The company’s Logistics Hub Phase 1 on Singapore’s Jurong Island has about 46,450 sq m of warehousing space. It reached full utilisation three months after its 2021 opening, maintaining a 90% inventory level. Jurong Island houses many large chemical enterprises but has limited warehouse space,” notes Gu Jingsong.
For Cosco Shipping International (Singapore) Co, forging new paths to growth has reaped success. Since 2018, the company has invested significantly, including acquiring logistics company Cogent Holdings, to shift its main business from shipbuilding, ship repairing and marine engineering to integrated logistics.
The company now commands a strong position in the sector, with more than 300,000 sq m of warehousing space, a fleet of over 100 trucks each in Singapore and Malaysia, and a 40% stake in PT Ocean Global Shipping Logistics, an Indonesian shipping logistics company. Cosco is also establishing networks in Vietnam, Thailand and other Southeast Asian markets.
