China's Cosco Group is in talks to purchase rival Hong Kong's Orient Overseas for the last two years, say sources, amidst the ongoing container shipping industry slump whereby companies are grappling to stay profitable. In around $4bn, smaller liners such as Orient Overseas have been increasingly merging or been taken over by larger conglomerates.
China's Cosco Group is in talks to purchase rival Hong Kong's Orient Overseas for around $4bn, say sources, amidst the ongoing container shipping industry slump whereby companies are grappling to stay profitable. In the last two years, smaller liners such as Orient Overseas have been increasingly merging or been taken over by larger conglomerates.