EC OKs P&O, Royal Nedlloyd Split

Wednesday, March 31, 2004
The European Commission approved, pursuant to the Merger Regulation, a proposed transaction by which the British port operator P&O and the Dutch liner shipping company Royal Nedlloyd reorganize their common activities in the container liner shipping business.

In 1996 Royal Nedlloyd NV and Peninsular and Oriental Steam Navigation Company (P&O) transferred all their respective activities in containerized liner shipping services to a newly created joint venture called P&O Nedlloyd (PONL). The businesses transferred included all their container ships, their respective ocean freight-forwarding business, the container packing operation as well as the road haulage business and rail shuttle business. The creation of PONL was approved by the Commission in December 1996 as it concluded that no anti-competitive impact would arise in the markets of container liner shipping and stevedoring services. The present operation consists in the acquisition by Royal Nedlloyd of the 50% stake held by P&O in PONL. The acquisition was notified to the Commission in February. As a result of the transaction, Royal Nedlloyd will change its name to "Royal P&O Nedlloyd". PONL, as a 100% subsidiary of Royal P&O Nedlloyd, will become listed in the Netherlands. This operation will not lead to a material change in the competitive structure of the markets, where Royal Nedlloyd and PONL operate, because Royal Nedlloyd has not kept any liner shipping activities outside PONL. The Commission has therefore decided to clear the proposed operation.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

Adani Ports Income Up by 15%

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter

Shipping Corporation Q3 Profit Surges

The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0635 sec (16 req/sec)