[vc_row][vc_column][vc_column_text]Combined fleet will have 230 vessels (1.6 m TEUs) & will be one of the youngest in the industry
Hapag-Lloyd and United Arab Shipping Company (UASC) completed their merger on Wednesday, May 24, 2017 in Hamburg. With 230 vessels and a shared fleet capacity of approximately 1.6 million TEUs, Hapag-Lloyd is the fifth-largest liner shipping company in the world. It will remain a publicly-traded company registered in Germany with its headquarters in Hamburg
“This is an important strategic milestone and a big step forward for Hapag-Lloyd,” said Mr Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd. “We now not only have a very strong market position in Latin America and the Atlantic, but also in the Middle East, where we will become one of the leading carriers. Our priority now is a smooth and fast integration of UASC and Hapag-Lloyd.”
The business combination agreement (BCA) had already been signed in Hamburg in July 2016. Since then roughly a dozen competition authorities across the world had to grant their approval. In addition, changes in the corporate legal structure were made and the consent of several banks was obtained.
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