SITC International to open logistics park in Haiphong, Vietnam

SITC International Holdings Company Limited, a leading China-based shipping logistics company, has announced an agreement with its Vietnamese partner to build and operate a logistics park in Haiphong's Dinh Vu Port in northern Vietnam.

The agreement will see SITC International, through its wholly-owned subsidiary SITC Shipping Asia PTE Limited, establish a joint venture, SITC-Dinh Logistics Co Ltd with Dinh Vu Port Development and Investment Joint Stock Company in Haiphong.

The joint venture company will carry out logistics between Vietnam and neighbouring Asian countries, covering door-to-door services that include shipping agency, multimodal transport, less-than-container loads, trucking, depot, container freight station, warehousing, forwarding, container repair and customer declaration services.

The joint venture company will lease a 30,000 square metre container yard in Dinh Vu Port on which it will build and operate logistics park facilities for a total investment of US$2 million. SITC International will contribute 49 per cent and Dinh Vu Port, 51 per cent to the JV company.

SITC International plans to replicate its Qingdao Logistics Park as a "customer-oriented integrated logistics park" near port, highway and rail facilities as well as enhance sea, land and air freight, warehousing and processing, distribution and delivery, significantly reducing costs and increasing supply chain efficiency.

SITC International started to expand its container shipping network into ASEAN countries in 2004, and said it became the market leader between China and the Philippines and Vietnam in 2009.

Said SITC International chairman and executive director Yang Shaopeng: "This Dinh Vu Port Logistic Park agreement is an extension of the shipping agency and container shipping businesses for southeast Asian countries we currently have to wider logistics service coverage.

"We are positive about the trade among ASEAN countries and will expand our container shipping network to cover more ports in ASEAN countries including Vietnam, Thailand and Indonesia. Establishing ancillary land-based logistics services nearby these ports comes as part of our strategy," he said.
 

Source: SchedNet