Chinese Shipper Cosco Offers to Put California Terminal in a Trust
By Costas Paris | June 20, 2018 2:24 p.m. ET
Chinese state-run Cosco Shipping Holdings Co. has offered to put a large container terminal in Long Beach, Calif., in a U.S.-run trust to allay U.S. national-security concerns about Chinese ownership of the facility, according to people familiar with the matter.
The terminal is part of Cosco’s proposed $6.3 billion purchase of an Asian shipping rival, which holds a long-term concession to operate the facility at the Port of Long Beach, one of the biggest gateways for imports into the U.S.
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