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Damco moves closer to Chinese growth giant

Maersk's logistics company Damco expands its collaboration with a Chinese company that expects to increase its revenue by 130 percent over the next three years.

Chinese company Shangdong Kerui Holding Group - for which Damco has been transporting oil products from Tianjin and Zhengzhou to South America and Europe since 2013 - is moving fast. Last year the company's revenue increased by 70.6 percent, while its overseas business grew 83 percent. And based on the expected increase in global demand for oil products, the company anticipates a 130 percent growth in revenue over the next three years.

A development that Damco has helped support, says the company's management, and the two companies are therefore expanding their cooperation, according to a press release.

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