Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg. With 230 vessels and a shared fleet capacity of approximately 1.6 million TEU…
Mining and commodities trading group Glencore Plc would prefer to grow its business through acquisitions rather than greenfield investment, its chief executive said on Wednesday. Addressing an annual general meeting in Cham, Switzerland…
German shipping line Hapag Lloyd and Arab sector peer UASC have completed a delayed merger which creates the world's fifth-biggest shipping company.The German company said on Wednesday that the deal to combine the two businesses, announced in April 2016 and sealed in July last year…
Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week…
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters.The deal to create the world's fifth-biggest shipping company…
Campbell Transportation Company, Inc. said it has signed an agreement with American Commercial Barge Line LLC (ACBL) to acquire certain affreightment contracts along with 155 barges and four towboats that will operate on the Ohio River system…
The outlook for the 2017 financial year is based on the Hapag-Lloyd Group’s existing business activities as at 31 December 2016 and therefore does not include UASC’s business activities or the acquisition of UASC in 2016. A statement from…
Marine coating major AkzoNobel announced it has declined a third unsolicited, non-binding and conditional proposal submitted by PPG Industries on April 24, 2017, for all outstanding ordinary shares in the capital of AkzoNobel. A statement…
Full ahead: new generation of carrier alliances and slot/vessel sharing arrangements; SM’s (Bullet) Line; FWE for Hanjin. On April 1, 2017, the new generation of carrier alliances became reality. In the run up to April 1 there was a flurry…
Crude oil tanker company DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline. A statement from DHT Holdings said that its Board of Directors has unanimously rejected Frontline April…
Golden Ocean Group Limited has taken delivery of dry bulk vessel Q Kennedy, to be renamed Golden Kennedy. The vessel is the third of 16 dry bulk vessels recently acquired by Golden Ocean in an all-share transaction where the company will issue in aggregate 17…
OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, announced the merger of its U.S. business with Louisiana based cargo unit and logistics specialist Paragon Industries, Inc. The multimillion…
Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks.“The recent…
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessaloniki Port with an offer of 231.9 million euros ($251.8 million), privatisation agency HRADF said on Monday. The sale…
Samskip is to expand its global refrigerated foods transportation interests once more, announcing plans for Samskip Logistics USA to acquire the activities of New Jersey-based freight forwarder Rimar Consultants Inc. Rimar Consultants is…