Kanoo Shipping in joint venture with MSCS
Kanoo Shipping has signed a joint venture (JV) agreement with MSCS Holdings, a Hong Kong based shipping and freight services provider, to form a new company called Kanoo MSCS Shipping (Asia).
The project, which is to be incorporated in Singapore and equally owned by both parent companies, will cover port agency services in Asia.
“Asia is a growing market for port agency services and is undoubtedly an important one for Kanoo Shipping," stated Fawzi Kanoo, chairman of Kanoo Shipping.
"MSCS is a reputed shipping and freight services company with a strong network of offices in Hong Kong, China and Singapore. We are delighted to partner with them to form a new joint venture company, which will help both companies achieve further growth and strengthen our operational base in the region," he added.
Kanoo MSCS Shipping will begin operations on 1st July 2010.