CN Logistics’ New Office in the Netherlands Puts into Operation Further Strengthen Business Networks in Europe and Enhance Synergy with Existing Businesses

 

 

[Hong Kong – 27th June 2023] CN Logistics International Holdings Limited (the “Company”), a well-established international logistics solutions provider, is pleased to announce that its subsidiary Allport Cruise Service (“Allport Cruise”), which specialises in cruise logistics, will officially commence operations in the Netherlands in July. This move will further strengthen the Group’s strategic presence in the cruise logistics segment and deepen its global layout, creating greater synergy with the existing air and sea freight forwarding business to promote the overall development of the Group.

 

As a logistics solutions provider with a focus on the high-end fashion and wine sectors, the Group is committed to exploring business verticals with high standards and considerable profit margins. In early 2022, the Group saw a tremendous opportunity in the cruise market in the post-pandemic era and acquired Allport Cruise to develop a new business in cruise logistics. Leveraging its long-term cooperation with many international cruise lines and the synergies built after integrating with the Group’s existing business, a number of tenders for shipments for drydock projects and cruise replenishment were successfully awarded in 2022, contributing approximately US$44 million to the Group’s revenue. The Group also leveraged the new business presence and service capabilities gained in Europe, Southeast Asia, and North America to extend existing services to new markets, developing an all-rounded business and unleashing new potential.

 

While the pandemic gradually recedes, industry research in recent months shows that the global cruise industry is expected to rapidly grow at a Compound Annual Growth Rate (CAGR) of 10.4% and reach US$136 billion by 2031, more than 1.5 times the US$53 billion in 2021. Therefore, to grasp these significant business opportunities and strengthen its business presence as well as service capabilities, Allport Cruise established a new office in the Netherlands. The Netherlands is a strategically important market in Europe for the cruise industry, with fortuitous geographic advantages, well-developed transportation infrastructure, and a comprehensive international sea network, to fulfil the growing demand for cruise logistics services from the market. The new office will officially commence operations in July, and this expansion will allow the Group to build up a stronger global business footprint covering a number of European countries, including Italy, Switzerland, the Netherlands and France; several Asian regions, including Japan, Korea, Mainland China, Hong Kong, Singapore, Vietnam, Taiwan, Thailand, and Indonesia; as well as the North American markets, the United States and Canada. The Group believes that the establishment of the Netherlands office will help reinforce its business layout for cruise logistics and expand the Group’s strategic presence in the world, particularly across the Europe and Asia regions, creating more significant synergies to capture the opportunities in the post-pandemic period.

 

Mr. Lau Shek Yau, the Chairman and Executive Director of the Company, commented, “Establishing the new office in the Netherlands marks another milestone for CN Logistics’ expansion into cruise logistics, further consolidating its leading role as a global logistics corporation. The new Netherlands branch has been joined by Dennis Verhoeven. With his rich experience in the logistics industry and extensive network resources, he will be able to lead the local team forward with a “Passion for Service” of the group. We look forward to building a stronger global network to attain more contracts for replenishment projects as well as stimulate our existing business. As the pandemic is approaching its end, global tourism as well as luxury, fashion, and retail sectors are regaining growing momentum. We will continue to strive for excellence in enhancing our service quality and seize the opportunities in the post-pandemic era to achieve diversified business development. In our corporate development, we firmly believe that ‘even 99% is a failure, but only 100% is good enough.’ We are dedicated and committed to actively delivering greater returns to our stakeholders and shareholders.”

 

 

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About CN Logistics International Holdings Limited

Established in 1991, CN Logistics is a well-established international logistics solutions provider with core business of providing air freight forwarding services and distribution and logistics services in relation to fashion products and fine wine, primarily focusing on high-end fashion (including luxury and affordable luxury) products. According to the CIC Report, the Company ranked first in the distribution and logistics market for high-end fashion products in both the PRC and Hong Kong in 2019. For more details, please visit the Company’s website: https://www.cnlogistics.com.hk