OOIL – Cosco Announcement

by | Jul 11, 2017

As part of Uniserve’s ongoing committment to keeping our clients fully informed of market changes, we would like to share some important industry news about Orient Overseas (International) Limited (OOIL).

The company has announced that COSCO SHIPPING Holdings Co., Ltd. (COSCO SHIPPING Holdings) and Shanghai International Port (Group) CO., Ltd. (SIPG) have offered to acquire OOIL, pending relevant regulatory and COSCO SHIPPING Holdings shareholder approvals. Full details of this announcement are available on the OOIL website, www.ooilgroup.com.

Uniserve Seafreight Director Steve Ireland commented: This was always going to happen and it has been muted for the past couple of years that COSCO would buy OOCL. It was just a matter of when. From a freight buyers’ perspective it will mean there are even less options going forward.‘’

OOIL say it is their intention to remain publically listed on the Hong Kong Stock Exchange and to continue to operate as an independent brand, with their global headquarter function retained in Hong Kong.

Uniserve, being a market leader on Asia-Europe, has partnerships with all carriers and consortiums operating on these routes; offering full coverage for full loads and groupage services to the UK and mainland Europe. For further information on Uniserve’s international services and supply chain solutions, email info@ugroup.co.uk or call 01708 259400.

 

 

More News…..

Sydney: Storms Impact Logistics

Storms lashed Sydney and neighbouring regions early Wednesday morning, causing flash floods that have brought transport and logistics to a standstill.According to reports, within just two hours of the storm, Sydney had its average monthly rainfall.There has been a...

Snow Storms Impact US flights

As the Thanksgiving weekend came to a close on Sunday, airline flights faced delays and cancellations in the US Midwest due to a winter storm.Across the US, more than 1,250 flights had been canceled on Sunday and another 4,775 delayed, with nearly 275 U.S. flights...

China Expo Lands $58 Billion In Deals

The first ever China International Import Expo was held last week and reports suggest that around $58 billion of deals were agreed during its six day duration.Thousands of foreign businesses joined together with Chinese buyers to attend the trade event, which was held...

Share This

Please Share This Article

It only takes a couple of clicks and it would be greatly appreciated! Many Thanks