Orient Overseas Readies to Sell Long Beach, CMA-CGM Could Get More Involved — Panjiva
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Orient Overseas Readies to Sell Long Beach, CMA-CGM Could Get More Involved

Corp - Ports 661 Corp - Shipping 608 Mergers 200 Mode - Containerized 1005 Mode - Seaborne 1273 U.S. 3297

Container-line Orient Overseas remains on track to sell its Long Beach port assets “in the coming months” after the ports’ operations reported a 3.9% year-over year growth in revenues in 2018. While profitability remains lower than that of other port operators such as DP World the assets have already been linked to several potential buyers including Yildirim Holding. The port more broadly, where there are also assets owned by Maersk, K-Line and Carrix, has seen a steady slowing of growth recently including a 5.0% year over year drop in traffic in the first two months of 2019....

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