Orient Overseas (International) Limited, the parent company of OOCL, was acquired by COSCO Shipping Holdings in a high-profile multi-billion-dollar takeover transaction completed in 2018. The acquisition was executed alongside the Shanghai International Port Group to create one of the largest container shipping entities in the global maritime industry. Despite the change in ultimate corporate ownership and majority shareholding, the buyers preserved the historic OOCL brand name, maintained its independent corporate status, and kept its global headquarters operating out of Hong Kong.