further develop global business.”
2018 Ends with Moderate but Sustained #Cargo Growth — The final quarter of 2018 featured slowing yet continued growth in cargo activity, which is likely to carry into 2019 despite questions surrounding #globaltrade. Read @BolloreLog’ full LIVE article: https://t.co/e4JBps1rg9 pic.twitter.com/2Uu9NgGDMj
— Bolloré Logistics (@BolloreLog) February 15, 2019
Cyrille Bolloré, CEO of Bolloré Transport & Logistics, added: “This new agreement signed with Cosco Shipping Lines is the result of our common desire to develop synergies between our businesses.
“It also illustrates our ambition to continue the development of our international network by promoting cooperation with strategic partners, recognised for their excellence and performance.”