China Knowledge reported that Sinotrans Ltd, China leading logistics service provider has agreed to spend USD 36 million to purchase two container vessels from its state owned parent SINOTRANS & CSC Holding Corp.

The Chinese freight forwarding and express delivery service provider said in a statement that it will take the delivery of the two vessels before the end of 2012.

Each of the two container vessels has a capacity of approximately 1,100 twenty-foot equivalent units.

Sinotrans plans to expand its logistics networks and is integrating internal assets to enhance competitive strength. Two of its affiliates Sinotrans Jiangsu and Sinotrans Changjiang combined to form Sinotrans Changjiang Ltd in April this year.

Sinotrans Changjiang is a platform for the parent firm to expand its logistics services in the Yangtze River valley.

(Sourced from China Knowledge)