Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

G6 Alliance to continue as normal in 2016 following NOL buyout announcement

G6 Alliance to continue as normal in 2016 following NOL buyout announcement
The G6 Alliance will continue to operate as planned in 2016 despite planned acquisition of Neptune Orient Lines (NOL) by CMA CGM, which is expected to complete in the second half of this year.

NOL’s container line APL is a one of six members of the G6 Alliance. When CMA CGM announced its plans on Monday to acquire the Singapore-headquartered line said it planned to bring APL into the Ocean 3 alliance of which it is a member along with UASC and China Shipping Container Line (CSCL).

“The transaction is subject to regulatory approvals. Until there is further development, the G6 Alliance assures that its current service structure will remain stable, and expects to operate as aligned through 2016,” NOL said.

Regulatory approvals for the $2.4bn buyout are not expected to be completed until mid-2016 with a mandatory general offer on the Singapore Exchange expected to take until some time in August.

“The G6 Alliance will make further announcements should there be any development,” NOL said.

There could also be changes to CMA CGM’s alliance arrangements in Ocean 3 with CSCL set to merge with fellow Chinese line Cosco.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
TMSRPan21-22 Category Promo 600_600-resize
Read Now

The 21st Edition of Panama Maritime Review

"We will invest in digital transformation, exploring innovative ways in which we can maxinimise the Canal's capacity to provide value guarentee quality of service to our customers."

Ricaurte Vásquez Morales, Panama Canal Administrator

Read Panama Maritime Review 2021/22 to find out more.

TMSRPan21-22 Category Promo 600_600-resize