Shipping and Maritime

Maersk Elects New Chairman

Maersk Elects New Chairman

April 1, 2017

A.P. Møller – Mærsk elected Jim Hagemann Snabe as chairman of the board on Tuesday.

Snabe, former CEO of German software house SAP, is committed to automation technology, reports Reuters. The more than 100-year-old conglomerate’s digital push will mean that in theory, it should be as easy to book a container as booking an airline ticket, he said shortly after he was elected.
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Hapag-Lloyd, UASC Merger Delayed

Hapag-Lloyd, UASC Merger Delayed

March 18, 2017

Hapag-Lloyd and UASC have mutually agreed to delay the finalization of their merger until May 31.

The merger will create a combined company worth about seven to eight billion euros ($7.5 to $8.6 billion). It would be the world’s fifth largest shipping firm, with access to the Asia-to-Europe trade route and trans-Atlantic and trans-Pacific routes.
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World’s Largest Container Ship Named

World's Largest Container Ship Named

March 15, 2017

Samsung Heavy Industries held a naming ceremony for the world’s largest container ship at its Geoje yard on Wednesday.

The 20,150 TEUs MOL Triumph is the first of four ultra-large container ships being built for MOL of Japan. The vessels were ordered in February 2015, and steel was cut for MOL Triumph in January 2016.
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Maersk and Hamburg Süd in East-West Deal

Maersk and Hamburg Süd in East-West Deal

February 7, 2017

Maersk Line and Hamburg Süd have announced a slot purchase agreement for Hamburg Süd’s volumes on the East-West trades to be shipped on vessels in the 2M network, the shipping alliance between Maersk Line and Mediterranean Shipping Line.
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PwC Advises Court to Liquidate Hanjin Shipping

PwC Advises Court to Liquidate Hanjin Shipping

December 14, 2016

On Tuesday, the South Korean division of global accountancy firm PricewaterhouseCoopers (PwC) recommended the full liquidation of the bankrupt container carrier Hanjin Shipping. 

“Liquidating Hanjin is more economically viable than letting it continue business on a going concern basis,” the firm said in a Korean court filing.
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