Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."
Orient Overseas Container Line’s parent company said it is not aware or involved in any bid relating to the company or OOCL.
Kansas City Southern’s net income fell 1.1 percent to $479.9 million for the full year in 2016 on revenues that slid 3.5 percent compared to the previous year, according to the company’s most recent financial statements.
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Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
Drewry’s investment research arm said it believes CMA CGM of France is best positioned among the major carriers to be a perfect suitor for Orient Overseas (International) Limited, the parent company of Hong Kong-Based OOCL.
NYK, “K” Line and MOL each reviewed the past year and plans for the future, including the new joint venture between the three companies, which they plan to form in July.