Orient Overseas International informed that Cosco and SIPG acquired Orient Overseas Container Lines. The proposed takeover will cost $6.3 billions. Earlier this month, Cosco had received the decision from the Anti-Monopoly Bureau of the State Administration for Market Regulation of China, not to prohibit the offer.
COSCO SHIPPING Holdings received authorization to takeover Orient Overseas Container Lines. The proposed takeover will cost $6.3 billions, and was given permission at the end of the deadline, which was set for the end of June. Closing of the offer is now subject to the Conditions being fulfilled.
MSRA, Microsoft’s research arm, and Hong Kong-based shipping company OOCL announced partnership in applying Artificial Intelligence research to improve network operations and achieve efficiencies in shipping. The collaboration is expected to nurture over 200 AI developers over the next 12 months.
Geneva-based shipping giant MSC is about to acquire the industry’s first 23,000 TEU container ships, under an order set in September 2017. South Korean shipbuilder Samsung Heavy Industries had confirmed the order of eleven mega container ships at that time, originally reported as 22,000 TEU class.
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.
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.
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.
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.
Chinese state-owned giant COSCO Shipping informed that its acquisition of the Hong Kong-based Orient Overseas International Limited has passed a US anti-trust review.
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.
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