COSCO AND NYK MAKE PACT ON LOGISTICS COOPERATION

COSCO AND NYK MAKE PACT ON LOGISTICS COOPERATION    China Ocean Shipping (Group) Company and NYK Line have announced an agreement to establish a partner relationship with regard to logistics services.
   The cooperation is designed to “materialize further mutual development in the logistics business field,” COSCO and NYK said in a joint statement.
   The collaboration between COSCO and NYK will deal with logistics service in and outside China, including in Japan.
   It will cover staff training and other business aspects in the logistics field.
   Through the partner relationship, COSCO and NYK said that they believe each company will “subsequently be able to further improve its service network and quality.”
   COSCO recently set up a logistics arm, COSCO Logistics Co., Ltd., that officially started its activities in China on Jan. 8.