Shanghai: The ongoing consolidation via collaboration in Chinese shipping continues with SITC announcing it is teaming up Shanghai Hai Hua Shipping, the shipping line owned by Shanhai International Port (Group). The pair have entered into a strategic cooperation agreement whereby they will share cargo spaces and run joint services between Shanghai and Taicang to Japan. Other routes in Asia are also being eyed.
“The cooperation will assist the parties to cope with the challenges and seize the opportunities presented in the industry and allow the parties to effectively enhancing their competitiveness in the Asian region,” SITC said in a release to the Hong Kong Stock Exchange. [08/05/14]