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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

UASC Introduces New Asia - Europe Network

UASC has introduced its new Asia – Europe Network with three new services (AEC1, AEC3, AEC4), and two enhanced services (AEC8, AEC9). These services will broaden

Global Shipping Exposed to Cyber Threats

The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age,

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.0895 sec (11 req/sec)