New USTR port fees threaten shipping and global supply chains, says Cosco
With the US Trade Representative (USTR) set to impose port fees on Chinese shipping lines ...
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By Mike Wackett
COSCO’s $6.3bn takeover of Orient Overseas International (OOIL), parent of container line OOCL, is now in doubt, according to Alphaliner.
The consultant said “doubts remain” whether the acquisition could be completed by the 30 June completion deadline.
The deal, announced in July last year, would see COSCO acquire 90.1% of OOIL shares and compatriot container terminal operator Shanghai International Port Group (SIPG) take the balance.
Although COSCO has repeatedly said “the deal is on track”, two preconditions remain outstanding that could derail the transaction, says Alphaliner.
Bizarrely, considering COSCO is ...
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