Latest news from Heavy Lift & Project Forwarding International Magazine

Hapag-Lloyd postpones AGM

May 25 - The Executive Board and the Supervisory Board of Hapag-Lloyd have cancelled the company's Annual General Meeting, which was scheduled for June 1, 2016.

 

The shipping line said that the reason for postponing the event is due to the ongoing talks between Hapag-Lloyd AG (HL) and United Arab Shipping Company SAG (UASC) regarding a potential combination of their container shipping activities that would, in the case of a successful finalisation of such talks, require potential amendments to the agenda.
The German shipping line advised that the AGM would be held in August 2016 at the latest.
Meanwhile, UASC announced the successful conclusion of a series of transactions that resulted in the issuance by a US-based trust of USD162 million of Enhanced Maritime Trust Certificates (EMTC) with the proceeds being used to finance the debt portion of two 2012-built 13,500 teu container vessels.
UASC says that the EMTC issuance received strong interest from institutional investors in Europe and the USA, and the transaction is expected to facilitate repeat capital market issuances by UASC that will afford it access to a broader investor base in the Investment Grade markets, a critical component of the shipping line's strategy to diversify its funding sources for its currently scheduled and anticipated long term capital expenditure programme.
www.hapag-lloyd.com
www.uasc.net

The shipping line said that the reason for postponing the event is due to the ongoing talks between Hapag-Lloyd AG (HL) and United Arab Shipping Company SAG (UASC) regarding a potential combination of their container shipping activities that would, in the case of a successful finalisation of such talks, require potential amendments to the agenda.

The German shipping line advised that the AGM would be held in August 2016 at the latest.Meanwhile, UASC announced the successful conclusion of a series of transactions that resulted in the issuance by a US-based trust of USD162 million of Enhanced Maritime Trust Certificates (EMTC) with the proceeds being used to finance the debt portion of two 2012-built 13,500 teu container vessels.

UASC says that the EMTC issuance received strong interest from institutional investors in Europe and the USA, and the transaction is expected to facilitate repeat capital market issuances by UASC that will afford it access to a broader investor base in the Investment Grade markets, a critical component of the shipping line's strategy to diversify its funding sources for its currently scheduled and anticipated long term capital expenditure programme.


www.hapag-lloyd.com


www.uasc.net

 

Heavy Lift | News

Zeaborn to take full control of Zeamarine thumbnail image

Zeaborn to take full control of Zeamarine

April 18 - The Zeaborn Group has signed an agreement to acquire the remaining shares in Zeamarine – the joint venture with Intermarine that was established in May 2018.
Views: 262
Panalpina improves profitability thumbnail image

Panalpina improves profitability

April 18 - In the first three months of 2019, Panalpina boosted its profitability by 15 percent compared to the same period of last year.
Views: 225
Wallem sets out strategy change thumbnail image

Wallem sets out strategy change

April 18 - Wallem has rebranded its corporate identity to reflect the company’s updated strategy and service offering. 
Views: 197

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.