News Release

11th May 2000 Signs MOU with COSCO Network to Form a Strategic Alliance


[Hong Kong, 11 May, 2000] Limited (, the e-commerce operations of Hutchison Port Holdings (HPH), and COSCO Network Limited (“COSCO Network”), a member of the China Ocean Shipping Group Company (COSCO), announced that they have signed a Memorandum of Understanding expressing their intention to form strategic alliance between the parties in providing logistics solutions and transportation services via internet-based online open transport exchange. This strategic alliance has been facilitated by BOCI Asia Limited.

The Group Managing Director of HPH, John Meredith said, “This strategic alliance will utilize both our IT experience and expertise in the transport industry to promote e-commerce services to the global logistics and transportation market. The partnership with COSCO, one of the world’s largest shipping companies, will benefit the transport community”

Wei Jiafu, Chairman of COSCO was delighted about the partnership opportunity. “The alliance is a major step forward in streamlining the integration of the logistics and transportation services industry. The services will initially cover the vertical market of the shipping industry with plan to expand to other industries.”