News / Li & Fung transforms into a sea freight forwarder with China Container Line buy

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One of the world’s largest retail sourcing companies, Hong Kong-based Li & Fung, is set to undergo a transformation into a major sea freight forwarder, following yesterday’s acquisition of China Container Line.

Li & Fung president and chief executive Bruce Rockowitz said the purchase would, overnight, lead to a 10-fold increase in the number of containers the group handled and transform its logistics arm from one that had focused on moving cargo around Asia on behalf of US and European retailers ...