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Joint venture of PJSC TransContainer and COSCO Shipping

Joint venture of PJSC TransContainer and COSCO Shipping

PJSC TransContainer and COSCO SHIPPING will create a joint venture

PJSC TransContainer and COSCO SHIPPING signed a memorandum of strategic cooperation on June 6 at the SPIEF-2019 fields. The document was signed by TransContainer General Director Vyacheslav Saraev and COSCO SHIPPING Lines Co., LTD Deputy Managing Director Sui Jun. The Russian railway operator and the Chinese maritime carrier have agreed to set up a joint venture, with companies having to decide on a business and operating model. The Russian-Chinese joint venture will allow both companies to pool resources in order to offer efficient and high-quality logistics services to the market. In the framework of cooperation, the companies also intend to offer each other competitive rates of tariffs for transportation, mutually use the container fleet, develop multimodal services and attract new freight flows. “We expect that on the basis of the joint venture with COSCO we will create a single digital ecosystem that will allow you to ensure uninterrupted delivery of goods in clear and precise terms,” said Vyacheslav Sarayev on the day of signing.