Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

COSCO offers $6.3 billion for smaller rival Orient Overseas

From US News:

China’s biggest shipping company, state-owned COSCO Shipping Holdings Co., is creating the world’s No. 3 container shipping giant by acquiring rival Orient Overseas (International) Ltd.

Shares in both companies surged Monday following the announcement of the $6.3 billion deal.

A wave of consolidation has created huge competitors in a global shipping industry […]

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Cosco is to buy OOCL – ‘almost a done deal’ says insider

From The Loadstar:

China’s Cosco Shipping may be about to announce that it is to acquire Hong Kong-based carrier OOCL.

An insider source has told The Loadstar a takeover of the container arm of Tung family-led Orient Overseas International (OOIL) is “almost a done deal”.

In January, reports surfaced of a $4bn price tag put […]

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14,000 TEU container ship becomes largest capacity vessel to transit Panama Canal

The container ship OOCL France became on Wednesday the largest capacity vessel to transit the Panama Canal, the agency that operates that inter-oceanic waterway said.

The OOCL France, which is 366.47 meters (1,201 feet) in length and 48.23 meters in beam, eclipsed the previous mark because of its capacity to carry 13,926 Twenty-foot-equivalent units (TEUs, […]

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OOCL breaks largest containership record with 21,413-TEU vessel

The OOCL Hong Kong, with a length of 1,312 feet and a width of 193 feet, will serve the Asia-Europe trade lane as part of the LL1 service.

Hong Kong-based ocean carrier line OOCL has knocked Maersk from the largest containership top spot after christening the 21,413 TEU OOCL Hong Kong at the Samsung […]

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OOCL to evaluate potential partnerships with online retail giants

From Seatrade Maritime:

The advent of e-commerce and its increasing popularity on a global scale have prompted container carrier Orient Overseas Container Lines (OOCL) to evaluate and relook at potential partnerships with online retail giants, according to Andy Tung, ceo of OOCL.

“As a supplier of hard cargo goods, we are still not sure what […]

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Container shipping lines ordered to testify in U.S. sector probe

From Reuters:

The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation over practices by an industry that is the backbone of world trade, the companies said on Wednesday.

The world’s biggest container group, Denmark’s A.P. Moller-Maersk, together with second largest line MSC of Switzerland, Germany’s […]

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CMA CGM and Cosco are most likely takers for OOCL, say analysts

CMA CGM and China Cosco are the two most likely carriers to buy OOCL, should its main shareholders decide to sell the company, according to Drewry Financial Research Services (DFRS).

DFRS claimed the acquisition of Hong Kong-headquartered OOCL and its parent company Orient Overseas International Ltd (OOIL) could represent “the final piece for CMA CGM” […]

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Federal Maritime Commission voices concern about alliances

From Splash 247:

William Doyle, FMC Commissioner, said, ”We’ve been down this road before with language proposed but not implemented by the P3 Alliance and the language in the existing 2M Alliance.”

The creation of the Ocean Alliance – a new container grouping involving China Lines, OOCL, Evergreen, APL and CMA CGM, has hit a […]

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Big shake up for container alliances as CMA CGM announces new deal with COSCO, Evergreen, and OOCL

From Ship and Bunker:

CMA CGM S.A. (CMA CGM) Wednesday announced that it has signed a Memorandum of Understanding (MoU) with COSCO Container Lines (COSCO), Evergreen Line (Evergreen) and Orient Overseas Container Line (OOCL) to form a new shipping alliance, known as “Ocean Alliance.”

Ocean Alliance would control 23.5 percent of the world’s container capacity, […]

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Automated terminal productivity lagging manned operations

Excerpts from the Journal of Commerce:

[T]erminal operators warned the almost 600 BCOs in attendance at TPM not to get too excited too soon about automation because it is hugely expensive. Also, terminal operators are waiting for the approximately 25 automated container terminals worldwide to achieve the level of productivity they were designed to reach.

[…]

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Asia-Europe to take hit as Cosco places mega ship order

Cosco has reportedly ordered nine 20,000-teu ships, with an option for four additional vessels of the same size, according to several news media.

The ultra-large container ship newbuilding order comes just days after Maersk Line ordered 11 similarly-sized vessels of 19,630-teu each. That order came after CMA CGM confirmed it had ordered six 14,000-teu ships, […]

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‘Container shipping CEOs have huge egos’ in ordering megaships, says CEO

Interesting perspective from OOCL CEO in excerpts from a Journal of Commerce article titled ”No escape from ship ordering ‘arms race,’ OOCL head says”

Container shipping lines cannot get out of the large vessel arms race and excess capacity will be a permanent problem, according to Orient Overseas International Ltd. chairman Tung Chee Chen.

“In […]

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OOCL of Hong Kong makes history with order for six 21,000-teu container ships

Samsung Heavy Industries set a new record for the world’s largest container ship order this week with the signing of a deal to build six 21,100-teu container ships from OOCL.

The order of six ultra-large container ships from the Hong Kong-based shipping giant was finalised on April 1 and is valued at about US $950-million.

[…]

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Samsung Heavy: OOCL Mega ships will be a record-breaking 21,100 TEU

From gCaptain:

Some new details released by Samsung Heavy Industries about OOCL’s recent order for ultra-large container ships reveals that the mega ships will be a record-breaking 21,100 TEU.

At 21,100 TEU capacity, the vessel’s are the largest ever ordered to date and the first to break the 21,000 TEU mark as the world’s largest […]

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Big ship order scotches OOCL-APL merger rumors

From the Journal of Commerce:

Orient Overseas International Ltd.’s announcement that it will spend almost $1 billion on the purchase of six 20,000-TEU ships has put an end to speculation that the Hong Kong-listed line was interested in acquiring troubled APL from Neptune Orient Lines.

So with OOIL’s liner division OOCL out of the running, […]

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