Green light for merger
Hapag-Lloyd and United Arab Shipping Company (UASC) was given conditional approval for the merger. After the previous merger of Hapag in 2014 with CSAV. This is now creating a group of 7 to 8 billion euros.
The group will represent the 5th place in container shipping lines, getting close to number 4 COSCO. With the merger Hapag will get access to bigger ships for the Asian – Europe routes and UASC will get access to the strong part of Hapag on the America routes.
Read more at PTI.