Trade-boosting partnership formed by Varamar and COSCO Shipping
Varamar has secured access to COSCO Shipping Group’s fleet of large bulk, multipurpose and semi-submersible vessels through a strategic agreement with ASL Shipping & Logistics. The strategic commercial partnership aims to help both companies strengthen their respective trades.
Varamar, a liner and tramp carrier that specialises in breakbulk, dry-bulk, oversized and containerized cargo, has historically focussed on trade lanes connecting Europe with the Middle East, Asia and Far East, while also trading to Africa and the Americas.
The COSCO Shipping group, on the other hand, owns and operates larger (28,000 dwt- 60,000 dwt), bulk, multipurpose and semi-submersible vessels, primarily focused on operating in Asia, the Middle East, Africa and the Americas.
As well as acting to help each other gain market share, the two entities agreed to promote their partner’s schedules, cooperate with joint marketing initiatives, establish a process for sharing information on open tonnage, and support each other on adjacent trades.
The COSCO and Varamar fleets and schedules will be represented on Shipnext, the shipping platform, which will help both chartering teams facilitate cooperation.
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,” said Andy Zhuang, managing director of Varamar Shanghai.