rss icon Subscribe
desktop mobile

Hapag-Lloyd Completes Integration with UASC

Photo: Hapag-Lloyd

By Aiswarya Lakshmi

Hapag-Lloyd successfully completed the integration of UASC into the Group on 30 November 2017.

At a gathering of the shipping company's global management in Hamburg, Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said in the afternoon: "Thanks to the very good cooperation of our teams we have managed to successfully implement this integration in just six months. In the process, our extensive experience from earlier mergers - such as with CP Ships in 2005 and with CSAV in 2014 - helped us a lot."
Hapag-Lloyd merged with the United Arab Shipping Company on May 24, 2017. Within the subsequent six months, the operating businesses, the IT systems, the different fleets, and the corresponding departments and country organizations were brought together.
With more than 12,000 employees in five sales regions and 126 countries, as well as a fleet of 215 modern container ships, Hapag-Lloyd is now the fifth-largest liner shipping company in the world with one of the youngest and most competitive fleets in the sector.
Hapag-Lloyd now offers 125 liner services in a global network to its customers.
Beginning in 2019, Hapag-Lloyd expects annual synergies of USD 435 million as a result of the merger with UASC. "Already in 2018, we will benefit from the merger of the two shipping companies due to significant cost reductions," Habben Jansen said.

Nov 30, 2017

 

Legal

BIMCO Relaunches Ship Benchmarking System

Photo: BIMCO

BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign.

US Pushes More Sanctions Targeting N.Korea Maritime Smuggling

U.S. Ambassador to the United Nations Nikki Haley (File photo: US Mission to the United Nations)

The United States proposed a list of entities on Friday to be blacklisted under United Nations

U.S. Sues to Stop Wilhelmsen From Buying Rival Drew Marine

The U.S. Federal Trade Commission said on Friday it would challenge in court the Norwegian company Wilhelmsen Maritime Services' plan to buy smaller U.S. rival Drew Marine Group.

Mergers & Acquisitions

Borr Drilling Buys Paragon Offshore

© Lukasz Z / Adobe Stock

Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim

Subsea 7 to Invest in Xodus Group

SEVEN FALCON. Photo: Subsea 7

Leading global contractor in seabed-to-surface engineering, construction and services to the

Goldman Sachs, Macquarie Front Runners in HES Terminal Sale

File Image: A rendering of the The HES Terminal in the Port of Rotterdam (CREDIT: HES)

A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in

Maritime Apps