COSCO-OOIL merger will create an Industry Leader : OOIL Chairman C C Tung

HONG KONG: The merger of Orient Overseas (International) Limited and COSCO Shipping Holdings offers ‘tremendous opportunities’ for both businesses, especially when it comes to combining strengths in the duo’s liner sectors, outgoing Chairman of OOIL, C C Tung, said commenting on the deal. COSCO and Shanghai International Port (Group) concluded the acquisition of OOIL’s shares
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Are we going to operate under one brand or separately as two companies? Are the two companies going to be managed under unified mode or independently? Upon closing of the transaction, COSCO SHIPPING Holdings will hold the two liner companies simultaneously. The two liner companies will maintain existing operational models and management channels. COSCO SHIPPING
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Following COSCO’s completion of its takeover of Hong Kong’s OOIL, parent of Orient Overseas Container Line (OOCL), the two will operate a combined fleet of around 400 vessels, totalling 2.7 million TEUs, which will grow with the 19 vessels on order, boosting capacity to 2.93 million TEUs by the end of the year, it is
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HAMBURG : The Port of Hamburg was one of those called by one of the world’s largest containerships during her maiden voyage. With her slot capacity of 21,237 TEU, the ‘Cosco Shipping Universe’ set a fresh record in the Hanseatic City. The ULCS – Ultra Large Container Ship – berthed at HHLA’s Tollerort Terminal towards
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Naval Dome CEO Itai Sela comments on COSCO cyber-attack: “Reports that cyber hackers have successfully attacked COSCO Shipping Line’s Long Beach customer service centre, is very worrying indeed. While COSCO shut down its connections as a precautionary measure, we have to emphasise that ships are not islands, they are not self-contained units. This is a
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BEIJING: China’s COSCO Shipping Holdings has taken the control of Orient Overseas Container Lines (OOCL) as it completed the acquisition of the company’s majority stake. OOCL’s parent company, Orient Overseas International (OOIL), informed that the COSCO Shipping and SIPG finalized the acquisition of more than 50% of the issued share capital of OOCL. As of
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China COSCO Shipping Energy and COSCO Shipping Bulk have ordered new builds with engines that allow for conversion to dual-fuel operation to prepare for upcoming marine regulations, global technology company Wartsila said Wednesday. This is significant because it gives ship owners and operators the flexibility for conversion at a later stage ahead of impending environmental
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The Nigerian Ports Authority (NPA) has suspended the shipping services of Maersk Line, Cosco Shipping and two other shipping firms for ten days, effective from July 14. Namely, the Danish and Chinese shipping giants, along with APS and Lansal, were served the suspension after an investigation by NPA showed that the companies failed to comply with the directive
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BEIJING: COSCO SHIPPING LIBRA, another 20,000 TEU containership built by Dalian Shipbuilding Industry Co., Ltd. (DSIC) for COSCO SHIPPING Lines, was named and delivered on July 17, 2018. Ms. Sun Yueyin, Chief Financial Officer of COSCO SHIPPING and Mr. Wang Liang, Assistant to the President of China Shipbuilding Industry Corporation (CSIC) and Party Secretary and
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China’s COSCO Shipping Holdings said on Sunday a key U.S. review body has cleared its planned $6.3 billion acquisition of shipping firm Orient Overseas International Ltd on security issues. COSCO said on June 30 that all pre-conditions for the OOIL offer made last year had been met after receiving approval by the Chinese anti-monopoly regulator.
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