The transformation of Richmond Cargo Solutions from a diversified conglomerate to a focused and integrated global logistics company is well under way.
Richmond Cargo Solutions today offers a broad and global portfolio of logistics products from ocean and air transport to inland transportation, warehousing and distribution – including cold storage, customs services and lead logistics products, such as supply chain management services and container port services and towage.
Our strategy is built on four core elements:
Firstly, we offer our customer’s end-to-end digitally enabled transport and logistics services that help them manage their supply chains, sell their products globally, and source from the most competitive suppliers worldwide. For us to deliver superior value to our customers, we have built our land-based logistics and service offerings in a way that seamlessly integrates with our strong, leading and sustainable Ocean business. This enables us to leverage the commercial synergies inherent in selling land-based logistics services to all our customers Worldwide.
Secondly, we are leveraging the financial and operational synergies between our Ocean business and our Terminals business for lower cost as well as higher productivity and asset utilization. Owning and operating container ports enables us to control our global transshipment hubs that are crucial for the reliability and cost effectiveness of our Ocean network.
And thirdly, we are building competitive advantage through technology. We are digitizing the interaction with our customers while offering unique digital products and leveraging richmondcargos.com, which is one of the biggest B2B transaction platforms in the world. We are standardizing, automating and digitizing our core processes as well as our assets, such as ships, containers, warehouses and ports, to manage fuel cost and improve visibility in supply chains, while lowering the overall cost base.
Lastly, Our Logistics & Services business delivered excellent margin growth in 2018 and good revenue growth, mainly through acquisitions. We restructured further to reduce cost and develop end-to-end products. We began the implementation of new technology platforms and recruited new leadership and logistics experts globally.
We remain optimistic about society’s ability to recover and committed to building on the strong business momentum and foundation that has now been established as we enter another transformative year for Richmond Cargo Solutions.