LX Pantos is establishing a three way partnership with China’s largest logistics firm to focus on the quickly rising sea-air multimodal transportation market. The corporate plans to construct a worldwide transshipment community primarily based on China-originated e-commerce cargo and improve Northeast Asia’s logistics hub competitiveness.
LX Pantos introduced on Nov. 14 that it signed a contract on Nov. 13 in Beijing, China with Sinotrans for the institution of three way partnership Future Hyperlinks. The signing ceremony was attended by Lee Yong-ho, CEO of LX Pantos, and Zhang Yi, chairman of Sinotrans.
Sinotrans is China’s largest logistics firm that recorded 4.872248 million TEU (1 TEU equals one 20-foot container) in maritime transportation cargo quantity as of final yr, rating first amongst world delivery corporations. The newly established three way partnership Future Hyperlinks can have LX Pantos holding 60% and Sinotrans holding 40% of shares.
By way of the three way partnership, each corporations plan to construct a steady transshipment community centered on the Incheon-Weihai (Shandong Province) route, which is a key logistics gateway between Korea and China, and supply built-in logistics companies protecting main shopper markets corresponding to america and Europe. The plan is to cooperate by transporting cargo departing from numerous components of China to Korean ports by sea, then delivery it worldwide by air by Incheon Worldwide Airport.
The 2 corporations goal the quickly rising demand for sea-air multimodal transportation of China-originated e-commerce cargo and foster the newly established three way partnership as a number one multimodal transportation specialised logistics firm in Northeast Asia. Specifically, the collaboration features strategic significance as China’s home air logistics infrastructure not too long ago didn’t sustain with the surging e-commerce cargo demand. Accordingly, Incheon Airport, which connects 192 cities worldwide and possesses 118,000 tons of multimodal transportation cargo quantity (primarily based on final yr), has emerged as a significant transshipment hub.
Lee Yong-ho, CEO of LX Pantos, mentioned, “This cooperation is a brand new progress mannequin for preoccupying the Northeast Asian logistics transshipment market and the fruit of the long-standing strategic partnership between each corporations,” including, “We are going to contribute to strengthening the competitiveness of the home logistics business by stably securing the surging China-originated e-commerce cargo quantity.”
Zhang Yi, chairman of Sinotrans, mentioned, “LX Pantos is Korea’s consultant logistics firm with air logistics competitiveness and an intensive world community,” including, “By way of the cooperation between each corporations, we are going to create new synergies within the Korea-China multimodal transportation market.”
