News / Alibaba bought into parent of new ocean carrier Transfar Shipping

Photo: George James

Chinese e-commerce group Alibaba has a stake in new liner operator Transfar Shipping, which launched operations with China-US west coast sailings in August, The Loadstar has learned.

Singapore-registered Transfar started out as a freight forwarder, owned by Worldwide Logistics (Group), a Chinese 3PL founded in 2003, in which Zhejiang Cainiao Supply Chain Management Co, a unit of Alibaba logistics offshoot Cainiao, purchased a 10.33% stake in September last year.

Market observers told The Loadstar that, while retailers like Home Depot, Walmart, Ikea and ...