Report: EU Regulators to Clear Maersk’s Hamburg Süd Deal

0
106
  • As UASC Boxship Refloated after Grounding off Malaysia

The EU regulators will approve the acquisition deal between Danish shipping major Maersk Line and its German counterpart Hamburg Süd under a condition that the German carrier withdraws from certain trades, Reuters reports.

Details on the trades in question were not specified, however.

Maersk Line submitted commitments to the European Commission on March 20 aimed at removing potential competition related impediments to its acquisition of shares in Hamburg Süd.

Following the submission, the EU Commission said it would announce its decision on the merger by April 10.

The company, however, did not disclose what remedies were offered as those were “available only for the market participants addressed by the European Commission in its current remedies market investigation.”

Maersk Line said earlier that, subject to regulatory approval, it expects to close the transaction by the end of 2017.

The Danish container shipping company inked the sale and purchase agreement for the acquisition of the German carrier on March 14.

Commenting on the matter Maersk Line’s spokesperson Michael Storgaard said the company expects a decision early next week. The outcome of the decision was not commented.

Separately, Hamburg Süd has topped the SeaIntel Global Liner Performance Report for February 2017 in the schedule reliability category for the third month in a row. On the average for 2016, Hamburg Süd achieved second place among 20 container lines rated.

In the meantime, the containership UMM Salal which ran aground off Malaysian Port Klang on April 6 was successfully refloated on April 7, United Arab Shipping Company (UASC), the vessel’s owner, told World Maritime News in a statement.

The grounding occurred while the 13,500 TEU boxship was sailing from Port Klang to Khor Fakkan, United Arab Emirates, on the company’s Asia/Gulf Express 1 (AGX1) route.

“UASC crew is safe and accounted for and no pollution was reported. An underwater survey has been conducted reporting no damage to the vessel or cargo onboard but the incident has caused a slight 24-hour delay to the sailing schedule,” UASC said.

UASC added that the 2011-built UMM Salal is currently en route to Khor Fakkan as part of its normal rotation. The ship is expected to reach the port on April 13.

World Maritime News

LEAVE A REPLY

Please enter your comment!
Please enter your name here