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Former UBS China banker receives 9-year sentence in jail for insider trade

A former UBS banker in China has been sentenced to nine years in jail by a Shanghai court, on the grounds of disclosing inside information regarding an acquisition deal in 2017. Documents show that the UBS banker shared information with two associates about a Chinese shipping firm’s acquisition of a Hong Kong company. Though it did not name the companies, Chinese media and the Wall Street Journal noted that it was Cosco Shipping’s $6.3 billion acquisition of Orient Overseas Container Line.

Ocean Alliance to deploy 330 ships on new Day 3 product

French container shipping company CMA CGM announced the launch of the Ocean Alliance Day 3 Product, along with its partners in the Ocean Alliance, COSCO Shipping, OOCL, and Evergreen. A total of 330 ships will be deployed under the new service, which is expected to start from April 2019.

OOCL names last 21,413 TEU container ship

Hong-Kong based OOCL’s sixth and last container ship in the 21,413 TEU series was christened at the Samsung Heavy Industries shipyard on Geoje, on 17 January. The ship, named ‘OOCL Indonesia’, will begin her maiden voyage this month and join her other five sister vessels on OOCL’s Asia-North Europe Loop 1 trade lane.

Second phase of OCEAN Alliance services announced

The second phase of the network will roll out more than 40 services by deploying approximately 340 container ships with an estimated total carrying capacity of 3.6 million TEUs, to form a number of improvements in various areas including service coverage, port pair connections, transit times, schedule reliability and operational efficiency.  

Ocean Alliance announce new service offering

CMA CGM, COSCO, Evergreen and OOCL upgrade their services by offering the “Day Two Product”. This new product, due in April 2018, will have an estimated carrying capacity of around 3.6 million TEUs with around 340 containerships deployed on 41 services.

OOCL launches fifth 21,413 TEU container ship

Hong Kong-based OOCL announced introduction of another 21,413 TEU containership, named the OOCL Scandinavia, into its fleet of world trade ambassadors. This latest ship is the fifth in a series of six ‘G Class’ containerships on order at the Samsung Heavy Industry shipyard.

OOCL names another 21,413 TEU container ship

Hong-Kong based OOCL christened its latest 21,413 TEU containership, OOCL United Kingdom, on 27 September, at Samsung Heavy Industries shipyard, South Korea. The vessel is the fourth in the line of six ordered from SHI.

The box carriers: Consolidate or compete?

While there were 20 global container lines in 2011 operating in a fragmented industry, the recent Cosco’s takeover of OOCL created a new reality in today’s container shipping, where the top four carriers control 53.8% of the world’s container cargo, according to shipping analyst Xeneta.


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