LC Logistics

What LC Logistics does

LC Logistics (乐舱物流股份有限公司), founded in 2004 and headquartered in Qingdao, China, is an integrated cross-border logistics service provider that has been publicly listed on the Main Board of the Hong Kong Stock Exchange (stock code: 02490.HK) since September 25, 2023. The company provides end-to-end logistics solutions spanning the entire cross-border supply chain — cargo pick-up and sorting, warehousing, customs clearance, cross-border seaborne transportation, warehouse transit, and last-mile delivery — primarily serving Chinese cross-border e-commerce sellers on platforms such as Amazon, eBay, AliExpress, and TikTok Shop, alongside traditional manufacturing, trading, and retail enterprises engaged in import/export trade.

The company's core technology is its self-developed proprietary internet platform Lcang.com (乐舱网), which enables customers to complete the full logistics workflow online including service fee queries, shipping schedule lookups, shipment booking, documentation confirmation, logistics tracking alerts, online account reconciliation, and electronic invoice downloads. The platform also functions as a marketplace aggregating supply and demand. LC Logistics operates a self-operated cross-border seaborne transportation network through subsidiary BAL Container Line Co., Limited, covering North America, Latin America, Europe, Australia, East Asia, and Southeast Asia since 2021, and has ordered two ultra-large 14,700 TEU container vessels from Jiangnan Shipyard for ~2025 delivery.

Revenue is generated primarily through two streams: (1) cross-border logistics services via freight forwarding fees, service charges, and freight rates charged per transaction (transaction fee model), and (2) time charter / vessel leasing services where customers pay charter hire payments, fuel expenses, and port charges (recurring model). Pricing is quote-based per transaction or contract. The company employs 300+ staff across 8+ Chinese offices (Qingdao, Shanghai, Ningbo, Xiamen, Shenzhen, Dalian, Zhangjiagang, Hainan) and 4 international subsidiaries (USA, Vietnam, Singapore, Australia). In the CIFFA 2024 rankings, LC Logistics placed 54th in total operating revenue and 33rd in ocean shipping business revenue among Chinese international freight forwarding and logistics companies.

Name

LC Logistics

Legal name

乐舱物流股份有限公司

Website

https://lcang.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

251–500 employees

Short description

LC Logistics is an integrated cross-border logistics service provider offering end-to-end sea freight forwarding, customs clearance, warehousing, and last-mile delivery, primarily serving Chinese cross-border e-commerce sellers and traditional import/export enterprises via its proprietary Lcang.com platform and self-operated vessel network.

Ownership category

akta.pro rank

Product category

Cross-Border Logistics Services

NAICS

Freight Transportation Arrangement (488510), Deep Sea Freight Transportation (483111), Freight Transportation Arrangement (48851)

SIC

Arrangement Of Transportation Of Freight & Cargo (4731), Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Ocean Freight Brokerage (FCL/LCL) (TLADAMAF)

akta.pro secondary industries

Customs Brokerage for Ocean Shipments (Import/Export Clearance) (TLACABAG), LCL (Less-than-Container Load) Consolidation/Deconsolidation (TLACABAB), Cross-Docking & Transload Facilities (Non-Temp Controlled) (TLALAAAE)

Keywords

• Cross-border logistics
• Freight forwarding services
• Sea transport services
• Customs clearance services
• Warehouse logistics services

Headquarters

HQ city

Qiandao

HQ country

China

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Cross-Border Logistics Services: Provides integrated cross-border logistics services covering cargo pick-up, warehousing and sorting, customs clearance, cross-border seaborne transportation, warehouse transit, and last-mile delivery. Revenue is generated through freight forwarding fees, service charges, and freight rates charged to customers for transportation of goods. The company also procures containers of various specifications and partners with overseas supply chain companies for warehousing and delivery services.
2. Time Charter / Vessel Leasing Services: Provides vessel time charter services by leasing out vessels owned by the company or chartered from third parties. The company provides seaworthy vessels with valid operating licenses and insurance, qualified crew outsourced from third parties, and required repair and maintenance. Customers pay charter fees, fuel expenses, and port charges, and determine shipping routes. Revenue is generated through charter hire payments from customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

LC Logistics provides integrated cross-border logistics services covering the entire logistics chain, including cargo pick-up and sorting, warehousing, customs clearance, cross-border seaborne transportation, warehouse transit, and last-mile delivery. The company also offers vessel time charter services by leasing out owned or third-party chartered vessels and operates a proprietary internet service system (Lcang.com / 乐舱网) for online booking, tracking, billing, and document management.

Product overview

LC Logistics offers an integrated cross-border logistics platform consisting of two core services: Cross-Border Logistics Services covering cargo pick-up, customs clearance, seaborne transportation, and last-mile delivery; and Time Charter Services for vessel leasing. The platform is powered by proprietary internet systems including Lcang.com for customer-facing online services and Sijin International for Shanghai departure routes. The company operates through its subsidiary BAL Container Line for self-operated shipping routes, providing a comprehensive end-to-end logistics ecosystem for cross-border trade.

