SHANGHAI, Jan 20 (Reuters)– Hong Kong- provided carrier Orient Overseas International Ltd claimed on Friday it had actually not obtained any kind of proposals for its subsidiary OOCL, complying with media records previously in the week that China COSCO Shipping and also others were circling around with proposals.

“The company wishes to clarify that the company and OOCL is not aware of, nor is it involved in any bid relating to the company or OOCL,” Orient claimed in a declaration to the Hong Kong bourse, including it had actually kept in mind the records regarding a “potential bid”.

Chinese organization paper Caixin, pointing out resources, reported on Wednesday that China COSCO Shipping would certainly take part in bidding process for OOCL together with Evergreen Marine Corp and also France’s CMA CGM.

Shares in carefully held Orient Overseas were down about 10 percent on Friday, after having actually climbed highly previously in the week on information of the prospective acquistion.

China COSCO Shipping, CMA CGM, Evergreen and also Orient are all component of the “Ocean Alliance” collaboration, created in 2015 to handle the competing group of Maersk Line and also Mediterranean Shipping.

Container delivery has actually seen debt consolidation and also shakeup as the market has a hard time to recoup from a depression in products prices connected to an excess of ships and also slowing down Chinese financial development. (Reporting by Adam Jourdan and also Brenda Goh; Editing by Christopher Cushing)

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