Excerpts from the Journal of Commerce:
Amid an escalation in trade tensions between the United States and China, speculation is mounting about why US regulators have not yet approved Cosco Shipping’s takeover of a Long Beach terminal through its acquisition of OOCL.
Confirming to Alphaliner that it is discussing US terminal assets with CFIUS officials, Cosco, a China government-backed carrier, said it is confident the deal will pass US review and that the deal’s June 30 deadline will be met.
Rising trade tension between the United States and China, along with fresh memories of how US politics discouraged DP World’s takeover of six US terminals, is sparking questions, nonetheless.