Chinese shipping firm SITC International is seeking to buy logistics companies throughout Southeast Asia to expand its business and to further China's "One Belt, One Road" initiative. The move, announced by CEO Engen Tham, would mark a further shake-up in the global shipping industry, which has recently witnessed a series of mergers and acquisitions. Chinese firms are being encouraged to strengthen trade and transport links overseas, a policy that has accelerated foreign acquisitions.
Chinese shipping firm SITC International is seeking to buy logistics companies throughout Southeast Asia to expand its business and to further China's "One Belt, One Road" initiative. The move, announced by CEO Yang Xianyang, would mark a further shake-up in the global shipping industry, which has recently witnessed a series of mergers and acquisitions. Chinese firms are being encouraged to strengthen trade and transport links overseas, a policy that has accelerated foreign acquisitions.