Maersk signs MoU with Zinus

A.P. Moller-Maersk (Maersk) has signed a Memorandum of Understanding (MoU) with e-commerce furniture company Zinus, to become its preferred global integrator of logistics.

Under this MoU, both companies expressed their intent for Maersk to provide a stable supply of shipping containers in 2022, as well as additional logistics services. Over the next 10 years both parties will work to continually to grow and strengthen the strategic partnership.

By working with Maersk to secure these shipping containers, Zinus will be able to meet its shipping needs and stabilise ocean freight expenses.

“We are very excited for this opportunity to work with Maersk. This strategic cooperation will allow us to reduce our logistics risks during a period when the world is suffering from global supply issues due to the shortage of shipping containers and high ocean freight rates,” said Seonkyoo Park, Senior Director of Zinus Global SCM.

“We believe this MoU will also serve as a springboard for Zinus to continue our global business even beyond the 16 countries where we currently operate.”

Ditlev Blicher, Head of Asia Pacific at Maersk, added “As a leading global ecommerce furniture company which has been enjoying rapid growth, Zinus’ significant growth plans require a state-of-the-art logistics platform for their continued expansion.

“With digitally-enabled, seamless, end-to-end solutions based on a world leading network of terminals, vessels and inland facilities, Maersk proudly stands committed to enable the continued growth journey of this remarkable company.”

Maersk has also announced the launch of its Green Finance Framework designed to allow the company to issue a variety of sustainable financing instruments which may include bonds, loans, project finance and other instruments.

“Issuing Green Financing instruments is a further step to integrating sustainability into our financing operations as it is an effective tool for channeling investments to projects with positive environmental impact and thereby contributing to the achievement of the UN Sustainable Development Goals (SDGs) and the Paris Agreement,” said Patrick Jany, Chief Financial Officer at Maersk.

“With this green bond, we aim at diversifying our investor base by reaching out to new investors and increasing the transparency of our ESG ambitions and performance even further towards our stakeholders.”

Maersk recently made headlines as it has taken steps to form a partnership with freight transportation company Grindrod to enhance its capabilities as an integrator of logistics in South Africa. Announced in November 2021, Maersk stated the partnership will complement its current ocean capabilities and logistics services, enabling customers seamless access to a wider range of end-to-end supply solutions.