COSCO Buys Majority Stake in OOCL

COSCO Shipping Holdings has taken control of Orient Overseas Container Lines (OOCL) after it acquired the majority stake in the company.

The USD 6.3 billion takeover has received approval from the Chinese anti-trust body in June. COSCO now holds 90.1% of OOCL’s parent company, OOIL (Orient Overseas International), making it the world’s third-largest container carrier. Their fleet consists of 400 vessels with a capacity of over 2.9 million TEUs.

Lindblad Orders New Polar Expedition Cruise Ship

US-based cruise company Lindblad Expeditions Holdings has placed an order for a new polar expedition ship.

The vessel is scheduled to be delivered in 2021. It will be the fourth polar vessel in the Lindblad Expeditions-National Geographic fleet, joining the National Geographic Explorer, the National Geographic Orion and the National Geographic Endurance (scheduled for delivery in 2020).

"We are extremely excited to announce the further expansion of our expedition fleet. This is the next step of our long-term growth strategy to capitalize on the expanding demand for high quality adventure travel,” Sven-Olof Lindblad, President and CEO, stated.

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​Thessaloniki Port Undergoing Changes​

​In December 2017 the Government of Greece sold the 67% stake of Greek Port of Thessaloniki. Since then it's undergoing the privatization process ​along with development and expansion. Major part was sold to ThPA SA and the buyer is obliged to invest in port's development USD 180 million during the next 7 years.

​However we can already see some changes and ​ThPA SA revealed some plans, among which are container terminal's expansion by 440 m long and 16.5 deep; new bulk terminals construction and equipment replacement. The customs building will also be reconstructed. 

​General port development will allow operation Neopanamax vessels up to 14,000 TEU​