Cosco launched its supply chain logistics division

Cosco Shipping Holdings officially launched its supply chain logistics division yesterday, joining peers like MSC, Maersk and CMA CGM in entering the 3PL arena.

The state-controlled group said, in a Shanghai Stock Exchange filing, it wanted to optimise warehousing, trucking, container distribution, sea and rail freight, customs clearance, air freight and LCL transportation.

The windfall reaped by liner operators in the last two years, the result of logistical bottlenecks, has encouraged ocean carriers to invest in the logistics field.

There had been signs that Cosco wanted to enlarge its logistics capabilities. On 1 October, it was announced that Cosco Shipping Lines would take a 7% stake in affiliate Cosco Shipping Logistics Supply Chain, describing the move as “a strategic investment”.