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COSCO TRACKING NEW YORK UPDATE
In theory fewer competitors could mean more rate stability, but the equation is also fluid in that the remaining players may pursue new capacity which would create rate instability as the carriers jostle for market position.Īdditionally, there is no capacity impact expected for the coming months, at least until April or May, 2018, when new contracts and services are to be reviewed and potentially reconstructed.ĭeringer will continue to monitor COSCO Shipping’s bid for OOCL and will provide an update when more information is made available. By leveraging the strengths of each company, the businesses seek to enhance their operating efficiencies and competitive positions to achieve sustainable growth in the long term. Both companies are members of the Ocean Alliance, and will continue to work together under this framework moving forward-eliminating carrier level competition between the pair. In speaking with our international partners, we don’t foresee a significant rate impact in the second half of 2017. The combination will be expected to enhance the industry leading position of both companies as a whole. The combined COSCO and OOCL will operate more than 400 vessels over an expanded network, with capacity exceeding 2.9 million TEUs including order book. OOCL is the seventh largest container shipping company in the world, with extensive container shipping routes and networks. The transaction will mark the latest consolidation in the global maritime industry-aligning both COSCO and OOCL in an effort to deliver a stronger competitive advantage. COSCO announced that OOCL will maintain its brand and the management team for at least 2 years. After the acquisition, the global market share will increase to 11.5%, making COSCO the world’s 3 rd largest carrier in terms of market share. With complaints growing over backlogs and congestion in the Port of New York and New Jersey and unfair detention and demurrage charges, Federal Maritime. The current market share of COSCO (all trade) is 8.3%. While OOCL’s majority owner has accepted the bid, the offer is dependent upon the satisfaction of pre-conditions, which include the necessary regulatory approvals as well as approval from COSCO Shipping Holding’s shareholders. is the regional management center for China COSCO SHIPPING Corporation Limited (COSCO SHIPPING Group). On completion, assuming all OOCL shareholders tender their shares, COSCO Shipping will hold 90.1%, while SIPG will hold 9.9% of OOCL. Headquartered in Secaucus, New Jersey, COSCO SHIPPING (North America) Inc. announced that COSCO Shipping and SIPG (Shanghai International Port Group) made an offer to all shareholders of OOCL to acquire all issued OOCL shares-worth USD 6.3 billion. Transit Time from Pusan to New York is only 23 days 3.On July 9, 2017, COSCO Shipping Holdings Co. Besides Shanghai and Ningbo to USEC direct service, also provide Korean to TRANSPACIFIC SERVICES|Asia/USEC & Gulf of Mexico & Central America services|COSCO container lines americas inc AWE1 Service:COSCO shipping container lines sailing schedule Port Rotation:Ningbo-Shanghai-Busan-New York-Wilmington-Savannah-Busan-Ningbo. Home> Resource > Freight News> COSCO Container Lines Americas Vessel COSCO Sailing Schedule to East Americanīelow saliling schedule are COSCO shipping container lines shipping from China to American
COSCO tracking vessel Asia/Mediterranean.COSCO Sailing Schedule to East American.
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