OOIL considers sale of terminals division

The move is being considered in order to realise the potential value of these assets although, at this stage, OOIL stresses there is no certainty that a disposal will take place. The Terminals Division operates as a stand-alone profit centre and a disposal would not affect the operations of OOCL, OOIL’s core container liner business.

The division comprises TSI Terminal Systems Inc., which operates two container terminals, Deltaport and Vanterm, in the Port of Vancouver, together with New York Container Terminal on Staten Island in New York City and Global Terminal in New Jersey.

The division recorded a total throughput of 2,379,006 teu in 2005, and reported strong growth during the first half of 2006. Major expansion schemes are planned for both Deltaport in Vancouver and for the New York Container Terminal.