Hong Kong-based container shipper Orient Overseas Container Lines (OOCL) has confirmed its commitment to upgrading its terminal at the Port of Long Beach with the purchase of US$347m worth of heavy equipment.
The shipper, which has been operating terminal services at the Californian port since 1986, signed a deal late last week with Shanghai Zhenhua Heavy Industries to buy the equipment.
In January OOCL signed a 40-year lease on a US$4.6bn shipping facility being developed by the port.
