How many US ports are Chinese owned?
Chinese state-owned enterprises hold ownership stakes in terminals at five U.S. ports.
Two Chinese enterprises have held equity ownership stakes in five U.S. ports. However, neither firm owns an effective majority stake, nor fully operates these American terminals.
And Beijing's port investments mean it can hold a large portion of a country's prosperity hostage, compelling its leadership to take political stances agreeable to the Chinese Communist Party. "So, seaports are a critical enabler for China's bid for commercial, diplomatic, and military influence."
According to the New York Times, foreign-based companies own and/or manage over 30% of US port terminals. According to Time Magazine, over 80% of the terminals in the Port of Los Angeles are run by foreign-owned companies, including the government of Singapore.
In April 2019, COSCO Shipping-owned Orient Overseas (International) Limited announced that it would sell their Long Beach Container Terminal business to a consortium led by Macquarie Infrastructure Partners for $1.78 billion.
#1 Container Port Since 2000
The Port is a department of the City of Los Angeles (also known as the Los Angeles Harbor Department) and is governed by the Los Angeles Board of Harbor Commissioners, a panel appointed by the Mayor of Los Angeles.
Right now, “Chinese state-owned enterprises hold ownership stakes in terminals at five U.S. ports,” according to a U.S. Naval War College investigation. China's Offshore Shipping Company, or Cosco, for instance, has a 40 percent joint venture stake in Los Angeles' West Basin Container Terminal.
The Florida Ports Council (FPC), is a Florida nonprofit corporation that serves as the professional association for Florida's fifteen public seaports and their management. The FPC is governed by a Board of Directors comprised of the fifteen port directors with staff support located in Tallahassee.
Founded in 1921, Ports America manages 13.4 million TEUs annually. Canada Pension Plan (CPP) Investments has signed a definitive agreement to take over North America's largest marine terminal operator, Ports America.
How many ports does the US have?
The United States' 926 ports are essential to the nation's competitiveness, serving as the gateway through which 99% of overseas trade passes. Ports are responsible for $4.6 trillion in economic activity — roughly 26% of the U.S. economy.
In this short book Peter Nolan - one of the leading international experts on China and the global economy - probes behind the media rhetoric and shows that the idea that China is buying the world is a myth.
Founded in 1921, Ports America manages 13.4 million TEUs annually. Canada Pension Plan (CPP) Investments has signed a definitive agreement to take over North America's largest marine terminal operator, Ports America.
DAVIDSON: So United States companies have eight, foreign companies have 80. Those companies managing U.S. terminals are all over the world, in China, Denmark, Singapore, South Korea. Could SSA Marine, the nation's biggest terminal manager, take over a significant number of those foreign managed ports? Mr.
Right now, “Chinese state-owned enterprises hold ownership stakes in terminals at five U.S. ports,” according to a U.S. Naval War College investigation. China's Offshore Shipping Company, or Cosco, for instance, has a 40 percent joint venture stake in Los Angeles' West Basin Container Terminal.
Most major U.S. ports are publicly owned by a "port authority," which is a public organization associated with a city, county, regional, or state government. A port typically contains many terminals that are each designed to handle different types of cargo.
