rss icon Subscribe
desktop mobile

CMA CGM Made Merger Approach to Hapag Lloyd

(Photo: Hapag-Lloyd)

By Jonathan Saul and Arno Schuetze

The world's no. 3 container shipping line CMA CGM of France has made an exploratory approach to German rival Hapag-Lloyd over a possible merger as players in the sector hunt for tie-ups to beat depressed conditions, finance sources say.

Three finance sources with knowledge of the matter, who declined to be named due to market sensitivity, said CMA CGM had initiated discussions in recent months with Hapag-Lloyd, which is ranked fifth globally, to look into some form of share merger of the two groups.

"The idea which has been proposed... would be a non-cash merger," one source said.

Key Hapag shareholders had rebuffed the proposition, which would narrow the gap to market leader Maersk Line, the sources said.


(Additional reporting by Vera Eckert and Gus Trompiz; Editing by Adrian Croft)

Jul 9, 2018

 

Mergers & Acquisitions

INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.

John Rynd / President , CEO and Director, Tidewater Inc.

Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics.

Odfjell Finalizes Sale of Rotterdam Tank Terminal

(Photo: Odfjell)

Norwegian shipping and tank terminal company Odfjell SE announced on Thursday that it has

Maersk to Merge Damco, Ocean Product Units

(Photo: Eric Haun)

A.P. Moller-Maersk will merge Damco Supply Chain Services and Maersk Line's Ocean Product

Container Ships

Maersk to Merge Damco, Ocean Product Units

A.P. Moller-Maersk will merge Damco Supply Chain Services and Maersk Line's Ocean Product, the Danish shipping giant announced on Wednesday, as it seeks to offer customers the

Yang Ming Launches New Container Vessel, 'YM Wellbeing'

File Photo: Yang Ming Marine Transport Corp.

YM Wellbeing, a new 14,000 TEU full-container vessel built by Imabari Shipbuilding Co., Ltd.

Maersk to Spend $2 Bln to Meet 2020 Sulphur Cap

(Photo: Eric Haun)

Maersk Line said it will introduce a new Bunker Adjustment Factor (BAF) surcharge designed to

Maritime Apps