OOCL to remain an independent brand, says Cosco
OOCL to remain an independent brand, says Cosco
Date sent 2 month 8 year 2018

COSCO Shipping Lines has assured clients there will be no major operational changes at Orient Overseas Container Line following completion of its $6.3bn acquisition of OOCL’s parent, Orient Overseas (International) Ltd.

The Chinese company said in a customer advisory that the two carriers would remain independent in operations.

It said there would be no changes to the ports of call, schedules and slots arrangement as a result of the takeover.

CSL said the companies would not consolidate their information systems — both based on OOCL’s Integrated Regional Information System — although the Hong Kong-based carrier is running with a higher version.

Also, both liners would continue to honour their current contracts, while OOCL would “not consider replacing shipping agencies for the time being”.

In addition, the duo would keep using their own container fleets with no changes to the appearance.

Cosco Shipping Holdings, the Shanghai- and Hong Kong-listed parent of CSL, closed the offer to acquire OOCL’s Hong Kong-listed parent OOIL on July 27.


Source: Lloyd’s List      Print

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