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).
As part of what it calls a “further simplification” of its business Rolls-Royce has announced it will carry out a strategic review of its commercial marine operation including possible sale to a new owner.
Former highway concession holder turned marine logistics player Silk Holdings is keeping its eye firmly on the ball with its new business direction, saying it will be focusing more on its downstream marine logistics business as its upstream tanker business slows down in line with the oil market slump.
Signalling its shift in focus to maritime, Silk Holdings said it plans to use over half of the proceeds from the divestment of its highway concession holding unit Sistem Lingkaran-Lebuhraya Kajang to strengthen its maritime logistics business.
Beleaguered private shipyard group China Rongsheng Heavy Industries which is in the process of divesting its yard business to focus on its energy division, also continued to face working capital and liquidity issues in addition to having its revenue stream turn negative as a result of the divestment decision.
Malaysian sovereign wealth fund Khazanah Nasional is reportedly looking to divest its stake in major port operator Westports Holdings, local reports said.