Merging of Hapag-Lloyd and UASC shipping lines
On May 24 of this year Hapag-Lloyd completed the long-awaited merger with UASC and began to integrate the world's 12th largest container line into its business. The joint organization will control more than seven percent of TEU shipments in the world.
The head manager Rolf Habben Jansen notes that Hapag-Lloyd will retain its leadership in Latin America and the Atlantic and will have a particularly strong position in the Middle East now thanks to the regional presence of UASC.
The parties agreed to a merger in July last year, which was due to be completed by the end of March, but issues related to UASC creditors did not allow Hapag-Lloyd to complete it before this week.
All services and 58 UASC vessels should be fully integrated into the Hapag service routes by the fall of 2017. At this point, all transactions that currently occur on UASC computer platforms will be transferred to Hapag-Lloyd systems.