English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

HNA to spend another US$1 billion on logistics

SINGAPORE: September 07, 2017. HNA Belt and Road Investments Singapore, a subsidiary of HNA Holding Group (HK Group), has made an unsolicited offer of S$1.4 billion to acquire Singapore-based logistics company CWT.

CWT CWT was incorporated in 1970 as a private arm of the Port of Singapore Authority to provide warehousing and container trucking services in support of terminal operations. The company operates in four business segments: logistics, commodity marketing, financial services and engineering.

Last year CWT reported revenue of S$9.25 billion with logistics contributing S$831.8 million. Pre-tax profit was S$104.8 million and net profit was S$79.02 million.

The vast majority of its revenue is derived from the physical trading and supply chain management of copper, lead, zinc and other minor metals and energy products including naphtha and distillates. Last year revenue from this commodity marketing totaled S$8.16 billion.

As part of its development strategy, the HK Group says it focuses on M&A opportunities in international markets with a particular interest in logistics real estate, logistics warehousing, bulk commodity trading, logistics finance, logistics transport facilities, oil storage, marketing and transportation – "while closely monitoring the economic and trade development situation in the 'One Belt, One Road' initiative in Southeast Asia, and other regions including Hong Kong".

HNA said the rationale for acquiring CWT is because the company provides integrated logistics solutions in Singapore and internationally, with a niche market focus in the commodity, chemical, marine, F&B and wine, and industrial sectors.

CWT Group manages 10.3 million sq. ft. of owned and leased warehousing space in Singapore, which includes a 2.4 million sq. ft. mega integrated logistics hub under construction. The company also operates warehouses near key transport hubs around the world and a forwarding network of more than 100 offices and agents globally.

More News

Written on 18/01/2018, 21:36
jd-com-signs-deals-with-vietnam-and-franceBEIJING: January 15, 2018. JD.com, China's largest retailer, is to become a major shareholder in Vietnam's B2C e-commerce platform Tiki.com following the...
Written on 18/01/2018, 17:43
record-port-volume-for-south-carolinaCHARLESTON, SC: January 17, 2017. The South Carolina Ports Authority (SCPA) handled a record 2.2 million TEU in 2017, resulting in a nine percent growth...
Written on 17/01/2018, 23:18
fedex-trade-networks-to-include-ecommerce-and-specialty-logisticsMEMPHIS, January 16, 2018. FedEx Corporation is combining its specialty logistics and e-commerce solutions in a new organization under its FedEx Trade...
Written on 17/01/2018, 22:25
singapore-and-kuehne-nagel-to-invest-in-advanced-logistics-technologySINGAPORE/SCHINDELLEGI, Switzerland: January 15, 2018. Singapore sovereign investor Temasek has signed an MoU with Kuehne + Nagel to invest in early stage...
Written on 16/01/2018, 22:59
freightweek-news-update-week-03-2018LANGHORNE, PA: January 19, 2018. va-Q-tec, a provider of thermal packaging solutions for temperature controlled transportation, has opened a North...
Written on 13/01/2018, 15:10
freightweek-news-update-week-02-2018HOLZWICKEDE: Germany: January 12, 2018. The Rhenus Group has acquired Brazilian import broker Pirâmide SeaAir Comércio Exterior with offices in São...
Written on 10/01/2018, 23:01
fedex-opens-new-shanghai-hubHONG KONG, January 8, 2018. Federal Express has officially opened its 134,000 sq.mt. cargo hub at Shanghai Pudong International Airport to support 66...
Written on 10/01/2018, 22:55
dp-world-to-continue-us-1-billion-annual-investmentsDUBAI: January 08, 2018. DP World invested US$1 billion in global trade services, supply chain diversification and smart technology last year. The...
Written on 09/01/2018, 23:18
turkish-airlines-adds-to-b777-freighter-fleetSEATTLE: January 08, 2017. Turkish Airlines has ordered three more B777 freighters with a list price of approximately US$300 million each. The new order...
Written on 09/01/2018, 22:41
brussels-reports-best-traffic-in-a-decadeBRUSSELS: January 08, 2018. Brussels Airport finished 2017 with an 8.3 percent increase in air cargo traffic compared to 2016 with a total of 535,634 tons...
Written on 05/01/2018, 18:46
dunkerque-added-to-central-america-reefer-serviceCURACAO: January 04, 2018. Specialist reefer and bulk cargo carrier StreamLines has begun a new weekly service linking Central America, the Caribbean,...
Written on 04/01/2018, 22:29
swisslog-provides-automated-pharma-facility-for-kuehne-nagelBUCHS, Switzerland: January 03, 2018. Swisslog, a specialist in warehouse automation and robotics, is implementing a 'high-bay' warehouse at Möhlin in the...
Written on 03/01/2018, 23:56
block-train-helps-maersk-line-expand-in-nepalMUMBAI: January 03, 2018. Responding to a Nepalese import market that has doubled in the past five years, Maersk Line says it wants to increase its block...
Written on 02/01/2018, 18:27
freightweek-news-update-week-01-2018DOHA: January 07, 2018: Qatar Airways Cargo operated 14 B777 freighter flights to carry 1,400 tonnes of cherries from Santiago, Chile via Doha to Shanghai...
Written on 30/12/2017, 20:41
freightweek-news-update-week-52DUBAI: December 30, 2017. Emirates SkyCargo reports carrying 2.5 million tonnes of airfreight in 2017 and a 38 percent growth in pharmaceutical traffic...
Written on 18/12/2017, 17:30
freightweek-news-update-week-51AMSTERDAM: December 22, 2017. Hutchison Ports has acquired a 50 percent stake in TMA Logistics, with three locations in Amsterdam and one in Antwerp as...
Written on 15/12/2017, 22:46
tx-logistik-buys-40-bombardier-locomotivesTROISDORF, Germany: December 14, 2017. Italian rail company TX Logistik has signed a purchase and maintenance contract with Bombardier Transportation for...
Written on 15/12/2017, 21:57
turkish-airlines-signs-airport-transfer-dealISTANBUL: December 14, 2017. Turkish Airlines has signed a consulting contract with Munich Airport International (MIA) to help facilitate the transfer of...
Written on 15/12/2017, 19:59
xeneta-to-add-air-to-ocean-rate-platform-in-2018OSLO: December 14, 2017. Ocean rate platform Xeneta is adding air cargo rates to a product suite that it says will "bring fresh levels of transparency to...
Written on 15/12/2017, 17:34
cargolux-gets-the-measure-of-wind-farmsLUXEMBOURG: December 15, 2017. Cargolux and Globaltrans Internationale Logistik have delivered two wind measuring buoys for two 2.8GW capacity wind...

- powered by Quickchilli.com -