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Companies

Taiwan quietly lets Chinese state company take over port area

Blocked in US by Trump, Cosco gains indirect control over Kaohsiung terminals

The port in Kaohsiung in southern Taiwan   © Reuters

TAIPEI/HONG KONG -- When Chinese state-owned shipping line Cosco Shipping Holdings unveiled a $6.3 billion deal to buy smaller competitor Orient Overseas (International) last year, Orient's ownership of port terminals in the U.S. and Taiwan appeared to pose a potential regulatory obstacle.

Port ownership by Chinese state companies has become an increasingly sensitive topic globally as Beijing's Belt and Road Initiative spurs concerns about whether their control could be leveraged for security purposes.

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