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.

 

 

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