Shares of manufacturing and transportation companies fell as a rout in oil prices caused trepidation about markets for heavy machinery and shipping. Chinese conglomerate Cosco Group is in advanced talks to acquire smaller shipping rival Orient Overseas Container Line, of Hong Kong, for at least $4 billion in a deal that could be reached as early as July, The Wall Street Journal reported. State-owned Cosco Group's Cosco Shipping unit is the world's fourth largest container operator with an 8.5% market share, while Orient Overseas is in seventh place. Boeing raised its 20-year industry forecast for plane deliveries to 41,030 jetliners, contracts that could be worth $6 trillion at list prices.
Continue Reading Below
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
June 20, 2017 16:17 ET (20:17 GMT)