COSCO acquires stakes of 12.5% in TLT and 30% in HLT
NewsCOSCO SHIPPING Ports has acquired 12.5% and 30% stakes in Thai Laemchabang Terminal and Hutchison Laemchabang Terminal for US$ 110m.
OOCL and Cosco in new Ningbo deal
Orient Overseas Container Line (OOCL) of Hong Kong has taken a 20% stake in a Yuan780M (US$97.5M) joint venture that will manage and operate a container berth at China’s Ningbo port. It is OOCL’s first investment in a terminal in China outside the SAR. The other partners are stateowned Ningbo Port Group (NPG) with 50%, COSCO Pacific (20%) and SDIC Communications (10%).
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