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
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.
'There will be no changes to the booking system, EDI platform, online booking websites and e-commerce services. With the development of digital technology, we will continue to improve our information systems to better serve our customers.'
