COSCO, Bolloré Team Up to Create Business Synergies

China’s container shipping company Cosco Shipping Lines and French-based transportation group Bolloré Transport & Logistics have signed a memorandum of understanding (MoU) to develop new strategic cooperation.

Under the MOU inked in Shanghai on January 29, the duo aims to “densify their commercial relations while exploring new opportunities for cooperation in transport, logistics and port infrastructure.”

The two companies said they intend to develop their respective activities and satisfy the needs of their customers, particularly in terms of digitalization.

Bolloré Transport & Logistics and Cosco Shipping Lines want to intensify international flows, particularly on the African continent, where Bolloré has a 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. It also illustrates our ambition to continue the development of our international network by promoting cooperation with strategic partners,” Cyrille Bolloré, CEO of Bolloré Transport & Logistics, commented.

“The new agreement has significant meaning to both of the two companies to further develop global business,” Wang Haimin, Managing Director of COSCO SHIPPING Lines, said.