November 30 - Hapag-Lloyd has completed the integration of United Arab Shipping Company (UASC) into the group, six months after starting the merger process.
Hapag-Lloyd merged with the UASC on May 24, 2017, as HLPFI reported here.
In the subsequent six months, the operating businesses, IT systems, fleets, and the corresponding departments and country organisations were brought together, and Hapag-Lloyd now offers 125 liner services.
According to Hapag-Lloyd, with more than 12,000 employees and a fleet of 215 containerships, it is now the fifth largest liner shipping company in the world.
Beginning in 2019, the Germany-based shipping line expects annual synergies of USD435 million as a result of the merger with UASC.