rss icon Subscribe
desktop mobile

Cosco Acquires Stake in Greek Intermodal Firm

Photo: Cosco Shipping Group

Laxman Pai

OceanRail Logistics, part of the Cosco Shipping Group, acquired 60% of the Greek railway company Piraeus Europe Asia Rail Logistics (PEARL) as part of its plan to develop its intermodal transport services network.

OceanRail specializes in sea-rail intermodal transport with the Piraeus Port as the hub and related logistics business, while PEARL is a Greece-based company engaged in railway operations.

The China-Europe Land-Sea Express Line, which starts from the Piraeus Port in Greece and expands to the hinterland of Central and Eastern Europe, covering North Macedonia, Serbia, Hungary, Austria, Czech Republic and Slovakia, is the third new trade corridor from the Far East to Europe and effectively connects the 21st Century Maritime Silk Road and the Silk Road Economic Belt.

In 2019, over 1,000 runs of trains are estimated to be sent along the China-Europe Land Sea Express Line, with a total freight volume of about 80,000 TEU.

Through this equity acquisition, OceanRail will obtain the railway operation qualification in Europe, thus further consolidating the resource development of Cosco Shipping in the railway transport corridor of the China-Europe Land Sea Express Line and improving its railway operation capacity.

It will also play an active role in boosting the rapid business development of the Express Line, building a new China-Europe trade corridor and enhancing the position of the Piraeus Port as a container transit port, a bridgehead of land-sea intermodal transport and an international logistics distribution center.

Nov 14, 2019

 

People & Company News

Port Operator ICTSI to Double Capacity at Congo Terminal

© Mike Mareen / Adobe Stock

Philippines-based port operator International Container Terminal Services Inc. (ICTSI) will more

NORDEN Examining Biofuels

(Photo: NORDEN)

NORDEN partners with Danish based Kvasir Technologies, a spinout from the Technical University of

Interview: Ed Grimm, CEO, Southern Towing Company

Ed Grimm, (second from left) CEO, Southern Towing Company during a crew visit.

“In God we trust. All others must have data.”When Ed Grimm took the helm of Southern Towing

Intermodal

BIMCO: Tanker Shipping and Macroeconomics Outlook

Source: BIMCO, WTO

World growth and trade volumes under pressure, but still positive. A continued slowdown in global

DHL Intros Fastest China-Germany Intermodal

Pic © Deutsche Post DHL Group

DHL Global Forwarding, the ocean freight specialist of Deutsche Post DHL Group, is introducing the

CEVA Logistics Opens Marseille HQ

© CMA CGM

On the occasion of his visit to Marseille for the National Industry Council, Prime Minister

Maritime Apps