Latest news from Heavy Lift & Project Forwarding International Magazine

Cosco's OOCL acquisition on track

Cosco Shipping's planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, according to Reuters.

In a press conference held earlier this week, the Chinese carrier's vice chairman, Huang Xiaowen, reportedly confirmed that the deal is still awaiting a number of domestic approvals as well as approval from the USA, where OOCL has assets.

Cosco announced its intention to buy OOCL's parent company, Orient Overseas International Ltd (OOIL), for HKD49 billion (USD6.3 billion) last year, as HLPFI reported here.

According to Reuters, the company also said that it is keeping a close eye on rising trade tensions between China and the USA, although Wang Haimin, Cosco's general manager, said there is currently little evidence that the tensions were affecting cargo volumes.


www.ooilgroup.com
en.chinacosco.com
www.oocl.com

Heavy Lift | News

RSS names Maslen thumbnail image

RSS names Maslen

February 19 - Rope and Sling Specialists (RSS) has named Sean Maslen as regional sales manager for southwest UK.
Views: 78
Peel Ports invests in Great Yarmouth thumbnail image

Peel Ports invests in Great Yarmouth

February 19 - The UK’s port of Great Yarmouth, part of the Peel Ports group, has taken delivery of an LHM280 mobile harbour crane from Liebherr.
Views: 111
Tiong Woon sets up in Bangladesh thumbnail image

Tiong Woon sets up in Bangladesh

February 19 - Singapore-headquartered Tiong Woon Corporation has established a wholly owned subsidiary in Bangladesh.
Views: 133
Slowing growth threatens shipping thumbnail image

Slowing growth threatens shipping

February 19 - As the International Monetary Fund (IMF) revises its predictions for global growth in 2019 and 2020 - down to 3.5 percent and 3.6 percent respectively - BIMCO says the risks are piling up for the shipping industry.
Views: 139

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.