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...
Hanjin Shipping Rises as Merger Hope Eases Survival Concern
Hanjin Shipping Co. gained the most in a week in Seoul trading as concerns that the unprofitable shipping line wouldn’t be able to survive eased after the government indicated a merger with a smaller rival is possible...
ABG raises offer price for Great Offshore to Rs 520
The battle for Great Offshore has intensified with ABG Shipyard again hiking the offer price to Rs 520 a share after making a series of bulk and block purchases of Great Offshore stocks in the last few days. ABG...
ABG Shipyard ups Great Offshore offer price to Rs. 450
Stepping up the intensity of rivalry in taking over drilling firm Great Offshore, ABG Shipyard today further increased the open offer price, the second since June, offering Rs 520 a share. ABG, which is pitched against...
ABG Shipyard hikes stake in Great Offshore, raises open offer price
The bid to control Great offshore took a new turn on Wednesday after ABG Shipyard acquired over 19.26 lakh shares of Great Offshore in separate bulk deals on the BSE and NSE at Rs 450 a share. This has automatically...
