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Report: COSCO’s OOCL Acquisition to Be Finalized by the End of June(marine crane;offshore crane)

oocl.jpgThe proposed takeover of Orient Overseas Container Lines (OOCL) by COSCO Shipping is expected to be completed by June 30, Reuters reported citing COSCO’s vice chairman as saying.

As informed by Huang Xiaowen, the company’s vice chairman, COSCO is in the process of answering questions on the acquisition from the Committee on Foreign Investment in the United States.

The company also needs to get a number of domestic approvals to proceed with the planned acquisition.

In 2017, COSCO Shipping Holdings and Shanghai International Port Group (SIPG)made an offer to buyall issued shares of Orient Overseas International Lines (OOIL), the parent company of OOCL. The offer, made to the shareholders of OOIL, is worth USD 6.3 billion.

Once the transaction is completed, COSCO would hold 90.1% of OOIL, thus becoming the world’s third-largest container carrier. COSCO would have a combined fleet of 400 vessels, with capacity exceeding 2.9 million TEUs including orderbook, pushing CMA CGM from its spot, Drewry said last year.

The acquisition has been approved so far by COSCO’sshareholders, China State‑owned Assets Supervision and Administration Commission (SASAC),the USandthe EUregulators.

(marine crane;offshore crane)


2.jpgOUCO Marine/Offshore Yacht cranes

OUCO Marine/Offshore Yacht cranes and davit cranes can be designed and manufactured based on technological advancements in materials and construction practices by clients’ requirements. OUCO Marine/Offshore Yacht crane has the advantages and feathers of low self weight, easy operation and friendly maintenance, reliable quality and reasonable designing. From light to heavy duty yacht cranes with telescopic booms of extension, we can all provide.

Options

  • Remote control

  • External hydraulic power packs

  • Anti-collision system

  • Design according to rules and regulations API 2C.

  • Class Societies like ABS, CCS, DNV, LR, RMRS, etc.

  • Diesel hydraulic drive

  • Full electrical system

(marine crane;offshore crane)