Shipping and Maritime

PwC Advises Court to Liquidate Hanjin Shipping

PwC Advises Court to Liquidate Hanjin Shipping

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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Hapag-Lloyd Enters Post-Panamax Market

Hapag-Lloyd holds naming ceremony for first 10,500 TEU ship “Valparaíso Express”
Hapag-Lloyd Enters Post-Panamax Market

PRESS RELEASE

Hapag-Lloyd held a naming ceremony for the “Valparaíso Express”, the first of five new vessels in its new 10,500 TEU class, today. Mrs. Rozío Gonzaléz, the wife of Mr. Andrónico Luksic, Chairman of the Board of the Quiñenco Group, performed the ceremony at the Terminal Pacifico Sur (TPS) in the port of Valparaíso, where the new ship will call regularly in future.

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Maersk Line to acquire Hamburg Süd

Maersk Line to acquire Hamburg Süd

PRESS RELEASE

Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals.

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E.U. Backs Hapag-Lloyd, UASC Merger

E.U. Backs Hapag-Lloyd, UASC Merger

The European Commission on Wednesday said it has given its conditional approval to a merger between German container shipping line Hapag-Lloyd and the United Arab Shipping Company (UASC).

The merger would 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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Japan Lines MOL, NYK, K Line to Join Shipping, Terminal Ops

Japan Lines MOL, NYK, K Line to Join Shipping, Terminal Ops

Three major Japanese container shipping lines said Monday they plan to merge their shipping and overseas terminal operations as the industry struggles with overcapacity and mounting losses.

Mitsui O.S.K. Lines, Nippon Yusen K.K. and Kawasaki Kisen Kaisha, or K Line, said in a statement that they are forming a joint venture to unite their shipping operations. They also are merging terminal management businesses outside Japan.

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