DP World, ICTSI Make Most Sense For COSCO’S Long Beach Departure — Panjiva


DP World, ICTSI Make Most Sense For COSCO’S Long Beach Departure

Corp - Ports 663 Corp - Shipping 610 Mergers 200 Mode - Containerized 1006 Mode - Seaborne 1275 U.S. 3306

COSCO Shipping Holdings will sell Orient Overseas’ Long Beach port assets to ensure CFIUS approval for its purchase. That will allow the combined business to restructure its North American services unencumbered. The two container-lines use of Long Beach has seen a slowdown in growth in the second quarter with a 5% rise in inbound volumes vs. a year earlier compared to 22% in the first quarter. The logical buyers include independent port operators, such as DP World or ICTSI, which don’t already have significant assets in North America. Integrated operators such as Maersk (via APM Terminal...

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