CULINES and Antong Holdings held an online ceremony and signed a Framework Agreement on Strategic Cooperation, aiming to further promote the dual circulation development pattern, enhance the long-term cooperation on European and Transpacific services, and integrate the shipping of domestic and foreign trades.
Wei Wang (Party Committee Secretary and Chairman of Antong) and Raymond Chen (Chairman & CEO of CULINES) delivered speeches. Jianqiang Lou (Director & CEO of Antong) and Kevin Ding (EVP of CULINES) signed the agreement on behalf of each party.
Innovative cooperation pattern
Jizhong Yuan (VP of Antong), Xiaofeng Ai (CFO of Antong), Xing Rong (VP & Board Secretary), Yan Zhang (GM of International Department of Antong), Hawk Huang (VP & COO of CULINES), Michael Zhao (GM of Ocean Line Division and Operation Department of CULINES), Robin Wang (GM of Finance of CULINES), Vincent Hu (Deputy Director of President Office of CULINES) attended the ceremony.
CULINES launched and operated European and Transpacific services with the pooled resources
In 2021, against the backdrop of national policies on dual circulation and stability and security in key areas, in an innovative cooperation pattern, CULINES launched and operated European and Transpacific services with the pooled resources of the two parties.
The cooperation not only made great economic and social benefits but also promoted the development of China’s foreign trade and enhanced China’s independence of the supply chain.
International shipping networks
This extended 3-year strategic cooperation will further integrate domestic and international shipping networks in the context of dual circulation development patterns and unleash greater potential for future cooperation and development.
As the No.4 and No.5 container liners in terms of capacity based in the Chinese mainland, CULINES and Antong will leverage their respective strengths in domestic and international trades to build up an integrated shipping network and a mutually beneficial cooperation mechanism.
Also, the cooperation will increase the resilience to industrial cycles and business risks of both parties in the post-pandemic era and set an example of a close partnership between China-based shipping companies. Going forward, CULINES will continue to be responsible for the overall operation of the cooperated European and Transpacific services.
Increasing customer demands
CULINES has successfully upgraded the South China-USWC TPC service
With the secured and competitive capacity supply of this long-term cooperation, the ocean-going services will be progressively upgraded to meet increasing customer demands, improve customer experience, and create more values for customers.
Based on the confirmed long-term cooperation agreement, CULINES has successfully upgraded the South China-USWC TPC service, which features security in terms of fleet, schedule, berthing window, rotation, and customer base with long-term contracts.
With the support of partners such as YICT and TraPac, CULINES is confident to reduce uncertainties of the supply chain in the Transpacific market as much as possible and develop TPC into a reliable premium service, providing an alternative for foreign-trade and e-commerce customers.
Strategic investment in shipping logistics
In Europe, with regular callings at base ports and Southampton and a partner carrier joined, the bi-weekly AEX service is running well. Thanks to the flexibility of the fleet, this service has maintained an excellent record in berthing and turnover and won market recognition, becoming a valuable supplement to mainstream Asia-Europe services.
Moreover, both parties will actively explore more cooperation opportunities on coordinated development and strategic investment in shipping logistics and other areas.
