Cosco Shipping teams up with COFCO on grain shipping

Cosco Shipping teams up with COFCO on grain shipping

Cosco Shipping Bulk has signed a strategic framework agreement with China’s largest grain trader COFCO Group in the latest example of Chinese state-run firms joining forces to control supply chains of key materials.

Under the agreement, the two parties will form a partnership to jointly develop business opportunities in international shipping and logistics.

Over the past a few years COFCO has invested in port and logistics companies in major grain export areas including Australia, South America and the Black Sea region, and it plans to build new warehouses and processing facilities in countries including Myanmar, Kazakhstan, Ukraine and Indonesia.

COFCO had previously collaborated with former China Shipping before its merger with Cosco. China Shipping customised a dedicated liner service for COFCO’s grain imports from Latin America using bulker COFCO 1.

COFCO used to own a large bulker fleet before it sold its entire fleet to Genco Shipping in late 2004.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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