DP World has completed its acquisition of Cargo Services Far East, a global supply chain provider based in Hong Kong.
Cargo Services is a leader in origin services, managing the movement of goods from the factory to the customer. The company employs over 2,500 people across Greater China, Asia, Europe, South Africa, and the United States.
With this acquisition, DP World’s workforce has grown to over 115,000 employees across more than 800 global locations. By the end of the year, the company will operate over 200 freight forwarding offices, covering up to 95% of international trade flows.
“Cargo Services’ logistics expertise and global network perfectly complement our own footprint and will be yet another tool in our offering to customers. Together, we’ll create a powerful force propelling trade globally. By combining our strengths — technology, a growing logistics portfolio and strategic infrastructure – with Cargo Services’ expertise and network, we will be able to offer unparalleled value to customers seeking to strengthen existing trade ties or enter new markets. We are very excited to welcome our new colleagues, as they join us on this pivotal step in our growth journey,” stated Sultan Ahmed bin Sulayem, Chairman & CEO of DP World Group.
Founded in 1989, Cargo Services was one of the first foreign logistics service providers to enter the Chinese market. Over the years, it has developed a comprehensive range of solutions, including origin purchase order management, ocean freight, air freight, and warehousing, serving diverse sectors. The company also offers sophisticated supply chain management services, particularly for retail and high-fashion clients in markets like the US, UK, Europe, South Africa, Australia, and New Zealand. Additionally, it has expanded into specialised cruise logistics services worldwide.
“By joining DP World, we will gain access to extensive resources and expertise, allowing us to continue delivering top-tier freight-forwarding and logistics services that our customers demand. With a shared vision and strategy, I am confident that our respective teams will come together seamlessly to deliver growth,” commented John Lau, Group Managing Director of Cargo Services Group.
The acquisition is now officially complete, with full integration planned over the coming months. To support a seamless transition, John Lau will stay with the company, taking on a senior leadership role within DP World.