Andy Tung News

OOCL Hong Kong, the third largest cargo container ship in the world, docked in the port of Hong Kong for the first time on Thursday.The Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) said in a press note that the vessel was warmly welcomed at Kwai Tsing Container Terminal V by many friends, colleagues, and the community who went to marvel at one of the world’s largest containerships with a carrying capacity of 21,413 TEU.The vessel’s debut to the city of Hong Kong, an entrepôt well known for its long and vibrant history in international trade and commerce, has a very special meaning for OOCL.

Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port. It has entered into a Sale and Purchase Agreement to sell 100% of LBCT  to the consortium led by Macquarie Infrastructure Partners (MIP). LBCT LLC operates the container terminal in the Port of Long Beach, California, United States.The sale is undertaken pursuant to the National Security Agreement entered into by OOIL, Faulkner Global Holdings Limited, a subsidiary of COSCO SHIPPING Holdings Co., Ltd, and the U.S. Department of Homeland Security and the U.S.

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software solutions provider CargoSmart.The new platform will establish a digital baseline that aims to connect all stakeholders, including carriers, terminal operators…

Following the success of the Day One products introduced earlier this year, Orient Overseas Container Line Limited (OOCL) announced the forthcoming launch of the second phase of the OCEAN Alliance products in April 2018, an improved suite of products providing industry-leading services to customers. The emphasis on quality services has long been the hallmark of the OOCL brand. Since the inauguration of our services in April 2017, OOCL has made steady progress to meet the requirements of our customers as they find that we are among the top performers in terms of schedule reliability. In collaboration with our like-minded partners, we…

OOCL celebrated the christening of Hull H2173, a 21,413 TEU newbuilding constructed at the Samsung Heavy Industries shipyard on Geoje Island. Named as OOCL Germany, this mega containership is the second of the six 21 thousand TEU class vessels on order at the shipyard and they are an important part to enhancing the competitiveness and efficiency of our modern fleet. As with many of our newbuildings, extra efforts have been made to ensure that they are operationally efficient and meeting the highest environmental standards. In fact, the OOCL Germany, and her sister vessels, are designed with many advanced green features that can help meet future environmental requirements.

A study says Hong Kong will eventually have to move its container terminals out of Kwai Tsing to remain competitive. A study by think tank SD Advocates, the Chinese University and BMT Asia Pacific says that Hong Kong needs to relocate the container terminals from Kwai Tsing to another part of the city, if it wants to remain a competitive global logistics hub in the long term. The terminals, opened more than 40 years ago, were outdated because they were designed for direct cargo to and from the city. They were built to handle direct South China export containers that have all but disappeared. Around 70 percent of the containers handled by the 24 berths are transshipment cargo and require thousands of inter-terminal trucking moves.

Andrew Tung, CEO and Managing Director of Orient Overseas Container Line, was presented today with the prestigious “Port Pilot Award” by the Long Beach Board of Harbor Commissioners. Tung is the 77th recipient of the award, which is presented to business and political leaders and advocates who have made contributions to international trade within the maritime industry. He is the first third-generation Port Pilot winner. His father, C.H. Tung (in 1987), and grandfather, C.Y. Tung (in 1977), were also recipients. “We’re pleased to present our prestigious Port Pilot Award to a very deserving Andy Tung,” said Doug Drummond, President of the Long Beach Board of Harbor Commissioners.

At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. "ABS' strength as a global classification society is drawn from its membership and the many regional, national and technical committees that contribute to the process of developing practical, impartial and authoritative standards," said ABS Chairman Robert D. Somerville. •    Robert G. •    James G. •    Maria F. •    Chow Yew Yuen, Keppel Offshore & Marine USA Inc. •    Dr. Jen-Hwa Chen, Chevron Shipping Co. •    Dr.

OOCL celebrates the christening of 8,888 TEU container ship 'OOCL Miami' at the Changxing Island shipyard in Shanghai. OOCL Miami is the third of the eight 8,888 TEU vessels that OOCL commissioned Hudong-Zhonghua to build and the technological improvements have enhanced the vessel’s ability to be more fuel efficient. When sailing at optimal performance, this ship can not only lower fuel consumption but also reduce emissions. The new vessel is 335 meters long, 42.8 meters wide with deadweight of approximately 101,566 mt..

China’s shift towards a domestic consumer demand-oriented economy could provide a significant boost to the global shipping industry, as the world’s second largest economy targets more sustainable growth. “2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth,” said Mr Xu Lirong, President of China Shipping (Group) Company. Mr Xu will examine this key issue affecting China, and the nation’s pivotal position in the international maritime arena, in a conference summit at Sea Asia, the region’s leading maritime event, in Singapore next April.