DP World acquires HK based Cargo Services Far East

DP World has completed the acquisition of the Hong Kong-based supply chain provider Cargo Services Far East Ltd. Post the acquisition, UAE-based DP World plans for full integration over the next few months. By the end of 2024, it will be offering services through 200 freight forwarding offices, covering 95 per cent of global trade flows. “Cargo Services’ logistics expertise and global network complement our own footprint and will be yet another tool in our offering to customers. Together, we will create a powerful force propelling trade globally. By combining our strengths—technology, a growing logistics portfolio, and strategic infrastructure—with the Hong Kong-based firm’s expertise and network, we will be able to strengthen existing trade ties or enter new markets. We are excited to welcome our new colleagues, as they join us on this pivotal step in our growth journey,” Sultan Ahmed bin Sulayem, Group Chairman & CEO, DP World, said.