• Udenna consolidates logistics businesses

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    Udenna Corp., the parent company of Phoenix Petroleum and Chelsea Logistics Corp, said it will expand its logistics business via 2GO and its shipping operations.

    “Aside from creating synergies among 2GO, our existing shipping operations and other businesses in other sectors, we look forward to expanding Chelsea Logistics to become the prime mover of goods and passengers in the Philippines,” Dennis Uy, the new president and chief executive officer of 2Go Group Inc., said in a statement Tuesday.

    Through Chelsea Shipping, Udenna went into the logistics business in 2006, mainly to support the operations of Phoenix Petroleum.

    Appointed by the board of directors last week, Uy sits as chairman of Udenna. He replaced retired President and CEO Sulficio Tagud Jr.

    Uy said the Duterte administration’s thrust to boost infrastructure is an opportunity for the logistics business to prosper in the country.

    “The government’s infrastructure push, in particular, will allow the logistics sector to better serve Filipinos across the archipelago and, at the same time, meet the growing demand for such services,” Uy said.

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