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-Land of the Free
U.S. Questions COSCO's Takeover of Long Beach Terminal -Report
2018-04-24
Hutchinson Wampoa has port operations at both ends of the Panama Canal. Now Long Beach approach. Like a big game of Go.
[gCaptain] A U.S. national security review has raised concerns about a takeover by China’s COSCO Shipping Holdings Co of a large container terminal in Long Beach, California, the Wall Street Journal reported on Friday.

The terminal is part of COSCO’s planned $6.3 billion deal to buy shipping firm Orient Overseas International Ltd (OOIL) , the Journal reported, citing people familiar with the matter.

COSCO executives met with officials at the Committee on Foreign Investment in the United States (CFIUS) this week and proposed to divest or carve out the Long Beach terminal to ease U.S. concerns about the deal, the report said.

A spokesperson for the Treasury Department, which oversees CFIUS reviews, did not immediately reply to Reuters’ request for comment.

The planned acquisition of Orient Overseas Container Line, OOIL’s main subsidiary, is on track to be completed by the end of June, COSCO Vice Chairman Huang Xiaowen said earlier this month.
COSCO Vice Chairman Huang Xiaowen seems to be pretty confident by his talk. How does the CFIUS feel about it? Any Deep State folks voting?
Posted by:Alaska Paul

#5  Thank you.
All supporting AP’s premise
Posted by: Skidmark   2018-04-24 20:22  

#4  Vrey nicely done, Skidmark! Good perspective and well supported, especially given the necessary limit on the number of links per comment.
Posted by: trailing wife   2018-04-24 11:25  

#3  Terminal Operators and Their Role in U.S. Port and Maritime Security

Why would we think US ports are secure?
Posted by: Skidmark   2018-04-24 10:58  

#2  Dubai Firm to Sell U.S. Port Operations

Most U.S. Port Terminals Are Foreign-Run
Posted by: Skidmark   2018-04-24 10:52  

#1  Old news. All ports are compromised.

The UAE purchase of American port facilities

Why Are Any U.S. Ports Owned or Operated by Foreign Corporations or Governments?
Posted by: Skidmark   2018-04-24 10:49