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Amazon expands logistics operations in China, challenging Alibaba …

Amazon expands logistics operations in China, challenging Alibaba Asia Times

Home Asia Unhedged Amazon expands logistics operations in China, challenging Alibaba[1][2]

By [3] on February 10, 2016 in[4]

Asia Unhedged, China[5][6]

Having successfully upended the entire retail system in the US, Amazon.com has set its sites on China and taken direct aim at Alibaba Holdings, China s e-commerce giant.

Amazon Expands Logistics Operations In China, Challenging Alibaba ...

Amazon office in China

Amazon is expanding its logistics operations for handling goods headed to Japan, Europe, and the US. Last year, it began its move to export from inside the country, by registering a Chinese subsidiary, the Beijing Century Joyo Courier Service, with China s transport ministry.

It has also filed an application with the Shanghai Shipping Exchange to become the shipping broker for 12 trade routes, such as the Shanghai-to-LA and Shanghai-to-Hamburg routes, according to Reuters[7].

Reports point to Brian Xue, vice president of Amazon s operations in China, as the brains behind the operation. Since joining the company in 2014, he s apparently been pushing for a takeover of the mainland, personally signing the recent filings with the government himself.

Amazon s master plan, according to Forbes, is to build a system that will allow its customers to ship to absolutely anywhere in the world, at minimal cost, and in just three days or less.

With ambitions similar to Amazon s Alibaba has already expanding its logistics networks and services to every continent, and has taken the lead in streaming, banking, payments and other systems.

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  6. ^ China (atimes.com)
  7. ^ according to Reuters (ca.news.yahoo.com)
  8. ^ Asia Unhedged (atimes.com)
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COSCO offers 700m euros for Greece's Piraeus Port, WSJ says …

COSCO offers 700m euros for Greece s Piraeus Port, WSJ says Asia Times

Home Asia Unhedged COSCO offers 700m euros for Greece s Piraeus Port, WSJ says[1][2]

By [3] on January 14, 2016 in[4]

Asia Unhedged, China[5][6]

(From China Daily)

China s COSCO Shipping Group Co, the country s newly combined and largest shipping company by capacity, offered 700 million euros ($762 million) to acquire a majority stake in Piraeus Port Authority SA, the largest port in Greece after waiting for 18 months.

COSCO Offers 700m Euros For Greece's Piraeus Port, WSJ Says ...

Greece s Piraeus port

China COSCO Holdings Co, a subsidiary of COSCO Shipping submitted a formal tender offer to Greek government earlier this week. COSCO Shipping was one of five industry players, including the Dutch and the US container terminal operators APM Terminals and Ports America Inc to show an interest in a 67 percent stake in Piraeus Port Authority in June 2014, according to a Wall Street Journal report.

A spokesperson for the Greek fund handling the sale wouldn t comment as the process was continuing.

Under the proposed deal, COSCO Shipping will invest another 350 million euros once the deal is sealed within five years to improve and upgrade infrastructure facilities in Piraeus Port.

COSCO Shipping was the only chosen bidder to receive the notice from the Hellenic Republic Asset Development Fund, a privatization agency owned by the Greek government, to deliver its tender offer to Greek authority within one week time, after another two shipping rivals withdrew from the race. COSACO already operates two piers at Piraeus Port.

Eager to enhance their earning ability and compete with foreign rivals, China Ocean Shipping Group Co and China Shipping Group Co on Jan 2004 announced their merger and new management team, the COSCO-CSC Conglomerate now is the world s fourth biggest container line, with 8 percent of global container freight capacity, as well as a large number of port, shipyard, logistics assets.

Chen Yingming, executive vice-president of Shanghai-based China Ports and Harbors Association, said even though it took long time for Greek government to choose the best buyer, it was worth waiting to invest in the port business, as asset values have fallen sharply under the current industrial business setting. Read more[7]

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References

  1. ^ Home (atimes.com)
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  6. ^ China (atimes.com)
  7. ^ Read more (europe.chinadaily.com.cn)
  8. ^ Asia Unhedged (atimes.com)
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  14. ^ (atimes.com)