COSCO AND HUTCHISON E-COMMERCE ARMS FORM ALLIANCE
COSCO Network Ltd., the new e-commerce subsidiary of the China Ocean Shipping Co. group, is forming an alliance with Portsnportals.com Ltd., the e-commerce arm of Hong Kong’s Hutchison Port Holdings group.
The two electronic commerce companies said that they have signed a memorandum of understanding on a future strategic alliance to provide logistics and transportation services via internet-based online open transport exchanges.
John Meredith, group managing director of Hutchison Port Holdings, said that the alliance will utilize the companies’ IT experience and expertise in the transport industry to promote e-commerce services to the global logistics and transportation market.
Wei Jiafu, chairman of COSCO, said that the alliance would streamline “the integration of the logistics and transportation services industry.”
The services will initially cover the vertical market of the shipping industry with plans to expand to other industries, the COSCO executive said.