SITC Inks Cooperation Deal with Qingdao Port

Shipping logistics company SITC International Holdings has signed today a cooperation agreement with Qingdao Port International Co., Ltd. aimed at strengthening the strategic cooperation in the port and logistics market.

Pursuant to the 5-year agreement, Qingdao Port International will support SITC’s provision of “high-frequency, high density” sea freight logistics services and SITC will treat Port of Qingdao as its preferred choice for container loading and unloading.

In addition, the parties agreed to jointly participate in terminal, logistics and infrastructure investments and operations in Southeast Asia and mainland China. They also agreed to actively explore suitable business cooperation projects in both overseas and domestic logistics markets, including ports and inland container depot and warehouse, shipping agency and extension services, port related ancillary services.

Qingdao Port International is a primary operator of Port of Qingdao and operates four port areas in Qingdao, mainly engaging in handling of different types of cargoes such as containers, metal ore, coal and oil and provision of ancillary services, logistics and port value-added services, port ancillary services and financial services.

“Signing of this strategic cooperation agreement will enable us and Qingdao Port International to leverage our respective strengths, resources and expertise and provide value-added services to customers, which will be beneficial to business development of SITC and Qingdao Port International,” said Yang Shaopeng, SITC Chairman of the Board and Executive Director.

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