COSCO-owned Orient Overseas International Limited (OOIL) has entered into an ‘Investment and Cooperation Agreement’ with COSCO Shipping Logistics and JD Logistics.
Opened in July 2014, Eshipping is an online logistics platform also owned by COSCO, as well as OOIL subsidiary Gold Talent.
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As part of the joint-venture formation, which was agreed on March 29, 2019, Gold Talent and COSCO Shipping Logistics will transfer part of their stake to other members of the joint-venture group.
In addition to this, JD Logistics has plans to provide capital investment and logistics assets to Eshipping, helping the service to grow and develop.
COSCO and Navis Strike N4 Partnership #PTIDaily SEE MORE: https://t.co/nNlUxZiaD5@naviscargo #shipping #carriers #digitization pic.twitter.com/cYvBC48zmy
— Port Technology (PTI) (@PortTechnology) November 8, 2018
Once the transfer of equity is completed, subject to regulatory approval, JD Logistics and its affiliate organization JV ESOP will hold a 56% share in the joint-venture, while Gold Talent and COSCO Shipping Logistics will have respective stakes of 22% and 18%.
The initial registered capital of the collaborative body, which will be established in Shanghai, amounts to US$37.9 million.
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