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China Shipping ties up with Alibaba in logistics venture

China Shipping ties up with Alibaba in logistics venture
China Shipping Group is stepping up to the new economy, partnering with Chinese e-commerce powerhouse to establish an integrated logistics platform, the company said in a stock market release over the weekend.

Through two subsidiaries, it will combine its traditional shipping services with e-commerce. China Shipping Network Technology (CSNT), a provider of transport information products indirectly held by China Shipping Group, has signed a framework agreement for cooperation with and the group's liner shipping arm, China Shipping Container Lines (CSCL).

The three companies will "put in resources to build an integrated service platform for international shipping which both China Shipping's clients and Alibaba's clients can use for online logistics price inquiry, online ordering, online settlement and online goods tracking", the announcement said.

There were no financial details or more specific details released.