COSCO has completed its takeover of Hong Kong's OOIL, parent
of Orient
Overseas Container Line (OOCL), saying its new holding would operate as
separate brand but, at the same time, "deepening" cooperation
lies ahead.
"Both liners will make their own decisions on rates
based on their own business strategy/policy and characteristics of respective
products and maintain their own pricing and approval systems," said the
Cosco statement.
But there will be changes. "The pick-up and use of
containers will be easier for customers through measures including centralised
procurement, interchanging use of containers and so on," Cosco said.
The two now operate a combined fleet of 400 vessels,
totalling 2.7 million TEU, which will grow with the 19 vessels on order, boosting
capacity to 2.93 million TEU by the end of the year.
Source : HKSG.
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