China’s Cosco Gets U.S. Security Clearance to Purchase Shipping Rival

National security review body says it has no outstanding issues related to Orient Overseas deal
 
Cosco’s takeover of Orient Overseas will help the Chinese shipping conglomerate become the world’s third-largest container shipping operator. PHOTO: ALEJANDRO BOLÍVAR/EUROPEAN PRESSPHOTO AGENCY
 
Cosco Shipping Holdings Co.’s takeover of rival Orient Overseas International Ltd. has received the blessing of a U.S. national-security review body, removing a major overhang of the $6.3 billion deal.


China’s state-run Cosco said Sunday the Committee on Foreign Investment in the U.S. has cleared its planned takeover of the Hong Kong-based container shipping operator, after Cosco agreed to place a large container terminal in Long Beach, Calif., into a U.S.-run trust and put it up for sale.
 
CFIUS doesn’t have any outstanding “unresolved national security issues” related to the takeover, after the companies signed an agreement with the U.S. departments of Homeland Security and Justice regarding the proposed divestment of the Long Beach terminal,......

 If you want to see more pictures, and learn more,pls click here:http://sowoll.com/en/dnewsdetail/853.html

评论

发表评论

此博客中的热门博文

LONG BEACH PORT IS CLOSE TO BE AT A STANDSTILL

图片
According to JOC's report on January 9, the congestion situation in Los Angeles-Long Beach Port has become worse and worse. Due to factors such as the shortage of labor during the New Year's Day holiday, some port areas of Long Beach Port are close to the state of shackles! The problem of terminal congestion is due to the cumulative factors of Christmas and New Year's Day holiday. According to the contract of the dock union, these two holidays are non-working days. Christmas Eve and New Year's Eve are half-day work. At the same time, because a group of experienced workers choose to take annual leave during this period, the terminal uses a lot of inexperienced temporary workers. Work efficiency reduced. Other factors include the fact that importers are rushing to import a large number of spring commodities before 1st January, as importers are concerned about the possibility that Trump may impose an additional 25% tariff on Chinese products. At the same time, empty ca...
阅读全文

Indonesia ferry sinks with 139 passengers leaving 12 dead and throwing cars into sea

图片
At least 12 people are dead after a ferry ran aground and took on water off Indonesia's coast, forcing terrified passengers to leap into the sea and wait for rescue. The dead include a two-year-old boy and a three-year-old girl, officials say. Passengers snapped dramatic photos as they clung to railings onboard the sinking vessel which was carrying up to 139 people and didn't have enough life jackets for everyone. Learn more: http://sowoll.com/en/blog/post/384-indonesia-ferry-sinks-with-139-passengers-leaving-12-dead-and-throwing-cars-into-sea   #Logistics
阅读全文

PORT OF OAKLAND CONTINUOUSLY TWICE BREAK RECORD

图片
Maritime observers follow cargo volumes closely in the August-through-October period. That’s considered the traditional peak shipping season.  It’s the time of year when U.S. retailers accelerate import orders for holiday merchandising. The Port reported that import volume increased 5 percent last month over September 2017 totals. August 2018 imports were up 9.2 percent compared to the same month last year, the Port added.  Continued strength in the U.S. economy, spurred by consumer spending, is driving the import surge, the Port said. “We’re encouraged by this outcome and guardedly optimistic that the trend will continue throughout peak season,” said Port of Oakland Maritime Director John Driscoll. “Economic indicators lead us to believe that import volumes should remain healthy.” The Port said it has handled the equivalent of 168,289 20-foot loaded import containers in the past two months.  That breaks the previous August-September record of 158,320 20-foot loa...
阅读全文