Cosco takeover of OOCL cleared for completion

Cosco Shipping Holdings has received all the approvals required for its takeover of Orient Overseas International one day ahead the 30 June deadline for the $6.27bn. A statement issued on 29 June Cosco Shipping said all preconditions for the takeover offer of the Hong Kong-listed, family-owned container shipping company had been met. Outstanding approval from […]

CMA CGM

Exclusive: France’s CMA CGM made merger approach to Germany’s Hapag-Lloyd – sources Jonathan Saul, Arno Schuetze LONDON/FRANKFURT (Reuters) – The world’s no. 3 container shipping line, CMA CGM of France, has made an exploratory approach to German rival Hapag-Lloyd (HLAG.DE) over a possible merger as players in the sector hunt for tie-ups to beat depressed […]

Maersk and IBM to form joint venture applying blockchain to improve global trade and digitise supply chains

Maersk and IBM to form joint venture applying blockchain to improve global trade and digitise supply chains A.P. Moller – Maersk (MAERSKb.CO) and IBM (NYSE: IBM) today announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. Traditional cross-border shipping processes usually involve […]