PSA AND CHINA MERCHANT SET UP CHINESE LOGISTICS VENTURE
Singapore-based port operator PSA Corp. and China Merchants Holdings have formed a logistics joint venture in China.
Named China Merchants-PSA Logistics Network Co. Ltd., the company is a joint venture between PSA-China Logistics Pte Ltd., a subsidiary of PSA, and China Merchants International Freight & Forwarding Co. Ltd. (Shanghai), a member of the Chinese group China Merchant.
China Merchants-PSA Logistics Network provides a range of logistics services from inventory management to distribution. The company has set up regional distribution centres in Shanghai, Guangzhou, Wuhan, Chengdu, Tianjin and Dalian. The company is licensed to provide domestic freight forwarding services for the distribution of goods throughout China.
PSA said that China Merchants-PSA Logistics Network will tap on PSA’s and China Merchant’s freight forwarding network and links with the shipping lines to ensure that customers’ goods will be “seamlessly distributed to their markets throughout China.”