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OOIL ponders sale of terminals arm

Hong Kong: Orient Overseas (International) Ltd announces that following a strategic review it has engaged UBS Investment Bank to advise on a potential disposal of its Terminals Division. The Division comprises TSI Terminal Systems Inc, which operates two container terminals, Deltaport and Vanterm, in the Port of Vancouver; and New York Container Terminal on Staten Island and Global Terminal in New Jersey, both part of the Port of New York and New Jersey. Throughput totalled nearly 2.4m teu in 2005 and showed further strong growth during H1 2006, OOIL reports, and major expansion schemes are planned for both Deltaport and New York Container Terminal. [26/07/06]

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