Qatar Diplomatic Crisis Delays Sale of Gulf Shipping Firm, Sources Say

By Jonathan Saul and Tom Arnold LONDON/DUBAI, Oct 20 (Reuters) - Qatar's diplomatic crisis is holding up the sale of a shipping company it part owns, one of the latest signs of an emerging corporate fall-out that Doha is facing after Arab countries cut relations in June, sources familiar with the matter said. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt … [Read more...]

Hapag-Lloyd Completes Merger with UASC

FRANKFURT, May 24 (Reuters) - Hapag-Lloyd and Arab sector peer UASC are focused on speedy integration, Hapag's chief executive said after the German company announced completion of their delayed merger to creates the world's fifth-biggest shipping company. Reuters reported last week that closure of the deal, which is valued at between 7 billion euros and 8 billion euros … [Read more...]

Gulf Bidders Emerge for UASC-Linked Shipping Unit -Sources

By Jonathan Saul and Tom Arnold LONDON/DUBAI, May 23 (Reuters) - 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, sources told Reuters that Hapag Lloyd was close to completing … [Read more...]

Hapag-UASC Tie-Up Nears Completion as Funding Snags Overcome -Sources

By Jonathan Saul and Arno Schuetze LONDON/FRANKFURT, May 18 (Reuters) - 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, valued at about 7 … [Read more...]