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.
COSCO and partners extend OCEAN Alliance for five years
Chief Executive Officers of COSCO, CMA CGM, Evergreen, and OOCL have signed a Memorandum of Understanding to extend the OCEAN Alliance until 2032.
COSCO SHIPPING has announced that the OCEAN Alliance on 27 February 2024 signed documents to agree on the extension of the OCEAN Alliance for five years, until 31 March 2032.
COSCO added in its press release: “Since April 2017, OCEAN Alliance has provided high-quality products with more frequency and coverage to meet the requirements of customers to cope with the increasing global trade development. OCEAN Alliance partners continue to serve our respective customers to earn a reputation for providing high-quality services in the market.
OCEAN Alliance would like to deliver a clear and positive signal to our customers to ensure stable and reliable service by extending the cooperation for at least five years. We are convinced that as a sustainable alliance, we can provide continuous high-quality transportation to our customers and contribute to a stable supply chain, in compliance with all applicable laws and regulations.”