S. 2341Senate109th Congress (2005-2007)In Committee

A bill to prohibit the merger, acquisition, or takeover of Peninsular and Oriental Steam Navigation Company by Dubai Ports World.

Introduced February 28, 2006

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

February 28, 2006

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SenateIntro Referral

Introduced in Senate

February 28, 2006

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S1548-1550)

February 28, 2006

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

February 28, 2006

Floor Debate

15 members

What members said about S. 2341 on the floor

7 Republicans8 Democrats
Byron L. Dorgan
Sen. Byron L. DorganD-ND · Feb 28, 2006

Mr. President, the Commerce Committee is having a hearing this afternoon--and I have been at a portion of that hearing--dealing with the question of Dubai Ports World, which is a company largely…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Feb 28, 2006

Mr. President, the Commerce Committee is having a hearing this afternoon--and I have been at a portion of that hearing--dealing with the question of Dubai Ports World, which is a company largely…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Feb 28, 2006

I announce that the Senator from Hawaii (Mr. Inouye) necessarily absent. Mr. President, I ask unanimous consent that the order for the quorum call be dispensed with. Mr. President, I ask unanimous…

Robert Menendez
Rep. Robert MenendezD-NJ-13 · Feb 28, 2006

Mr. President, I am proud that I have introduced today along with Senators Clinton, Lautenberg, Nelson, and Boxer legislation that would guarantee that foreign governments cannot control the…

Arlen Specter
Sen. Arlen SpecterR-PA · Feb 28, 2006

Mr. President, I have sought recognition today to introduce the Community Cancer Care Preservation Act, which will ensure Medicare beneficiaries' access to community-based cancer treatment and…

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Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Feb 28, 2006

Mr. President, I rise today to introduce, along with Senators Snowe, Akaka, Kerry, Durbin, and DeWine, the College Pathway Act of 2006. The intent of this bill is to provide a means of addressing the…

Patty Murray
Sen. Patty MurrayD-WA · Feb 28, 2006

Mr. President, I ask unanimous consent the order for the quorum call be rescinded. Mr. President, I ask unanimous consent to speak as in morning business for 10 minutes. Mr. President, as we return…

Harry Reid
Sen. Harry ReidD-NV · Feb 28, 2006

Mr. President, I rise to explain why I will oppose cloture on the PATRIOT Act Amendments Act. In brief, I will vote against cloture to register my objection to the procedural maneuver under which…

Jim Bunning
Sen. Jim BunningR-KY · Feb 28, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I come to the floor to speak about the PATRIOT Act. I support the reauthorization of this law.…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Feb 28, 2006

Mr. President, it is hard to put in words what I feel as I listen to my good friends, Harry Reid and Arlen Specter, Bill Frist and Mitch McConnell, saying such nice things. They are friends. We work…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Feb 28, 2006

Mr. President, I rise today to talk about a bill that will improve college access by creating a framework to ensure that high school graduates amass the skills and knowledge they need to succeed in…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Feb 28, 2006

Mr. President, I would like to voice my strong support as an original cosponsor of The College Pathway Act, introduced by my colleagues from Connecticut and Maine, Senators Lieberman and Snowe. I…

Arlen Specter
Sen. Arlen SpecterR-PA · Feb 28, 2006

Mr. President, I join in paying tribute to the distinguished Senator from Vermont, Senator Leahy. Our friendship precedes the service of both of us in the Senate. I first met Senator Leahy at the…

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William H. Frist
Sen. William H. FristR-TN · Feb 28, 2006

Mr. President, when you reflect back to that many votes, that many thousands of votes, very quickly you could go back and look at various issues Pat Leahy has been involved with. I think that is…

John Cornyn
Sen. John CornynR-TX · Feb 28, 2006

Mr. President, I am glad to hear our new colleague from New Jersey talking about our national security, and certainly this is one subject which always concerns us. It is the primary role of our…

Mitch McConnell
Sen. Mitch McConnellR-KY · Feb 28, 2006

Mr. President, it has been my distinct pleasure to be either the ranking member of the Foreign Operations Subcommittee or the chairman with my good friend Pat Leahy. Part of what Senate etiquette…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Feb 28, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be dispensed with. Mr. President, I ask unanimous consent to speak and have my speech recorded as if in morning business. I…

Saxby Chambliss
Sen. Saxby ChamblissR-GA · Feb 28, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Bill Text

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Introduced in SenateIssued February 28, 2006

II

109th CONGRESS

2d Session

S. 2341

IN THE SENATE OF THE UNITED STATES

February 28, 2006

Mr. Dorgan introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To prohibit the merger, acquisition, or takeover of Peninsular and Oriental Steam Navigation Company by Dubai Ports World.

1.

Findings

Congress makes the following findings:

(1)

It is essential for the security of the United States that United States maritime ports be protected against terrorist attacks.

(2)

Most stevedoring operations at the ports in New York, New Jersey, Philadelphia, Miami, Baltimore, and New Orleans are controlled by a company named P&O Ports, North America (hereafter in this Act referred to as P&O Ports).

(3)

P&O Ports is the United States subsidiary of a British company named Peninsular and Oriental Steam Navigation Company (hereafter in this Act referred to as P&O Company).

(4)

A company named Dubai Ports World is seeking to acquire P&O Company.

(5)

Dubai Ports World is partly owned and controlled by the Government of the United Arab Emirates.

(6)

While the United Arab Emirates is in some respects an ally of the United States, it has also had recent ties to terrorist activities.

(7)

Two of the hijackers involved in the events of September 11, 2001, were from the United Arab Emirates.

(8)

According to the National Commission on Terrorist Attacks Upon the United States (the 9-11 Commission), the banking system of the United Arab Emirates was used to help finance the attacks of September 11, 2001.

(9)

The United Arab Emirates has also been a way station for the trafficking of nuclear components to state sponsors of terrorism, including Iran and North Korea.

(10)

In 1988, legislation was enacted adding section 721 to the Defense Production Act of 1950 (50 U.S.C. 2170) (commonly known as the Exon-Florio provision), which authorized the President to investigate the impact of foreign acquisitions of United States companies on national security and to suspend or prohibit acquisitions that might threaten national security.

(11)

The President has delegated his investigative authority under the Exon-Florio provision to the Committee on Foreign Investment in the United States (CFIUS), which is chaired by the Secretary of the Treasury.

(12)

CFIUS approved the acquisition of P&O Ports by Dubai Ports World without undertaking the 45-day investigation of proposed transactions that might affect the national security of the United States that is required under the Exon-Florio provision (50 U.S.C. 2071(b)).

(13)

In response to strong public and congressional opposition to the impending acquisition, Dubai Ports World has requested that CFIUS conduct a 45-day review of the national security implications of the transaction.

(14)

In view of evidence already on record, it is clear that the proposed acquisition of P&O Ports by Dubai Ports World poses a serious threat to the national security of the United States.

2.

Prohibition on sale of P&O Ports to Dubai Ports World

Notwithstanding any other provision of law and any prior action or decision by or on behalf of the President, the President shall exercise the authority under section 721 of the Defense Production Act of 1950 (50 U.S.C. App. 2170) to prohibit the merger, acquisition, or takeover of P&O Ports by Dubai Ports World.