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From containers to tankers, from ship owning to ship management, market forces continue to incentivise mergers and acquisitions
Bank sells JR Shipping debts to UK-based fund ahead of privatisation
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Deal involves Imabari acquiring a stake in JMU and then the two firms establishing a joint venture named Nihon Shipyard to co-develop and sell vessels — except liquefied natural gas carriers. Asian shipyards have been consolidating recently as competition gets tougher amid the industry downturn
The acquisition of the stake in the French private airline group will enable CMA CGM’s expansion in the airfreight space
Will the second generation successor of Mr Chang’s empire bring the shipping business through the maelstrom ahead and beyond? SS Teo, who only recently took over as chairman, faces balancing the financial needs of the company with the loss of family control
Chief executive officer Søren Høll believes shipowners are seeking closer partnerships with their bunker suppliers as the short-term and long-term challenges become confused. The new venture seeks create more value
PSA will have the majority stake but no investment, operational or capacity details were revealed and the deal is subject to regulatory approvals. Besides volume and terminal capacity assurance, the two parties will also collaborate in operational technology developments and innovations
When container shipping was highly fragmented, establishing a loyal customer base through a quality container line with a recognisable brand made sense, but these days economies of scale are paramount, and that invariably means folding smaller, regional subsidiaries into one into one big carrier with global reach
Safmarine will cease to operate by the end of 2020. Elsewhere, Damco’s Air and LCL products will be combined with Maersk’s logistics and services products. Job losses are inevitable as the world’s largest container line takes the next steps in its transformation but numbers have not been disclosed
Zim appears to have carved out a clear position in the container shipping industry, allowing it to look ahead with confidence and consider how to repay shareholders that remained steadfast during periods of market turbulence, near bankruptcy and ownership uncertainties
The competition authority said there were sufficient viable alternative suppliers to both companies, particularly for VLCCs and liquefied natural carriers, but there are still many hurdles for the union
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