Hapag-Lloyd and UASC Merger
On Wednesday 24 of May, Hapag-Lloyd completed its long-awaited merger with UASC and turned its attention to integrating the world's twelfth-largest container line into its business. The combined entity will control more than seven percent of the world's capacity by TEU.
CEO Rolf Habben Jansen notes that Hapag will retain its leadership in Latin America and the Atlantic, and will now have a particularly strong position in the Middle East thanks to UASC's regional presence.
The parties agreed to the merger last July and it was scheduled to be finalized by the end of March, but issues related to UASC's creditors prevented Hapag from completing it until this week. The operations of all 45 UASC services and 58 UASC vessels should be fully integrated into Hapag's service routes by the fall of 2017. At that point, all transactions that currently occur on UASC's IT platforms will shift over to Hapag-Lloyd's systems.