• DATVF.ATLPHL
    1.795
    -0.005
    -0.3%
  • DATVF.CHIATL
    1.738
    0.070
    4.2%
  • DATVF.DALLAX
    1.102
    0.028
    2.6%
  • DATVF.LAXDAL
    1.495
    -0.012
    -0.8%
  • DATVF.SEALAX
    0.835
    0.053
    6.8%
  • DATVF.PHLCHI
    0.975
    0.049
    5.3%
  • DATVF.LAXSEA
    2.250
    0.072
    3.3%
  • DATVF.VEU
    1.503
    0.038
    2.6%
  • DATVF.VNU
    1.448
    0.036
    2.5%
  • DATVF.VSU
    1.299
    0.009
    0.7%
  • DATVF.VWU
    1.542
    0.062
    4.2%
  • ITVI.USA
    10,149.240
    -70.640
    -0.7%
  • OTRI.USA
    3.780
    -0.080
    -2.1%
  • OTVI.USA
    10,139.180
    -75.530
    -0.7%
  • TLT.USA
    2.500
    0.000
    0%
  • WAIT.USA
    151.000
    5.000
    3.4%
  • DATVF.ATLPHL
    1.795
    -0.005
    -0.3%
  • DATVF.CHIATL
    1.738
    0.070
    4.2%
  • DATVF.DALLAX
    1.102
    0.028
    2.6%
  • DATVF.LAXDAL
    1.495
    -0.012
    -0.8%
  • DATVF.SEALAX
    0.835
    0.053
    6.8%
  • DATVF.PHLCHI
    0.975
    0.049
    5.3%
  • DATVF.LAXSEA
    2.250
    0.072
    3.3%
  • DATVF.VEU
    1.503
    0.038
    2.6%
  • DATVF.VNU
    1.448
    0.036
    2.5%
  • DATVF.VSU
    1.299
    0.009
    0.7%
  • DATVF.VWU
    1.542
    0.062
    4.2%
  • ITVI.USA
    10,149.240
    -70.640
    -0.7%
  • OTRI.USA
    3.780
    -0.080
    -2.1%
  • OTVI.USA
    10,139.180
    -75.530
    -0.7%
  • TLT.USA
    2.500
    0.000
    0%
  • WAIT.USA
    151.000
    5.000
    3.4%
American ShipperShipping

OOIL, COSCO, JD Logistics form joint venture

The joint venture, which will be established in Shanghai with an initial investment of $38 million, will invest in online logistics platform E-Shipping.

   Gold Talent, a subsidiary of Orient Overseas International Ltd., COSCO Shipping Logistics and JD Logistics, entered into an investment and cooperation agreement on Friday to jointly invest in online logistics platform E-Shipping through a joint venture formation.
   Under the agreement, the formation of the joint venture will involve the injection of the JD Onshore Company into the group by JD Logistics and the purchase of the JD Offshore Company by the venture funded by JD Logistics. Gold Talent and COSCO Shipping Logistics will acquire E-Shipping — which includes share transfer agreements that would give Gold Talent 42.35 percent equity interest and COSCO Shipping Logistics 34.65 percent equity interest in E-Shipping — before injecting it into the joint venture. The formation also includes capital injection by JV ESOP and E-Shipping ESOP.
   The joint venture will be set up in Shanghai with an initial investment of RMB 255 million ($38 million). The capital injections by JV ESOP of RMB 33 million ($5 million) and E-Shipping ESOP of RMB 12 million ($1.79 million) will increase the registered capital at completion of the joint venture formation to RMB 300 million ($44.67 million).
   JD Logistics will hold 45 percent of registered capital in the joint venture; Gold Talent 22 percent; COSCO Shipping Logistics 18 percent; JV ESOP 11 percent; and E-Shipping ESOP 4 percent.
   E-Shipping ESOP will maintain 23 percent ownership of E-Shipping, an online logistics platform controlled by COSCO and established in 2014.
   OOIL said the joint venture and the acquisition allows it to leverage “JD Logistics’ advanced technology to gain wider exposure in the e-commerce segment and actual experience in handling both ‘business to business’ and ‘business to customers’ international e-commerce logistics and to drive for future growth in these markets.”

Show More
Close