By Mike Wackett (The Loadstar) - Cosco Shipping Holdings resumed trading on the Shanghai Stock Exchange (SSE) today, more than two months after its shares were suspended on the bourse. The move brings an end to speculation that Cosco had another carrier target on its radar, after it announced plans to scoop up OOIL’s OOCL earlier this month. Nevertheless, there remains … [Read more...]
COSCO Deal to Make Ex-Hong Kong Chief, Family $1 Billion Richer
By Robert Olsen (Bloomberg) -- Former Hong Kong Chief Executive Tung Chee-hwa and his family will be about $1 billion richer with the sale of their container shipping line to Cosco Shipping Holdings Co. Tung’s personal net worth will increase by about $400 million to $2.9 billion, according to the Bloomberg Billionaires Index, based on the $6.3 billion Cosco offered for his … [Read more...]
COSCO Buying OOCL Would Create Trans-Pacific Container King
By Kyunghee Park, Daniela Wei and Shawna Kwan (Bloomberg) -- China is the new leader of shipping trade to the Americas. State-owned Cosco Shipping Holdings Co.’s $6.3 billion offer to buy Orient Overseas International Ltd. would create an entity that’s the biggest shipping company moving boxes to the North American continent from Asia, beating Copenhagen-based A.P. … [Read more...]