Freight News, Sea

OOCL sale speculation mounts

[ January 13, 2017   //   ]

A sudden suerge in the value of OOCL shares has prompted speculation that the Hong Kong-based operator may be about to be sold. OOCL, over two thirds owned by the Tung family, operates a modern fleet of around 575,000teu and is reckoned to be one of the more stable and profitable operators still under independent ownership. However, it is arguably now too small to be fully competitive against the emerging heavyweights of the industry such as Maersk Line.

Pundits have suggested CMA CGM, Maersk’s and MSC as possible buyers.

OOCL is due to form the Ocean Alliance with CMA CGM, Cosco and Evergreen in April.