TransContainer and COSCO Shipping intend to sign a Memorandum of Understanding, said TransContainer CEO Vyacheslav Saraev speaking at the St. Petersburg International Economic Forum. According to V.Saraev, the document provides for establishing a joint venture between the two companies.
Later during the day, the agreement was signed by V.Saraev and Sui Jun, Deputy CEO, COSCO SHIPPING Lines Co., LTD. The business and operational model of the would-be joint venture is to be defined yet.
In the framework of their cooperation the parties also intend to offer each other competitive rates, share container parks, develop intermodal services and attract new cargo flows.
“We expect to develop in cooperation with COSCO a common digital eco-system that will allow of guaranteeing uninterrupted on-time delivery”, said V.Saraev.