Cosco could be forced to surrender key US port

US authorities are worried that Cosco is poised to take over the key port in Long Beach after its acquisition of OOCL, reports the Wall Street Journal. The US has yet to approve the merger.

Photo: Ritzau Scanpix/Nick Ut

Chinese shipping group Cosco could be forced to surrender a key terminal in the US after competition authorities have voiced concerns about the transaction.

The terminal in Long Beach, California is part of Cosco's billion-dollar acquisition of liner company Orient Overseas Container Lines (OOCL). The merger was announced last summer and now only awaits approval from US regulators.

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