Yang Ming Inaugurates Depot in Surabaya

In view of the rapid growth of Southeast Asian market, Yang Ming has cooperated with Taiwan International Ports Corporation, Ltd. (TIPC) and Indonesian investors to set up a joint venture depot company named P T. FORMOSA SEJATI LOGISTICS in Surabaya, Indonesia. An opening ceremony was held on May 15, 2018. The company will provide inland container depot and logistics services, its authorized capital is US$ 5 million and initial paid-in capital is US$ 1.25 million.

Through the investment in P T. FORMOSA SEJATI LOGISTICS, Yang Ming can enjoy the advantage of cost reduction, and further develop Indonesia market as well as advancing service quality to customers. Indonesia is the largest economy in ASEAN and also has the largest population in Southeast Asia. The International Monetary Fund (IMF) forecasted Indonesia‘s GDP would grow 5.3% in 2018, which is 1.4% higher than the global economic growth rate, and has grown on average 5.8% in the past 10 years.

The data and forecast show that Indonesia possesses the positive development potential in shipping industry and international trading. The steady and rapid growth promises great opportunities of shipping and logistics business such as depots and warehouses in Indonesia where Yang Ming has offered services for years and is expanding its cargo base in Surabaya area.

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