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).

Orient Overseas (International) Limited (OOIL) subsidiary Gold Talent has entered into the investment and cooperation agreement with Cosco Shipping Logistics and JD Logistics to establish the joint venture for e-commence market expansion.

Expanded Cosco Shipping Holdings remained in the black in 2018 with a RMB1.23bn ($183.4m) profit and both its container lines, Cosco Shipping Lines and Orient Overseas International Ltd (OOIL), were profitable and reported significant improvement.

Orient Overseas Container Line (OOCL) has confirmed plans for a 2020 low sulphur cap bunker surcharge.

Orient Overseas Container Line (OOCL) has increased its lifting volumes in the first half of 2017 compared to the year-ago period, according to an operational updated from the carrier’s parent firm Orient Overseas (International) Limited (OOIL).

China Cosco Shipping Corporation Limited (Cosco Shipping) has provided more information regarding its $6.3bn takeover bid for family-owned Orient Overseas (International) Limited (OOIL), in particular on the risk associated with anti-monopoly approval and the listing status of OOIL in Hong Kong.

The Shanghai Stock Exchange (SSE) has asked Cosco Shipping Holdings to provide further details on its recently announced offer to takeover Orient Overseas (International) Limited (OOIL), including a clarification on the listing status of OOIL on the Hong Kong Stock Exchange (HKSE).

China Cosco Shipping Corporation Limited (Cosco Shipping) has offered to acquire Orient Overseas (International) Limited (OOIL) at a price of $6.3bn, confirming earlier rumours of the takeover deal that has been circulated since January this year.

The extended shares trading suspension of Cosco Shipping Holdings prompting media reports of an imminent acquisition of Orient Overseas Container Line (OOCL) have thus far turned out to be “unsubstantiated speculations” and an actual deal “is still far from certain to go through”, according to analyst Alphaliner.

Orient Overseas International Ltd (OOIL) has again denied media reports that cited sources as saying that China’s Cosco Shipping is preparing to acquire its container shipping unit Orient Overseas Container Line (OOCL).

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