Sale of OOCL's key US terminal underway

The sales process of OOCL's terminal in Long Beach, California could start as early as December, reports Fairplay. ShippingWatch has received confirmation from OOCL that the sale is underway.

Photo: Ritzau Scanpix/Nick Ut

OOCL could get started with the process of selling its container terminal in Long Beach, California, as soon as next month, writes Fairplay,

The terminal's sale became actual earlier this year, when Cosco acquired OOCL's parent company, OOIL. The merger of the two non-US firms required the sale of certain assets in order to comply with US legislation on foreign investment.

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