COSCO Shipping Lines and Bolloré Transport & Logistics have signed a memorandum of understanding to promote closer ties.

In the presence of senior figures Wang Haimin and Cyrille Bolloré, Cosco Shipping Lines and Bolloré Transport & Logistics recently signed a strategic Memorandum of Understanding in Shanghai.

The two companies, partners for more than two decades, want to explore new opportunities for cooperation in transport, port infrastructure and logistics.

Via the MOU, the two companies have agreed to explore the possibilities of commercial collaboration.

Bolloré Transport & Logistics and Cosco Shipping Lines want to intensify international freight flows, particularly in Africa, where Bolloré Transport & Logistics has a big network of maritime agencies.

“This new agreement signed with Cosco Shipping  Lines is the result of our common desire to develop synergies between our businesses,” said Cyrille Bolloré, chief executive of Bolloré Transport & Logistics.

“It also illustrates our ambition to continue the development of our international network by promoting cooperation with strategic partners, recognised for their excellence and performance.”

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Cosco managing director Wang Haimin said the new agreement had significant meaning to both companies “to further develop global business”.

Bolloré Transport & Logistics is a major international transport and logistics operator with 36,700 employees in 106 countries and five continents.

Cosco is based in Shanghai and is specially engaged in international and domestic container shipping and related services.

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