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UTA expands cashless refuelling network
MOSCOW: June 19, 2018: Union Tank (UTA) has expand...

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CMA CGM acquires Finnish shortsea operator
MARSEILLE: June 20, 2018. CMA CGM is to acquire Co...

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Turkish Cargo helps cherry exporters
OSLO: June 20, 2018. Turkish Cargo has begun deliv...

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FedEx makes US$6.6 billion Boeing order
SEATTLE: June 19, 2018. FedEx Express has announce...

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Breakbulk Europe 2018 smashes attendance record
BREMEN, Germany: June 18, 2018. Breakbulk Europe s...

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DHL Freight goes green with LNG trucks
BONN, Germany: June 18, 2018: DHL Freight has cont...

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Brussels Airport gearing up for 60th birthday bash
BRUSSELS: June 18, 2018: This year sees Brussels A...

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Jet Airways takes off under RCS
ALLAHABAD, India: June 14, 2018. Jet Airways has c...

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Panalpina continues Latam expansion with Newport buy
BASEL, Switzerland: June 15, 2018. Panalpina has c...

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UTA expands cashless refuelling network
CMA CGM acquires Finnish shortsea operator
Turkish Cargo helps cherry exporters
FedEx makes US$6.6 billion Boeing order
Breakbulk Europe 2018 smashes attendance record
DHL Freight goes green with LNG trucks
Brussels Airport gearing up for 60th birthday bash...
Jet Airways takes off under RCS
Panalpina continues Latam expansion with Newport buy

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Hapag-Lloyd Delivery Al JmeliyahHAMBURG: September 28, 2017. Hapag-Lloyd is increasing its capital base by US$414 million with a share issue in order to reduce debt following its merger with UASC in May 2017.

The capital increase is backstopped by the company's primary shareholders: CSAV Germany Container Holding, Kuehne Maritime, Qatar Holding Germany, and The Public Investment Fund of the Kingdom of Saudi Arabia.

"Following the successful merger with UASC, we will use the capital increase to strengthen our capital structure and to use the proceeds to reduce the leverage of the company," said Hapag Lloyd CEO Rolf Habben Jansen. "This enables us to focus on enhancing our strategic and operating objectives," he added.

The announcement coincides with the delivery of the last of 17 containerships ordered by UASC in 2013 from Hyundai Samho Heavy Industries (HSHI), South Korea.

The 15,000 TEU "Al Jmeliyah", its 10 sister ships and six 19,900 TEU vessels, now make Hapag-Lloyd the fifth largest liner shipping company in the world. Company COO Anthony Firmin said the delivery meant the company has "no plans to order any more newbuilds in the foreseeable future".

The new vessel will begin operating this weekend on THE Alliance FE4 service between Asia and Northern Europe.

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