Tag: COSCO Shipping Ports

COSCO offers to give Long Beach Container Terminal to a US operator, aims to close the OOCL takeover in June

Cosco

Cosco Shipping has suggested a solution to the US officials with regards to the Long Beach Container Terminal in order to get their permission for the OOCL acquisition, The Wall Street Journal informs. In July 2017, the Chinese state-run Group offered to buy Hong Kong’s Orient Overseas International Ltd (OOIL), the parent company of OOCL […]

Piraeus used by Chinese criminal firms to smuggle imports

Piraeus Cosco

The European Union and Italian authorities are investigating a large-scale tax fraud by Chinese criminal gangs importing goods via the port of Piraeus, South China Morning Post informs. The news comes as the port’s majority stakeholder, China’s state-run company Cosco Shipping Ports faces problems in the USA with the takeover of Orient Overseas International Lines […]

Noatum undergoes major changes

Noatum Valencia container terminal

Spain’s leading logistics and port operating group Noatum announced several important changes last week. First, the new management team has arrived in Spain to head Noatum Ports. As we wrote earlier, COSCO Shipping Ports Ltd acquired 51% of Noatum Ports in June 2017. The transaction involved the container terminals in Valencia, Bilbao, Zaragoza and Madrid. […]

COSCO buys majority stake in Zeebrugge container terminal from APMT

APMT Zeebrugge

APM Terminals and Hong Kong-based COSCO Shipping Ports Ltd, a subsidiary of China COSCO Shipping Corporation Ltd, have agreed on the sale of APM Terminals’ 76% shares in the APMT Zeebrugge container terminal in Belgium to COSCO Shipping Ports, informed APMT yesterday. Currently, APM Terminals owns 51% in the facility, therefore, it has been agreed […]