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Orient Overseas (International) Limited (OOIL) has sold its Long Beach Container Terminal (LBCT) for $1.78bn to a consortium led by Macquarie Infrastructure Partners (MIP).

Cosco Shipping Holdings is to sell the Overseas Orient International Ltd's (OOIL) Long Beach Terminal business to satisfy the requirments of the Committee on Foreign Investment in the United States (CFIUS) in its takeover of the Hong Kong-based container line.

Greece’s Aegean Marine Petroleum Network has confirmed that it will acquire marine fuel and assume a storage contract with Vopak Terminal Los Angeles at an auction of OW Bunker’s assets.

OW Bunker’s US West Coast operations are now in place, with a fully operational physical distribution covering the ports of Los Angeles and Long Beach.