From the Washington Post:
The United Arab Emirates company that was attempting to take over management operations at six U.S. ports announced today that it will divest itself of all American interests.
The announcement appears to head off a major confrontation that was brewing between Congress and the Bush administration over the controversial deal.
Sen. John Warner (R-Va.) announced on the Senate floor shortly before 2 p.m. that Dubai Ports World would “transfer fully the operations of U.S. ports to a U.S. entity.” Warner, who had been trying to broker a compromise on the issue, said DP World would divest itself of U.S. interests “in an orderly fashion” so as not to suffer “economic loss.”
It was not immediately clear how the divesture would be handled or what U.S. company would take over the operation.
Let’s hope that this decision does not mean an end to congressional and media attention to the crucial issue of port and maritime security. We still have a lot of work to do to secure our ports and the global supply chain.