Sunday, June 11, 2023
HomeHeadlinesCastlery, Maersk sign multi-year logistics partnership

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Castlery, Maersk sign multi-year logistics partnership

Singaporean furniture retailer Castlery and Maersk have signed a multi-year global integrated logistics and fulfilment partnership.

The partnership will enable Castlery to offer delivery for customers, reducing wait times for orders to one to two months, approximately three times faster than the industry average of three to six months.

This comes amid ongoing global supply chain uncertainties as Castlery expands into international markets such as Australia and the US, which contributed to 80 per cent of the firm’s total revenue.

Castlery said it can optimise time and cost savings at various points across the logistics and fulfilment chain, and: scale their business in the US across 50 metropolitan areas more efficiently, by securing freight capacity per year; improve integration and performance between the freight and warehouse stages, by using Maersk Group’s warehousing facilities across the US; ensure more transparent data sharing between the companies.

“Maersk has been a reliable partner to us since our early days, and we are very grateful for the continued partnership against the backdrop of a volatile macro environment and global supply chain uncertainties,” said Declan Ee, Co-founder of Castlery.com.

“Partnering with an integrated logistics partner like Maersk for the long-term gives us an edge in being adaptable and flexible to navigate disruptions and ensure efficient supply chain management.

“Timely delivery is critical in a digital-first furniture business and we remain steadfast in our commitment to provide a seamless shopping experience for our customers in Singapore and the international markets,”

Catering to the needs of its fast-growing international customer base, Castlery has also expanded its warehouse capacity, including the opening of new warehouse facilities in the US to meet customer demands at scale and buffer against future supply chain disruptions.

Globally, Castlery intends to increase its total warehouse capacity by five times, with Maersk as a key partner.

“Maersk Singapore has successfully tapped into our global integrated logistics ecosystem to mount a solution that provides seamless omni-channel fulfilment and last mile delivery for Castlery’s customers,” said Rupesh Jain, Managing Director of Maersk Thailand, Malaysia and Singapore.

“This is in addition to long term ocean space commitments which in effect cuts out any unnecessary nodes that can put strain on Castlery’s supply chains.”

Related Posts

Video

Finance & Economy
Shipping News
Ports

Trafigura publishes 2023 interim results showing a strong performance

Trafigura, a market leader in the global commodities industry, released its 2023 Interim Report today for the six-month period ended 31 March 2023. The results...

Globus Q1 results hit by weak dry bulk market

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2023. Revenue $8.6 million...

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

Celestyal Participates In Promotion Of The Tourist Destination Of Central Macedonia

Celestyal, the award-winning, number one choice for travellers to the Greek Islands and the...

Capesize, panamax gains drive Baltic index higher

The Baltic Exchange’s main sea freight index rose for a fourth straight session on...

Baltic rises to over 3-month peak on firm demand for larger vessels

The Baltic Exchange’s main sea freight index rose on Wednesday to scale its highest...

Baltic index logs best day in nearly 3 months

The Baltic Exchange’s main sea freight index posted its biggest single-day gain since mid-March...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Iraklio port tender set for another delay

The opening of the binding financial offers for 67% of Iraklio Port Authority had been scheduled for Thursday, but this is no longer expected...

APM Terminals extends concession of Kalundborg container terminal

APM Terminals has reached an agreement with the Port of Kalundborg to extend the concession of Kalundborg container terminal by 10 years to 2033. In...

US West Coast port workers shut terminals in showdown over pay

The employers of more than 22,000 dock workers at U.S. West Coast seaports on Friday said the union representing those laborers “is staging concerted...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...