Saturday, August 9, 2014

Freight Forwarding Group Expands Asian Logistics Activities

Acquisition of Outstanding Shares in Joint Venture for German Company
Shipping News Feature

VIETNAM – GERMANY – JAPAN – With many freight forwarding and logistics outfits looking to South East Asia as the place to expand, one company which has traded for many years in the region has consolidated its position this month. Schenker Vietnam Co. Ltd., DB Schenker’s business entity in Vietnam, was established in 1991 and is one of the leading and earliest established logistics companies in the country offering a full panoply of supply chain services from removals to air and ocean shipping and contract logistics.

Now DB Schenker has strengthened its foothold in Vietnam’s logistics arena with the recent acquisition of the outstanding 49% of the shares in its joint venture with Gemadept Logistics. Schenker Gemadept Logistics was formed in July 2007 to provide logistics and supply chain services through an agreement between Schenker Vietnam Co. Ltd. and Gemadept Logistics, with the former holding 51% of shares and the latter with the balance. Juergen Braunbach, CEO of Schenker Vietnam commented:

“DB Schenker has been delivering top-class logistics solutions in Vietnam for over twenty years and remains committed to growing this energetic market hence this move to acquire full ownership of Schenker Gemadept Logistics.”

Full integration will follow immediately and the new set-up will allow further roll out of DB Schenker’s established solutions for customers from various vertical markets such as Electronics, Retail and Consumer Goods. Schenker Vietnam’s Head of Contract Logistics, Thorsten Kipp, added:

“Among our customers are top global and local brands operating in Vietnam. They rely on DB Schenker to provide expert and experienced solutions to their business needs. This recent acquisition stamps our commitment to this promise and to sustainable investments in Vietnam.”

Last month Schenker announced another Asian development with a new hub in Osaka, Japan in order to expand the group’s intermodal freight service between North Asia and Europe. The principal plan being to combine air and ocean cargo services giving a 50% cut in transit times both to customers in the region with a knock on effect for US based clients rather than the current routing via Dubai. Janaka De Silva, head of DB Schenkerskybridge for Asia Pacific, said at the time:

“Our customers in Europe have been requesting a solution to ship cargo especially from North Asia with shorter transit times. We looked at several options. Osaka met quite the criteria necessary for a new hub. We put this project in motion within six weeks.”

Photo: An historic shot of Cam Ranh Bay, Vietnam.