From Asia to the US for the First Seven Months of 2020
2020-08-18 Hong Kong
Kerry Logistics Network Limited (‘Kerry Logistics’; Stock Code 0636.HK) is pleased to announce that Kerry Apex, its indirect wholly-owned subsidiary, was the number one non-vessel operating common carrier (‘NVOCC’) from Asia to the US from January through July 2020, supported by a well-positioned team in Southeast Asia to capture the export volume shift from China to Asia.
Kerry Apex was the third largest NVOCC in terms of volume from Asia to the US in 2019. In the first seven months of 2020, Kerry Apex outperformed the market by recording a 6% growth in volume against the market trend of a 7% contraction in the same period.
Kerry Apex shot to the top spot through capturing the volume shift from China to Southeast Asia by a strong regional team perfectly situated to handle the volume surge, earning additional origin-controlled shipments and winning new customers, on top of the increased demand from existing customers who restocked their inventory. Kerry Apex was also able to build on its long standing relationships with ocean-carrier partners who helped it to secure the space needed to move its customers’ freight from Asia to the US. Kerry Apex’s achievement was made possible by the tremendous support from within Kerry Logistics’ global network both in origin and destination.
Vicky Cheung, Executive Director of Kerry Logistics Network, said, “We are gratified to see that the efforts of our team in Southeast Asia and the relationships we have built with our partners have paid off. While the protracted US-China trade war and the as-yet-uncontained COVID-19 pandemic are clouding the horizon, we are confident that we will maintain our leading position in ocean freight for the rest of 2020.”