Replies

"If Duncan Donuts Hunter wants all foreign investments reviewed, will be be willing to go back and ask a few questions about this one?"

Good question. I'd also like to know that since he and the Dims are so concerned all of a sudden about port security, are they going to go back and review the COSCO deal?? Seems to me if the UAE can't 'operate our ports' (which really is operating a container terminal)then the Chinese gov't shouldn't be able to either. Saudis are also involved in some of them - - let's see, UAE is helping our military and we had to move our military out of Saudi - - which country is a better ally? BTW - SSA is a co in Seattle and was one of the ones being considered to take over from DPW. If you want to know more about SSA - see my posts here: http://www.freerepublic.com/focus/f-news/1594261/posts?page=35#35

The National Shipping Company of Saudi Arabia
The National Shipping Company of Saudi Arabia (NSCSA) was established in 1979 to meet the transportation needs of Importers and Exporters in the Kingdom of Saudi Arabia and other countries in the Middle East.

By 1983, NSCSA has established itself as a combination Roll-on/Roll-off (Ro-Ro), Container and Breakbulk carrier, operating 8 fully owned vessels. It had become one of the world's largest Ro-Ro operators, offering liner services linking the Middle East with North America, the Far East and Europe.

In 1991, NSCSA (America) Inc., was established to serve as the General Agent in North America for the Liner Service between U.S., Canada and the Middle East/India Subcontinent/East Mediterranean regions.

NSCSA specializes in Project, Heavy Lift and Ro-Ro cargoes, as well as containers.

In 1997, NSCSA began service between North America and Italy, Greece and Turkey.

http://www.freerepublic.com/focus/f-news/1584235/posts

Foreign involvement is nothing new [COSCO Chinese gov't co runs terminals]
sfgate.com ^ | February 23, 2006 | Kathleen Pender

Posted on 03/03/2006 10:45:42 AM PST by syriacus

Most terminal operators at U.S. ports are foreign companies and some are owned in part by foreign governments.

APL, which manages terminals in Oakland, Los Angeles, Seattle and Alaska, is owned by the NOL Group, which is majority owned by the Singapore government.

The Chinese government owns part of a company that operates a terminal at the Port of Long Beach.

That company, Cosco Container Lines, a division of China Cosco, caused a stir similar to the current one back in 1998.

Cosco ships had been calling on the Port of Long Beach for many years, using a public terminal. In the late 1990s, it wanted to build its own terminal at the former Long Beach Naval Station, says Howard Finkel, a senior vice president with Cosco.

The deal raised national-security concerns and Congress passed a bill that effectively scuttled it.

A few years later, other tenants at the port vacated space and Cosco was able to build its own terminal, says Art Wong, public information office for the Port of Long Beach.

That terminal is operated by a joint venture between Cosco and a U.S. company, Stevedoring Services of America. "Cosco is the majority lease holder with 51 percent, says Wong.

(Excerpt) Read more at sfgate.com ...

http://www.freerepublic.com/focus/f-news/1589400/posts