Thanks to such cost and environmental advantages, the US intermodal logistics market is forecast to grow at a compound annual growth rate of 10.9% through 2030 from the current market value of $59 billion, according to the Intermodal Association of North America (IANA).“This joint venture will serve as a strategic foothold for our penetration into the U.S., the world’s largest logistics market,” Lee Yong-ho, chief executive officer of LX Pantos, said in a statement.“We are committed to advancing our end-to-end logistics services by integrating international shipping with inland rail services, further strengthening our market position.”NEW REVENUE STREAMThe US JV with ONE is expected to create a new revenue source for LX Pantos grappling with falling sales in its mainstay businesses in recent years.
LX Pantos Co., South Korea’s largest logistics company under LX International Corp., has advanced into the US intermodal logistics market jointly with Ocean Network Express (ONE), Japan’s largest container shipper.
Because intermodal logistics service uses the same container for the freight when transferred between modes of transportation, it significantly reduces the amount of cargo handling and costs.
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