U.S-Thailand Trade May Benefit From CaroTrans/LEO Partnership
At a time when the global trade and shipping news out of Thailand has not been encouraging, there was one positive sign in the partnership announcement between two prominent NVOCC (non-vessel operation common carrier) companies.
Ocean freight consolidator CaroTrans has entered a “significant” partnership with market leader LEO Global Logistics Group, merging resources that include a professional team of 350 located in three Thailand offices.
The partnership includes one LEO group devoted to supporting U.S. trade, much needed given predictions of further export contraction due to a number of risk factors. These include ongoing economic uncertainty in China, Japan, and the European Union, as well as fluctuating oil prices and terrorism concerns.
Current U.S.-Thai trade encompasses a wide range of products, from apparel, gems and jewelry to medical supplies and auto parts. If the Trans-Pacific Partnership (TPP) trade agreement is ratified, supporters believe it would dramatically increase exports to Thailand and other Pacific Rim nations, by eliminating taxes on Made-in-America exports.
Will TPP ratification mean that trade with Thailand and the U.S. will expand enough to materially affect the American economy? Probably not, but through this relationship, LEO and CaroTrans could see a significant increase in their business.
The CaroTrans-LEO partnership will deliver direct, weekly U.S.-Thailand less-than-containerload (LCL) and full containerload (FCL) services: imports will be dispatched from Bangkok to Los Angeles and New York; exports will flow from New York, Los Angeles and Chicago to Bangkok.
“This simpatico business relationship with LEO creates an extremely solid team devoted to the highest level of LCL and FCL ocean transportation services that support the efficiency and reliability of global supply chains,” said Greg Howard, CaroTrans, CEO. “Our similar cultures provide a common vision which is to put our customers in the center of everything we do.”
The similarities in corporate philosophy referenced by Howard are reflected in the firms’ shared commitments to educational and social programs that assist communities where they do business.
CaroTrans has been an avid supporter of Duffy Books in Homes, a non-profit “community literacy ambassador” working to inspire a love of reading in children. The organization provides needy elementary schools in all 50 U.S. states with access to books, so children can increase their reading literacy and communicate and thrive as adults.
LEO supports various giving programs including My School Project, another organization that raises funds to support education. The company provides school materials, and LEO personnel volunteer their time to repair school buildings and create a more constructive learning environment.
“By joining forces with CaroTrans, we have formed a winning team of like-minded professionals committed to industry-leading service, resources and support,” said Kettivit Sittisoontornwong, CEO of LEO Global Logistics Group. “Together, we’re dedicated to providing transportation solutions and logistics support that addresses their customers’ needs for reliable, efficient services.”