Hanjin Shipping Co Ltd (117930.KS) is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), a spokesman for the Seoul court overseeing the...
ABG Shipyard promoters to lose controlling stake
Promoters of debt-laden ABG Shipyard will soon be losing their controlling stake. The lenders have commenced conversion of compulsorily convertible preference shares (CCPS) into equity, part of its debt restructuring...
Stake sale in Russia’s Sovcomflot may involve new shares – sources
By Katya Golubkova and Kira Zavyalova The privatization of a 25 percent stake in Russian state shipping firm Sovcomflot may be equally split between existing and new shares, two sources close to the deal told Reuters on...
RBI allows foreign investors to raise stake in Adani Ports
MUMBAI: Reserve Bank has allowed foreign investors to hike their stakes in Adani Ports and Special Economic Zone Ltd and Multi Commodity Exchange to 49 per cent and 34 per cent, respectively. Foreign Institutional...
Maersk May Target Hanjin, Hyundai in New Acquisition Plan
A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according...
Maersk chairman says ready to take role in shipping takeovers
Denmark’s A.P. Moller-Maersk, the world’s largest container shipping group, is ready to use its financial muscle to swallow up struggling competitors as the industry heads for further consolidation, the...
Adani Ports agrees to buy Abbot Point Bulkcoal
MUMBAI: Adani Ports and Special Economic Zone’s(APSEZ) Australian unit has agreed to buy Abbot Point Bulk coal (APB), a company that operates Abbot Point Coal Terminal in Queensland. Under the agreement, Abbot...
Hapag-Lloyd CEO says planned UASC merger benefits to show in 2017
German container shipping line Hapag-Lloyd (HLAG.DE) expects to reap a third of targeted annual synergies of $400 million from its planned merger with Arab rival UASC next year, and realize them fully from 2019, its CEO...
MNC port services majors in talks to buy Ocean Sparkle
MUMBAI: Denmark’s Svitzer, Japan’s K Line and Australia’s Qube Logistics are among the strategic investors in talks with Hyderabad-based Ocean Sparkle to acquire a controlling stake in the company, in...
Hapag-Lloyd warns on profit, seals UASC merger deal
German container line Hapag-Lloyd warned investors that profit would fall in 2016 and signed a binding agreement with Arab peer UASC to form the world’s fifth-largest shipping company in response to a global...
Religare Finvest acquires 24.49% stake in ABG Shipyard
Mumbai: Religare Finvest Ltd, a subsidiary of Religare Enterprises Ltd, has acquired 1.32 million pledged shares of India’s largest private shipbuilder ABG Shipyard Ltd to take a 24.49% stake in the debt-laden company...
Hapag-Lloyd agrees merger terms with shipping peer UASC
German container shipping line Hapag-Lloyd AG (HLAG.DE) has agreed on a merger deal with United Arab Shipping Company (UASC), creating a group with an estimated value of 7 to 8 billion euros($7.7-8.9 billion), as both...
