CNL’ Cruise Logistics Revenue Reached USD 20 million in 1H 2022; Number of Orders Surged by 3 Times

CN Logistics International Holdings Limited

(Incorporated in the Cayman Islands with limited liability)

 

Cruise Logistics Revenue Reached USD 20 million in 1H 2022

Number of Orders Surged by 3 Times

 

[Hong Kong – 20 July 2022] A well-established international logistics solutions provider, CN Logistics International Holdings Limited (the “Company”, together with its subsidiaries, the “Group”, stock code: 2130), has always been devoted to providing one-stop and comprehensive logistics services to high-end customers, and acquired Allport Cruise Logistics Inc. (“Allport Cruise”) earlier this year to extend its business footprint to cruise logistics. The Group is delighted to announce that, according to the initial accounts for the first six months of 2022, the revenue of Allport Cruise increased from USD 6.7 million in 1H2021 to USD 20.0 million. Its excellent financial performance reflects the Group’s success in riding on the recovery of the global economy, expanding into the promising cruise logistics service and building a diversified business portfolio.

 

The recovery of the global tourism industry is accelerating, following the gradual lifting of travel restrictions and distancing rules in countries around the world. The “World Economic Outlook” predicts that the tourism industry will grow by 43.7% in 2022, reaching USD 8.4 trillion, while recovering back to the pre-pandemic levels in 2023. Focusing on the provision of drydock materials and regular replenishment services to international cruise lines, Allport Cruise received a multitude of partnership opportunities with large-scale cruise lines, with number of orders rising by approximately three times. The Group believes that the logistics demand for cruise operations, regular repair and maintenance by cruise lines would keep rising with the continued recovery of the tourism industry, and Allport Cruise would sustainably be benefited from the increasing demand for related supply chain services.

 

Mr. Ngan Tim Wing, Executive Director and Chief Executive Officer of CN Logistics commented, “Expanding into cruise logistics is an important milestone for the Group to extend its premium market positioning and to develop into a comprehensive global logistics service provider. In terms of strategy, the inclusion of Allport Cruise could provide great synergies with our current businesses. Leveraging on Allport Cruise’s commercial network, we could further develop into the North American market and attract more high-end brand customers, while broadening our business vertical to fine food and beverages, echoing our focus on high-value, high-potential product segments. We will actively improve the performance of Allport Cruise in the future and discover more opportunities through the expanded resource network.”

 

About CN Logistics International Holdings Limited

Established in 1991, CN Logistics is a well-established international logistics solutions provider with core business of providing air freight forwarding services and distribution and logistics services in relation to fashion products and fine wine, primarily focusing on high-end fashion (including luxury and affordable luxury) products. According to the CIC Report, the Company ranked first in the distribution and logistics market for high-end fashion products in both the PRC and Hong Kong in 2019.