Cosco Delivery Specialised Carriers has joined forces with SAIC Anji Logistics, the transport arm of Chinese language automaker SAIC Motor and Shanghai Worldwide Port Group’s SIPG Logistics to create a brand new car-carrier firm.

In a regulatory submitting, the Shanghai-listed firm mentioned the registered capital for the brand new joint firm is CNY650m ($94m). Cosco would be the main stakeholder of the brand new tie-up firm with 42.5% possession, adopted by SPIG Logistics with 37.5% and the remainder by SAIC Anji.