Q 3313=Trump administration forces China to sell the Port of Long Beach
Posted on May 8, 2019
Q-Drops #75, #866 #2037, #1145, #1203 all mentioned ports
♦️1995-1996, during the heat of the Clinton-Gore Campaign fund raising activity, the Clinton administration actively intervened to make sure a Communist Chinese cargo container shipping interest got a too-good deal on a Long Beach, California, shipping terminal.
The Secretary of the Navy has formally turned the base over to the City of Long Beach. The Port of Long Beach has signed a letter of intent to lease the property to the China Ocean Shipping Company (Cosco), a steamship line run by the Communist Chinese government.
♦️2005, DP World approached the Committee on Foreign Investment in the United States (CFIUS) to clear regulatory hurdles for a possible acquisition of the British firm P&O. The CFIUS is the multi-agency federal panel that passes judgment on deals with foreign corporations that raise antitrust or national security questions, Soon after, DPW began negotiating the terms of the takeover with P&O. They were advised by former President Bill Clinton to submit to a 45-day review of the acquisition.
In December 2005, Coast Guard intelligence officials raised the possibility of significant security risks associated with the management of some U.S. port operations by a Dubai company, stating in a report that broad intelligence gaps prevented them from assessing the risks.
In February 2006, the stockholders of the Peninsular and Oriental Steam Navigation Company (P&O), a British firm, agreed to a sale of that company to DPW over a bid by PSA International of Singapore. As part of the sale, DPW would assume the leases of P&O to manage major U.S. facilities at the Port of New York and New Jersey, Port of Philadelphia, Port of Baltimore, Port of New Orleans, and the Port of Miami, as well as operations in 16 other ports.
After P&O stockholders approved the deal, the arrangement was reviewed by the CFIUS headed by the U.S. Treasury Department. The transfer of leases was approved.
♦️2006- The Bush administration started selling US port management contract to foreign companies. The Obama administration continue this policy, in 2012 a 40-year lease was signed with the City of Long Beach and China’s Cosco for control of America’s second largest and most automated container handling operation.
Drugs, child sex-trafficking and nefarious good were then easily shipped into the US without inspection.
This started changing in 2019 when the Trump administration forced China to sell the Port of Long Beach. The transaction in question is the $6.8 billion acquisition by Dubai Ports World of the British P&O shipping company, to become the world’s third largest port-operator. Among P&O’s numerous worldwide operations are contracts to operate port facilities in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia. The transaction was approved by the Bush administration.
♦️2007-American Free Press has confirmed that the large Chinese shipping conglomerate Hutchison Whampoa Ltd. has a significant presence at the Lazaro Cardenas seaport in Mexico, as well as other Mexican ports. The company has had effective control of both ends of the Panama Canal for the last seven years.
♦️2012-The Obama administration had no qualms with OrIent Overseas Containment Line (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.
However, 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.
♦️2014-The Middle Eastern firm’s deal to manage U.S. cargo port raises security concerns for the first time in U.S. history, a Middle Eastern-based firm is poised to manage a strategic U.S. port on Florida’s Atlantic coast, rekindling national security concerns inside Congress.
Rep. Duncan Hunter, the California Republican who oversees port security as chairman of the House Transportation’s maritime transportation subcommittee, demanded Tuesday that the Obama administration conduct a full national security review of the decision last month by Gulftainer to sign a 35-year contract with Florida’s Port Canaveral.
♦️2016-In May, Panama’s largest port was purchased by a Chinese company called Landbridge Group.
Margarita Island Port, on the canal’s Atlantic side, offers the company intimate access to one of the most important goods distribution centers in the world. All while promising to upgrade the ailing Panama facilities and offer more trade with America’s distant east coast.
♦️2017-China rules the waves-Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power
♦️2017-China’s Seaport Shopping Spree: What China Is Winning By Buying Up The World’s Ports
♦️2018-China’s largest shipping company, Cosco Shipping Holdings Co., begins taking control of a major US trade terminal in Long Beach, California. The Long Beach acquisition is part of Cosco’s six-billion-dollar buyout of rival Asian shipping giant, the Hong Kong-based Orient Overseas International Ltd.
♦️May 2019-Trump administration forces China to sell the Port of Long Beach
Posted on May 8, 2019
♦️June, 2019 A US Customs supervisor had ‘highly suspicious’ contact with Chinese officials, prosecutors say