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Inchcape mulls Chinese partnership

Inchcape mulls Chinese partnership

London: Inchcape Shipping Services (ISS) is actively seeking a partner in China to expand and broaden its services product range. The company already operates as independent agency in the country as an extension of its Hong Kong operations.

'We are currently looking at a number of opportunities for joint ventures which would enable ISS to operate a full agency package,' group ceo Claus Hyldager told Seatrade. Potential partner might be a major Chinese shipping or port company, he added.
Expansion of activities in China and SE Asia is viewed as a key plank in ISS plans to double its global earnings between now and 2010. Bulk business in particular is being targeted, with ISS seeking to expand significantly the sector's current 20% share of global port calls. Worldwide, the group looks to increase its current total of 53,000 port calls a year to 70,000 by 2010.

ISS, part of the new Dubai World holding company following its takeover by UAE-based investment Istithmar, already announced the formation of a joint venture with the agency arm of Russian Far East shipping company PRISCO earlier this month.  [14/07/06]