DP World has completed the acquisition of Cargo Services Far East Ltd, a global supply chain provider headquartered in Hong Kong. The acquisition process is officially complete with plans for full integration over the next few months.
Founded in 1989, Cargo Services was one of the earliest foreign logistics service providers to enter the China market. The company is a market leader in origin services, moving goods from the factory floor to the customer’s door. It employs over 2,500 people in Greater China, Asia, Europe, South Africa and the U.S.
“By combining our strengths – technology, a growing logistics portfolio and strategic infrastructure – with Cargo Services’ expertise and network, we will be able to offer unparalleled value to customers seeking to strengthen existing trade ties or enter new markets,” stated Sultan Ahmed bin Sulayem, group chairman & CEO of DP World.
DP World to operate over 200 freight forwarding offices
DP World said the teams from both companies will put together all required resources to ensure a smooth integration process, prioritizing operational continuity and delivering to meet customers’ needs.
With this significant milestone, DP World now has more than 115,000 employees in 800 locations globally. By the end of the year, the company will operate more than 200 freight forwarding offices, covering up to 95 percent of global trade flows.
Read: DP World’s Jebel Ali sets new record with 1.4 million TEUs in July 2024
Greater sector-specific logistics solutions
Over the decades, Cargo Services has established an extensive portfolio of solutions such as origin purchase order management, ocean freight, air freight, and warehousing for a diverse range of sectors. This includes sophisticated supply chain management services for retail and high-fashion customers in the U.S., U.K., Europe, South Africa, Australia, and New Zealand. It has also expanded its portfolio to provide specialized cruise logistics services globally.
For his part, John Lau, group managing director of Cargo Services Group, said: “By joining DP World, we will gain access to extensive resources and expertise, allowing us to continue delivering top-tier freight-forwarding and logistics services that our customers demand.”
Industries like automotive, chemicals, healthcare, perishables, retail, and technology require specific logistics solutions. Therefore, DP World aims to create specialized offerings that address each sector’s specific challenges and opportunities. Moreover, it seeks to provide comprehensive, sector-specific solutions that drive efficiency, innovation, and growth.
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