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Tag Archives: OOCL

Cosco made a $1 billion in profit in 2019

Shipping containers. One is visible with the word COSCO written on it

PortandTerminal.com, January 23, 2020 SHANGHAI – 2019 was a good year for Cosco despite the China/USA trade war. The company has forecast its profit for the full year to be $1 billion, which includes the sale of its Long Beach terminal. READ: Macquarie buys Long Beach Container Terminal from OOCL for $1.78 billion In April, Cosco’s Orient Overseas (International) Limited …

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Macquarie buys Long Beach Container Terminal from OOCL for $1.78 billion

PortandTerminal.com, April 30, 2019 Long Beach, CA – Cosco’s Orient Overseas (International) Limited announced its sale of Long Beach Container Terminal (LBCT) to a consortium led by Macquarie Infrastructure Partners on Tuesday for $1.78 Billion. The sale is following the National Security Agreement entered into by OOIL and its partners with the U.S. Department of Homeland Security and U.S. Department …

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Yilport in talks for $2 billion California terminal deal

PortandTerminal.com, March 22, 2019 Long Beach, CA – Turkey’s Yilport Holding is in advanced talks to buy Long Beach Container Terminal (LBCT), a deal that would value the facility at close to $2 billion, according to a report by Bloomberg yesterday. Cosco is selling Long Beach facility to appease regulators Container terminal ownership at the Port of Long Beach: COSCO …

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Who owns the container terminals at the Port of Long Beach?

Peter Stewart, PortandTerminal.com, January 20, 2019 Long Beach, California – China’s influence at the Port of Long Beach has increased dramatically since its state-owned shipping line COSCO’s acquisition of rival shipping line OOCL. To get the deal approved COSCO has promised to sell off part of their container terminal stake at the port to quell the fears of regulators. Background …

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