Brazil’s competition regulatory agency Conselho Administrativo de Defesa Economica (CADE) has approved without conditions the merger between German ocean carrier Hapag-Lloyd and Chilean shipping line Compañía Sud Americana de Vapores (CSAV).
“Hapag-Lloyd welcomes the unconditional clearance under Brazilian merger regulations for the planned integration of the container shipping activities of Compañía Sud Americana de Vapores (CSAV) into Hapag-Lloyd,” the Hamburg-based box liner said in a statement.
Hapag-Lloyd and CSAV signed a binding business combination agreement in April subject for the approval of regulatory authorities. Among others, the Department of Justice of the United States, the European Union, and Chile have already cleared the planned transaction. Approvals of a few jurisdictions are still pending.
The transaction will make Hapag-Lloyd the fourth largest container shipping company in the world, with some 200 vessels, an annual transport volume of 7.5 million TEUs, and a combined turnover of about EUR9 billion (US$11.3 billion).
Hapag-Lloyd’s new North America-East Asia rates take effect next month
In related news, Hapag-Lloyd said it will impose a general rate increase on the North America-East Asia trades.
With effect from December 1, 2014, the shipping firm’s rates for dry commodities from Canada and the United States to East Asia, the Indian Sub-Continent, and the Middle East will increase by US$80 per 20-foot container and $100 per 40-foot container.
East Asia is comprised of Japan, Republic of Korea, Taiwan, Hong Kong, China, Macau, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Brunei, Indonesia, Philippines, and the Russian Pacific Ports of Vladivostok and Vostochny.
The Indian Sub-Continent consists of India, Pakistan, Bangladesh, and Sri Lanka.
The Middle East covers Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, Sudan, United Arab Emirates, Yemen and the Red Sea Ports of Egypt, and Saudi Arabia.
CSAV christens 2 newbuilds
Meanwhile, CSAV has received two new box ships from Korean shipyard Samsung Heavy Industries, the first of the seven new container vessels on order to enable the carrier to increase its own fleet.
Container ships “Copiapo” and “Cautin” were christened recently in South Korea in ceremonies attended by CSAV chairman Francisco Perez Mackenna and CEO Oscar Hasbun.
Hasbun said the newbuilds will also replace part of the chartered vessels, “so by the end of 2015 about 50% of our fleet will be owned by CSAV.”
These container ships have a slot capacity of 9,300 TEUs and can reach speeds of 10 to 22 knots at maximum load.
MV Copiapo will be delivered on November 26 and will start operations in Shanghai on the trade between Asian ports and the Persian Gulf, while MV Cautin will be received on December 18 and will operate on the service linking the ports of Northern Europe with the East Coast of South America.
Photo: AlfvanBeem
