Cosco Shipping’s acquisition of Orient Overseas Container Lines (OOCL) has received approval from Chinese anti-trust authorities.
Cosco announced its intention to buy OOCL's parent company, Orient Overseas International Ltd (OOIL), for HKD49 billion (USD6.3 billion) last year, as HLPFI reported here.
The latest consolidation in the global maritime industry will see the two members of the Ocean Alliance combine their activities and operate more than 400 vessels, with a capacity exceeding 2.9 million teu.
www.ooilgroup.com
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