OOCL parent considers sale of terminals division
With market interest in the port industry at a historical high, OOCL parent company Orient Overseas (International) Ltd. said today that it is considering selling off its terminal assets 'to realize the true potential value of these assets.'
The Hong Kong-based company has appointed UBS Investment Bank as advisors.
OOIL's Terminals Division comprises TSI Terminal Systems, which operates the Deltaport and Vanterm terminal in the Canadian Port of Vancouver, New York Container Terminal on Staten Island and Global Terminal in New Jersey. Last year, the division had a total container throughput of 2.38 million TEUs, up 12.4 percent over 2004.
'OOIL wishes to make clear that, at this stage, there is no certainty that a potential disposal of the Terminals Division will take place,' company said in a statement.
OOCL parent considers sale of terminals division
