COSCO Shipping International's JV to Explore Collaboration for Regional Distribution Center in Singapore

MT Newswires

Sep 05

COSCO Shipping International (Singapore) (SGX:F83) said its joint venture company with Supply Fortune signed a memorandum of understanding with PSA Port Ecosystem to explore potential collaborations for a warehouse building named PSA Supply Chain Hub @ Tuas.

Goldlead Supply Chain Development and PSA will seek to set up a regional distribution center in Singapore to serve Southeast Asia or the entire Asia, according to a filing with the Singapore Exchange on Friday.

Majority of the hub's volume will be intended for regional transshipments, the filing said.

Shares of the company were up over 2% at market close.

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