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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A combination of businesses between United Arab Shipping Co., which is jointly owned by the governments of six wealthy Middle Eastern nations, and Hapag-Lloyd of Germany has "strategic value," and talks will continue, the ocean carrier said in a statement.
Announcements by terminal operators in Oakland and Los Angeles/Long Beach are "positive steps toward achieving the flexibility of compliance" with the new SOLAS verified gross mass rule, says Federal Maritime Commission Chairman Mario Cordero.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”