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Tuesday, June 18, 2024
Home Out of the Box Varamar and COSCO Shipping form commercial partnership

Varamar and COSCO Shipping form commercial partnership

Varamar DMCC and ASL Shipping & Logistics, a COSCO Shipping group firm, established a strategic commercial cooperation to enable both companies to develop their respective trades.

Varamar, a liner and tramp carrier specializing in breakbulk, dry-bulk, oversized, and containerized cargo, has historically concentrated on trade lanes linking Europe with the Middle East, Asia, and the Far East, as well as Africa and the Americas.

Varamar's recent expansion to ten worldwide branches in Antwerp (Belgium), Hamburg (Germany), Genoa (Italy), Athens (Greece), Odessa (Ukraine), Istanbul (Turkiye), Dubai (UAE), Shanghai (China), Houston (Texas), and Vancouver (Canada) has allowed it to establish new goals. Varamar mostly operates in the 3,000-30,000 dwt tonnage range.

The COSCO Shipping group, on the other hand, owns and manages larger (28,000 dwt-60,000 dwt) bulk, multi-purpose, and semi-submersible vessels, with a primary focus on Asia, the Middle East, Africa, and the Americas.

In addition to assisting each other in gaining market share, the two entities will promote their partners' schedules, collaborate on joint marketing campaigns, develop a framework for exchanging open tonnage information, and support each other on neighbouring transactions.

Furthermore, the COSCO and Varamar fleets and schedules will be displayed on Shipnext, the shipping platform, allowing both chartering teams to collaborate more easily.

According to a statement, Kaptan Singh (Malik) will be heading and creating teams for this partnership as head representative, working alongside Niraj Mehta, managing director of Varamar DMCC and Andy Zhuang, managing director of Varamar Shanghai.

"Both entities have different areas of operation and trade targets, so we believe this agreement plays to the strengths of each partner. We look forward to working together to strengthen the commercial and chartering activities of both COSCO and Varamar," stated Andy Zhuang, managing director of Varamar Shanghai.





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