BERLIN, June 29 (Reuters) – United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.
UASC, majority-held by the government of Qatar, said in a statement that “…all six of UASC’s shareholding states voted unanimously to approve the proposed merger with Hapag-Lloyd AG (Hapag-Lloyd) with a relative valuation of the two businesses at 72 percent for Hapag-Lloyd’s shareholders and 28 percent for UASC’s shareholders.”
“Several legal and administrative tasks need to be completed before the binding agreement can be formally signed,” it added. (Writing by Paul Carrel; Editing by Alexander Smith)
CAIRO, March 2 (Reuters) – The Houthi Transport Ministry in Yemen said on Saturday there had been a “glitch” in undersea communication cables in the Red Sea as a result of actions...
by Captain John Konrad (gCaptain) In the current American labor landscape, the stark contrast between the assertive strides of transportation unions and the maritime sector’s unique labor challenges is striking....
By Mikhail Flores MANILA, Dec 2 (Reuters) – Evacuations were under way in the Philippines after a quake of at least magnitude 7.5 struck the southern region of Mindanao on Saturday night,...
December 2, 2023
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