Differentiator

Problem solved

Functional benefit

Brands

• Lcang.com (乐舱网): Proprietary internet service system for cross-border seaborne transportation services, enabling online order placement, service fee quotation, shipping schedule inquiry, shipment booking, cargo tracking, and electronic invoicing.
• Sijin International (丝金国际)

Products and services

• Cross-Border Logistics Services Integrated logistics services covering the entire cross-border logistics process including cargo pick-up and sorting, customs clearance, cross-border seaborne transportation, warehouse transit, and last-mile delivery. Designed for Chinese cross-border e-commerce sellers and traditional import/export enterprises requiring end-to-end international shipping from China to destination countries.
• Time Charter Services Vessel charter services providing seaworthy vessels with valid operating licenses and insurance, qualified crew members sourced from third-party providers, and required repair and maintenance. Customers pay charter hire, fuel expenses, and port charges and determine shipping routes.
• Lcang.com (乐舱网) Internet Service System Proprietary internet service system enabling customers to place orders online and complete the entire service workflow including service fee queries, shipping schedule lookups, shipment booking, document confirmation, logistics tracking, online reconciliation, and electronic invoice download. The platform also matches supply and demand, attracting third-party service providers.
• Sijin International (丝金国际) Online Transport Platform Online platform operated by subsidiary Shanghai Sijin International Transport Co., Ltd. for cross-border transportation departing from Shanghai, providing online booking of vessel slots, booking status tracking, bill of lading confirmation, account reconciliation, and invoice applications.
• BAL Container Line Cross-Border Shipping Self-operated cross-border seaborne transportation service operated by subsidiary BAL Container Line Co., Limited, providing self-operated shipping routes between China and the United States since 2021, with a self-operated network covering North America, Latin America, Europe, Australia, East Asia, and Southeast Asia.

Quantifiable outcome

• Customer count grew steadily from 2020 to 2022, and average revenue per customer continued to increase during the track record period.
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• MSC (Mediterranean Shipping Company)coreStrategic or Co-development Partner · 15 December 2025LC Energy Technology Co., Ltd. (a subsidiary/joint venture of LC Logistics) signed a cooperation agreement with MSC, the world's largest container shipping company, to collaborate on dual-fuel retrofitting projects for large-scale container ships. MSC founder Gianluigi Aponte personally attended the signing ceremony in Geneva. LC Energy will provide integrated dual-fuel conversion solutions encompassing 'design-procurement-construction-commissioning' for MSC's vessels. The first batch of 10 container ships is scheduled to enter shipyards in mid-2027. This partnership positions LC Logistics' green ship retrofitting capabilities as a global benchmark.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• CN Logistics International Holdings: Hong Kong-listed freight forwarding and logistics company with a similar profile—mid-sized, Asia-rooted, focused on cross-border freight forwarding between China and global destinations. Highly comparable scale and business model.
• Expeditors International: US-listed global logistics company providing ocean and air freight forwarding, customs clearance, and warehousing with strong Asia-North America trade lane coverage. Comparable as an asset-light freight forwarder, though asset-light versus LC Logistics' owned-vessel strategy.
• Kerry Logistics Network: Hong Kong-listed integrated logistics provider with strong presence across Asia, offering freight forwarding (ocean, air, road), warehousing, and cross-border services. Closely comparable business model and Asian-headquartered cross-border logistics focus, though significantly larger.

Regional players

• Yusen Logistics: Japan-based global logistics provider offering ocean/air freight forwarding, contract logistics, and cross-border services with strong Asia presence. Comparable integrated cross-border logistics model though geographically centered on Japan rather than China.

Broad incumbents

• Best Inc. (Best Logistics): China-based supply chain and logistics company with international freight forwarding, cross-border, and supply chain technology offerings. Comparable as a Chinese-listed, tech-enabled, cross-border logistics platform competing for similar Chinese exporter customers.
• Sinotrans Limited: One of China's largest state-backed freight forwarders and logistics providers, offering integrated domestic and international freight forwarding, ocean shipping agency, and supply chain services. Highly comparable as a Chinese-based, full-stack cross-border logistics operator, though far larger in scale.
• ZTO Express: Leading Chinese express delivery and logistics platform with growing cross-border and international freight capabilities. Comparable as a Chinese-listed, China-rooted logistics platform scaling internationally, though its core strength is domestic parcel rather than ocean freight.
• Yang Ming Marine Transport: Taiwan-based global container shipping line with services across Asia, North America, Europe, and Latin America. Comparable as a mid-to-large ocean carrier serving the same deep-sea trade routes as LC Logistics' BAL Container Line.
• OOCL (Orient Overseas Container Line): Major Hong Kong-based container shipping line operating global deep-sea services, now part of Cosco Shipping. Comparable as a Hong Kong-listed ocean carrier serving Asia-North America/Europe trade lanes, though focused almost entirely on ocean shipping rather than integrated logistics.
• COSCO Shipping Holdings: One of the world's largest ocean container carriers and integrated shipping groups, with extensive deep-sea routes and growing logistics/terminal operations. Directly comparable as a Chinese-headquartered ocean freight operator with container shipping at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LC Logistics