The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
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Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
Peter Friedmann accused container lines of bungling the International Maritime Organization's new container weight verification requirement, and said some now realize they face high internal costs unless they offer a more flexible approach.
World Shipping Council President John Butler said existing regulations are adequate to manage economic competition and air pollution.