DP World completes acquisition of Cargo Services Far East

DP World has completed the acquisition of Cargo Services Far East Ltd, a global supply chain provider headquartered in Hong Kong.

Cargo Services Far East is a market leader in origin services, moving goods from the factory floor to the customer's door, and employs over 2,500 people in Greater China and across Asia, Europe, South Africa and the US.

DP World now has more than 115,000 employees spread over 800 locations globally. By the end of the year, it will operate more than 200 freight forwarding offices, covering up to 95 per cent of global trade flows.

Founded in 1989, Cargo Services was one of the earliest foreign logistics service providers to enter the China market and has established an extensive portfolio of solutions such as origin purchase order management, ocean freight, air freight and warehousing for a diverse range of sectors. This includes sophisticated supply chain management services for retail and high-fashion customers in the US, UK, Europe, South Africa, Australia and New Zealand. It has also expanded its portfolio to provide specialised cruise logistics services globally.

Group Chairman & CEO of DP World, Sultan Ahmed bin Sulayem said, "Cargo Services' logistics expertise and global network perfectly complement our own footprint, and will be yet another tool in our offering to customers. Together, we'll create a powerful force propelling trade globally.

“By combining our strengths, technology, a growing logistics portfolio and strategic infrastructure, with Cargo Services' expertise and network, we will be able to offer unparalleled value to customers seeking to strengthen existing trade ties or enter new markets. We are very excited to welcome our new colleagues as they join us on this pivotal step in our growth journey.”