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

ABC and CLA go online thumbnail image

ABC and CLA go online

September 18 - Bookings for capacity on AirBridgeCargo (ABC) and CargoLogicAir (CLA) flights can now be completed via the cargo.one digital platform.
Views: 156
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 166
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 198
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 219

Heavy Lift Across The World

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