TUI's Hapag-Lloyd Stake Drops after CSAV Tie-Up

MarineLink.com
Wednesday, April 16, 2014
Photo courtesy Hapag-Lloyd

German travel and tourism company TUI AG's stake in container shipping company Hapag-Lloyd will drop to 13.9 percent following the latter's tie-up with Chilean peer Compania SudAmericana de Vapores.

TUI, which also controls Europe's largest tour operator TUI Travel, currently owns 22 percent in Hapag-Lloyd, but this will drop first to 15 percent as part of the merger and then to 13.9 percent, because TUI will not participate in a planned capital increase.

TUI, which has long planned to exit shipping, will also get priority placement rights for its remaining stake as part of Hapag-Lloyd's planned stock market flotation in 2015, it said in an internal letter, seen by Reuters.

Thee deal between Vapores and Hapag-Lloyd will create the world's fourth-largest container-shipping company.

(Reporting by Victoria Bryan, editing by David Evans)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Navy

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

Fond Farewell to HMAS Tobruk

The Governor-General, His Excellency General the Honourable Sir Peter Cosgrove, AK, MC (Retd), together with the Assistant Minister for Defence Stuart Robert, MP,

Finance

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

Container Ships

Hapag-Lloyd Adds Halmstad to Rotation

As one of the top global carriers Hapag-Lloyd offers a comprehensive service network and will add port of Halmstad, Sweden to the Nordic Short Sea Network. As

China Shipping Orders Eight 13500 TEU Box Ships

China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing

Shanghai 6th Best Shipping Center Globally

Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative,

Mergers & Acquisitions

MHI: Notice of Absorption-Type Split Agreements

MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two

Calais Port Blocked Again by Protesters

Protesting ferry-workers blocked road access to the northern French port of Calais with burning tyres on Friday, police said. The workers have in recent weeks

BBC Chartering Opens Vietnam Office

BBC Chartering announces the opening of a new representative office in Ho Chi Minh City, Vietnam, starting August 1st breakbulk, and general cargo transportation

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1761 sec (6 req/sec)