Hapag-Lloyd cleared a key hurdle in its efforts to join forces with liner rival United Arab Shipping Co (UASC).
The Hamburg-headquartered containership operator said shareholders have approved an increase of authorised share capital, a requirement to create the “capital conditions” to forge ahead with the merger.
“We intend to bring the skills of Hapag-Lloyd and UASC together in such a way that the company is in a stronger position to face both current and future industry challenges,” said the German company’s chief executive, Rolf Habben Jansen.
