L4 Logistics | Transport Shipping and Logistics News

According to a Bloomberg report, the House plans to pass the measure next week. “If the Senate follows suit, the president will use his first veto to reject it,” said spokeswoman Dana Perino. P&O executives told a media group that the deal has been clouded by “Gross media distortions”. About 75% of all cargo containers entering the US go through terminals operated by foreign companies, anyway. P&O senior vice president Frank Fogarty commented that the DW World-P&O deal is a case of one group of foreign shareholders selling shares to another group of foreign shareholders. Industry insiders suggest that there are two options that could put an end to the impasse: DP World could establish a US subsidiary to run the US port operations, or sell them off. According to the Financial Times, DP World has been approached by private equity groups interested in buying the US operations, but chief executive Mohammed Sharaf said that although the US facilities were a small part of the deal and less profitable than other P&O terminals, the company does not intend to part with them. “We have a business to run – the USA is part of it.”