Cosco Shipping JV company inks MOU with PSA Port Ecosystem

 The deal is about a warehouse building in Tuas.

Cosco Shipping International (Singapore) has announced that its joint venture company, Goldlead Supply Chain Development, entered into a memorandum of understanding (MOU) with PSA Port Ecosystem for possible collaboration in relation to a warehouse building called  PSA Supply Chain Hub @ Tuas.

Goldlead Supply, Cosco’s joint venture with Supply Fortune Limited, and PSA Port aim to establish a regional distribution centre in Singapore to serve the markets in Southeast Asia and/or Asia, with the bulk of the volume intended for regional transhipment.

Cosco said in its bourse filing that the MOU does not create any legally binding collaboration between the companies and may or may not lead to any definitive agreements in relation to the intended collaboration.