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.
In more signs of a turnaround in the container shipping industry, Cosco Shipping Holdings has given positive profit alert ahead of its first half results, forecasting a net profit of about RMB1.85bn ($271.9m) compared to a net loss of about RMB7...
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...
Cosco Shipping Energy Transportation (CSET) has secured a $543.9m loan from the Export-Import Bank of China (China EximBank) to fund the construction of 10 newbuild tanker vessels.
Finnish engine maker Wartsila is expecting “huge growth opportunities” for the group in China’s massive shipbuilding industry, according to president of Wartsila China James Han, who also expressed concerns over the sector’s troubling weight of...
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).
Cosco Shipping Development Co, via its subsidiary CS Investment, has agreed to make a capital contribution of approximately RMB1.76bn ($261.18m) to subscribe to around 584.3m ordinary shares of China Bohai Bank.
Cosco Shipping Holdings has posted a profit for the first quarter, reversing from a loss-making position in the year-ago period, thanks to an improved container shipping market and income from investment.
