The US government has raised national security concerns over a takeover bid of Hong Kong - based shipping firm Orient Line International ( OOIL ) by the Chinese state - owned shipping giant COSCO . A U.S. national security review has raised concerns about a takeover by China’s COSCO Shipping Holdings Co (601919.SS) of a large container terminal in Long Beach, California, the Wall Street Journal reported on Friday. The Committee on Foreign Investment in the United States ( CFIUS ) is worried about the inclusion in the $ billion deal of a large container terminal in Long Beach , California , the second - largest port in the country . COSCO executives are reported to have met with CFIUS officials to discuss divesting the terminal or removing it from the acquisition , which is due to be completed by the end of June .
The US government has raised national security concerns over a takeover bid of Hong Kong - based shipping firm Orient Line International ( OOIL ) by the Chinese state - owned shipping giant COSCO . The Committee on Foreign Investment in the United States ( CFIUS ) is worried about the inclusion in the $ billion deal of a large container terminal in Long Beach , California , the second - largest port in the country . COSCO executives are reported to have met with CFIUS officials to discuss divesting the terminal or removing it from the acquisition , which is due to be completed by the end of June .