Trump administration forces China to sell the Port of Long Beach (DISCERN)

Hooooo-boy, this is big – HUGE – if true and I’m going to see if I can vet this story. Meanwhile, stay tuned. I and many other were dead set against China taking the Long Beach port back in the 1980’s and we fought against it like rabid dogs – for all the good it did. Peeps, keep your eyes peeled and report back anything you see about this.
 
HUGE, HUGE, HUGE if true!
 
https://www.americanthinker.com/blog/2019/05/trump_administration_forces_china_to_sell_the_port_of_long_beach.html
 

American Thinker wrote:

May 7, 2019
Trump administration forces China to sell the Port of Long Beach
By Chriss Street
 
The Trump Administration's Department of Homeland Security has forced China's state-owned Cosco* to sell the Port of Long Beach over security concerns.
 
China's Cosco Shipping Holdings, which bought out its 75 percent–owned Hong Kong–based Orient Overseas International (OOCL), was forced to sell its Port of Long Beach Container Terminal ownership to Macquarie Infrastructure Partners for $1.78 billion.
 
The Obama administration had no problems with OOCL signing a 40-year lease with the City of Long Beach in 2012 for control of America's second largest and most automated container handling operation. The sweetheart deal was part of the "Middle Harbor Redevelopment Program" to fund a $1.5-billion expansion through 2020.
 
But one of the first major actions of the Trump administration's Department of Homeland Security in March 2017 was issuing a "Committee on Foreign Investment in the U.S." national security hold on Cosco's acquisition of a former U.S. Navy port facility.
 
China operates six of the world's ten busiest container ports.  The Chinese government has also funded the construction and operations of 43 ports in 35 countries under its "One Belt and One Road" (OBOR) initiative launched five years ago, according to China's Ministry of Transport.
 
As part of its efforts to gain asset dominance, China has directed its state-owned companies to exclusively buy products and services from other Chinese state-owned enterprises.  As a result, China International Marine Containers Group has become the world's largest maker of shipping containers and Shanghai Zhenhua Heavy Industries has gained a 70 percent international market share for port cranes, and now exports to 300 ports in 100 countries.
 
Under the Macquarie acquisition terms, Orient Overseas International will pocket a $1.29 billion profit and still control vessel and rail traffic at the container facilities for the next twenty years.

Peeps, normally I wouldn't get to excited about something like this since this news hasn't yet hit any mainstream news outlets. And it's big enough if true that MSM news would report on this, however in light of Q drop 3313 below I'm just a little more than intrigued, shall we say? It "possibly" could have legs. Fingers crossed here.

https://www.wsj.com/articles/macquarie-gets-a-foothold-in-u-s-asia-ocean-trade-11557057600?mod=hp_lista_pos5

The Australian investment group’s purchase of a multiyear concession to run the Long Beach Container Terminal in Southern California comes with a guarantee from the seller, Hong Kong-based shipping and ports operator Orient Overseas International Ltd. , that the facility will generate $9 billion in revenue over 20 years.
Under a sale that was triggered by U.S. national security concerns, Macquarie paid $1.78 billion to run LBCT until 2051. The site, a major gateway for trans-Pacific container trade crucial to retailers and manufacturers, will give Macquarie a kind of bookend for its North American maritime infrastructure portfolio, alongside the Maher Terminals LLC operation at the Port of New York and New Jersey that the group bought in 2016.
An executive from another bidder said Macquarie “paid a fair price and hit the jackpot,” given the terminal’s extensive automation, which cuts operating costs, as well as its skilled workforce and growth potential.
OOCL will continue to send its ships through the terminal. Other big container operators that call at Long Beach include France’s CMA CGM SA, Cosco, Taiwan’s Evergreen Marine Corp. and Singapore’s Pacific International Lines.
Macquarie has extensive holdings in the U.S., with more than $12 billion invested in more than 30 separate transactions over the past 15 years. It bought 80% of Maher Terminals in New York and New Jersey in 2016, owns the Goethals Bridge connecting Elizabeth, N.J., with New York’s Staten Island, and has majority ownership in utility companies, toll roads and cellphone towers.
Cosco will maintain its minority investments in other U.S. ports, meanwhile, including another pier at Long Beach and at the ports of Los Angeles and Seattle.


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12:05 PM - 6 May 2019 from Manhattan, NY
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