ORIENT Overseas (International) Limited OOIL, the parent company of Hong Kong containerline OOCL, has appointed vice president of Cosco Shipping Holdings, Wang Haimin, as its new CEO.
Mr Wang will replace Huang Xiaowen, who had resigned from a series of roles at OOIL due to another work arrangement.
Andy Tung, who was the CEO of OOCL before the Cosco takeover and was re-designated to co-CEO of the company last year, also stepped down from the position and now serves as an executive director.
Managing director of Cosco Shipping Lines, Yang Zhijian, and Feng Boming, chairman of Cosco Shipping Ports, have been appointed as executive directors of OOIL.
The management change of OOIL is believed to be part of a major top management reshuffle within Cosco Shipping Group. Cosco Shipping Lines, Cosco Shipping Bulk and Cosco Shipping Ports have all appointed new leaders recently, according to Singapore's Splash247.
Cosco completed the takeover of OOIL in July 2018. VesselsValue data shows OOCL currently owns 51 containerships with total capacity of around 425,000 TEU.