KTS, Kintetsu sign freight deal

Shipping and logistics company Kuwait Transcontinental Shipping (KTS) has signed a global freight forwarding agreement with Kintetsu World Express (KWE).

Under the agreement, KTS will be the exclusive partner of KWE for the movement of cargo between Kuwait and worldwide destinations with the Japanese forwarder.

Established in 1970, KWE says it is the world's seventh largest freight forwarding company. The fast-growing company aims to become the ''trans-pacific leader'' by becoming the number one service provider in the inter-Asia and Pacific Rim. KWE now has more than 8,000 employees in 30 countries.

Mikko Wieru, General Manager of KTS, said the collaboration allows KTS to offer customers the benefit from the partner's global network and strong links to the Asia Pacific markets.

"The expected volume growth from this deal will enable us to expand our market share which is inline with our strategic goal to consolidate our leadership position in Kuwait. We are also looking at opportunities to develop our Iraq business," said Wieru.

Yoshinori Watarai, KWE's Director for South-East Asia and Middle East region, said the tie-up will enable KWE to leverage the local expertise and knowledge of KTS.

"It will help us to further enhance the company's competitive strengths in the region for strategic business development," he said.