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 Fleet ‘Complete’ as Latest UASC Newbuild ULCV is Delivered
By Mike Wackett (The Loadstar) - Hapag-Lloyd has taken delivery of the last of 17 ULCVs ordered by UASC in 2013 as “some of the greenest and largest container vessels in the world”. The 15,000 teu Al Jmeliyah was part of an order of six 19,900 teu and 11 15,000 teu ULCVs from South Korean shipyard Hyundai Samho Heavy Industries. The $2bn order was for the first … [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...]