Yang Ming signs MoU with partners for establishing a joint venture

Yang Ming Marine Transport Corp. today(May, 10th) signed a Memorandum of Understanding(MoU) with Taiwan International Ports Corporation, Ltd.(TIPC), Tungya Transportation & Terminal Co., Ltd., Taiwan Navigation Co., Ltd., T.S. Lines Co., Ltd. and Chunghwa Post Co., Ltd. for the establishment of a joint venture holding company with the aim to deepen and extend the scope of cooperation between the six enterprises. The memorandum was jointly signed by the leaders of the companies under the witness of HO CHEN, Tan, Taiwan‘s Minister of Transportation and Communications.

In light of the rapid growth of the emerging markets in the Association of Southeast Asian Nations(ASEAN) and South Asian countries, ASEAN has recently become Taiwan‘s second-largest export market and second-largest investment destination. To penetrate the region‘s market, the MoU is expected to set a framework of creating a mutually beneficial cooperation platform between the six companies and seize overseas investment opportunities by using their respective expertise, exchanging experiences and sharing resources for the supply chain integration in shipping and logistics.

After last year‘s announcement to partner with TIPC of setting up a container freight station in Surabaya, Indonesia, Yang Ming has furthered its support in overseas investment opportunities in ASEAN and South Asian countries by signing the strategic partnership comprised of shipping line, ports, and logistics industries. Through the collaboration, Yang Ming will seek to optimize its cost structure, strengthen competitiveness and expand global business.

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