19.1 C
Hamburg
Sunday, June 1, 2025
Home News COSCO takes over Port of Kaohsiung

COSCO takes over Port of Kaohsiung

TAIPEI (Taiwan News) — It appears that China’s state-run shipping and logistics giant China Ocean Shipping Company (Cosco) could now own the Port of Kaohsiung, the largest harbor in Taiwan, though tax loopholes being exploited in Bermuda make the degree of control exercised by the state-owned corporation on the Taiwanese port murky, according to a report by Nikkei Asian Review.

Despite reservations by the Trump administration over Chinese ownership of the Port of Long Beach, the second-largest container port in the U.S., the US$6.3 billion acquisition by Cosco of Hong Kong-based Orient Overseas (International) Limited (OOIL) and its subsidiary Orient Overseas Container Line (OOCL) has been approved, according to the report. The move makes Cosco the world’s third-largest shipping company and initially appears to give it control of the Port of Kaohsiung and the Port of Long Beach.

Read more on Taiwan News.





Latest Posts

The Indian Ocean Rivalry

The Indian Ocean has emerged as a strategic theater of competition between two Asian giants: India and China. India’s recent developments indicate a rapid expansion...

Statkraft advances plans for green hydrogen scheme at Hunterston

Europe’s largest generator of renewable energy has proposed the development of a green hydrogen facility at Hunterston, the former coal terminal in Ayrshire. Clydeport –...

Port of Bilbao wraps up busiest month for cruise traffic

May has marked a record month for cruise activity at the Port of Bilbao’s terminal in Getxo, with 18 cruise ship calls bringing over...

Tripoli port shutdown sparks maritime crisis in Libya

Libya’s shipping sector is teetering on the edge of collapse as fresh waves of political violence erupt in Tripoli, crippling key port operations and...

KlaipÄ—da port embarks on green hydrogen initiative

KlaipÄ—da Port launched its green hydrogen initiative, positioning itself as the first in Lithuania and the broader Baltic region to produce and supply green...
error: Content is protected !!