GLP establishes partnership with China International Marine Containers

Singapore-based provider of logistics facilities, GLP, signed a strategic cooperation framework agreement Thursday with China International Marine Containers.    GLP, a Singapore-based provider of logistics facilities, signed a strategic cooperation framework agreement with China International Marine Containers (CIMC) on Thursday to develop integrated logistics facilities and solutions, the company’s both announced.
   Under the agreement, GLP may also assist CIMC in planning, re-developing and managing their existing logistics facilities, GLP said.
   Shenzhen-based CIMC is largest manufacturer of shipping containers worldwide. Just last month, the company issued a profit warning to investors, saying it is projecting a loss of 450 million yuan renminbi (U.S. $67.7 million, based on today’s exchange rate) for the first half of 2016, resulting from the slowdown in global trade, which has diminished demand for new containers, and increased currency exchange volatility, CIMC said.
   The company typically issues its official interim report in September of each year.
   “CIMC and GLP share a common commitment to advance the logistics and distribution infrastructure system in china, CIMC President and CEO Boliang Mai said. “With our combined strengths and resources, we are confident that we can provide solutions that enhance efficiency and ultimately deliver greater value to all stakeholders.”