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Maersk Line and Hamburg Süd make merger concessions to EU

Container:

The EU Commission postpones its final decision concerning Maersk Line's acquisition of Hamburg Süd after the two carriers have made concessions. Maersk Line describes the move as standard procedure and expects EU approval by April 10.


BY RITZAU FINANS
Published 22.03.17 at 14:21

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Hapag-Lloyd seals merger with UASC: "A milestone in history"

hapag-lloyd5.jpg Container:

Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.

Maersk Line's result is a concern for the entire industry

Container:

Maersk Line's deficit is symbolic of continued struggles throughout the container industry, analyst Lars Jensen tells ShippingWatch. He thinks that two things in particular are worrying about the numbers. CEO Søren Skou on the other hand stand firm on the forecast for the full-year 2017.

CMA CGM achieved a profit in strong Q1

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Container carrier CMA CGM increased its net earnings in the first quarter 2017, which marked a big improvement compared to the same period last year. The acquisition of APL contributes positively to the business for the first time.

Hapag-Lloyd executes its UASC redundancy plan

Container:

Hapag-Lloyd has launched the process to streamline UASC and execute its redundancy plan. Rumors are circulating at the soon-to-be former HQ of the Arabic container carrier in Dubai. ShippingWatch can present the new regional manager who will effectively replace UASC CEO Jørn Hinge.

Maersk Line and IBM form new digital partnership

Container:

Maersk Line and IBM are joining forces to develop and implement blockchain technology in the global supply chain. According to the two companies, the technology could save the industry billions of dollars.

First 20,000 teu container ship hits the water

Container:

The world's first container ship with a capacity of a little over 20,000 teu has hit the water. The ship belongs to Japan's Mitsui OSK Lines, which could lose the record already this year.

Current front page

New tanker behemoth is a guidepost in consolidation wave

Photo For Superintdt 083.jpg Tanker:

The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.

Hapag-Lloyd seals merger with UASC: "A milestone in history"

Container:

Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.

Dong sells oil and gas business to Switzerland's Ineos

Offshore:

After protracted negotiations, it is now clear that Swiss company Ineos will buy Danish Dong's oil and gas business.

Seadrill could get fresh capital from new investor

Offshore:

The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.

Costs take a chunk out of Eimskip's profit

Carriers:

A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.

Scorpio Tankers merges with Navig8

Tanker:

The consolidation wave in product tanker is now reality. Robert Bugbee's Scorpio Tankers will merge with Navig8 and issue new shares for USD 200 million. The new behemoth will have a fleet of 105 vessels and will compete directly with carriers such as Torm, Ardmore, and Hafnia Tankers.

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