The European Commission has adopted a decision to prohibit a merger that would combine two South Korean shipbuilding companies, Hyundai Heavy Industries Holdings (HHIH) and Daewoo Shipbuilding &…
https://www.offshore-energy.biz/in-long-awaited-decision-eu-blocks-hhi-dsme-merger/
What defines whether a merger is in the “public interest” and whether it is beneficial or harmful are questions that the Surface Transportation Board may need to unpack as it reviews mergers between Class I railroads, including the proposed acquisition of Kansas City Southern (NYSE: KSU) by CN (NYSE: CNI).
The regulatory agency has been receiving public comments on the voting trust that CN hopes to establish as part of the process to acquire KCS. Should STB approve the voting trust, merger...
https://www.freightwaves.com/news/shippers-want-stb-to-clarify-what-it-wants-from-merger-applicants
The Norwegian competition authority (NCA) has issued a Statement of objections to Floatel and Prosafe regarding the proposed merger, on September 16. However, Floatel and Prosafe released a statement, saying that they do not agree with the NCA decision.
According to Lars Sørgard, the agency’s director of competition, Prosafe and Floatel are the only companies providing newer semi-submersible housing platforms on the Norwegian continental shelf. For this reason, the Norwegian Competition...
https://safety4sea.com/norways-competition-authority-objects-to-floatel-prosafe-merging/
Several mergers between Chinese shipbuilders are putting South Korean mid-size companies, which are already struggling, into risk. Because of these mergers, are medium-sized Korean shipyards worry that they could lose deals to construct oil tankers to Chinese companies, like it happened for bulk carriers.
China’s two largest dockyards, namely China CSSC Holdings Ltd. (CSSC) and China Shipbuilding Industry Corp. (CSIC) are considering to merge. After this development, China’s four largest...
https://safety4sea.com/mergers-of-chinese-shipbuilders-put-s-korean-companies-at-risk/
Japanese energy company JERA and EDF Trading Limited (EDFT) announced the completion of the transaction to merge their LNG optimisation and trading activities into JERA Global Markets (JERAGM), the new name for JERA Trading Pte. Ltd. This transaction follows the completion of the acquisition of EDFT’s coal business by JERAGM on 4 April 2017.
JERAGM is now the exclusive LNG optimiser for JERA and EDF S.A., managing their collective short and medium-term LNG optimisation activities in the...
https://safety4sea.com/jera-edf-trading-complete-lng-optimisation-and-trading-merger/
Diamond S Shipping Inc. announced that the merger of the business and operations of DSS Holdings and the crude and product tanker business of Capital Product Partners has been completed. Diamond S common stock began regular-way trading on the New York Stock Exchange on March 28.
Diamond S Shipping now owns and operates 68 vessels on the water, including 15 Suezmax vessels, one Aframax and 52 medium-range (MR) product tankers. It is considered is one of the largest energy shipping companies...
Detentions and arrests, missed compliance deadlines, mergers and more; Craig Jallal predicts the top trends for the ballast water sector for 2019, reports Ballast Water Treatment Technology.
2019: Record-Breaking Year for USCG DetentionsWhere there is a regulation, there must follow an example being made of the rule breakers to get the word out about the regulation. Therefore, Craig makes the sad prediction that more ships will be detained and more crew arrested in 2019.
The bulk of these arrests...
http://mfame.guru/five-ballast-water-related-predictions-for-2019/
Releasing its 2018 financial results, CMA CGM notes that in 2019, despite persisting geopolitical tensions, trade perspectives are positive. In addition, the company will also try to improve profitability. For this reason, it is launching a new USD 1.2 billion cost reduction plan.
For 2019, CMA CGM announced that it will implement a global plan to enhance its operational performance with a cost savings objective of USD 1.2 billion. This will be achieved by the optimization of lines and rands,...
https://safety4sea.com/cma-cgm-announces-1-2-billion-cost-reduction-plan/
Two of the biggest container shipping companies, Maersk and the Mediterranean Shipping Company (MSC), were cleared in an investigation of the sector by the US Department of Justice (DoJ), on Tuesday February 26.
Namely, Maersk and the Mediterranean Shipping Company (MSC) were among a number of companies that were ordered to testify in an antitrust investigation that started in 2017. The investigation regarded practices by the shipping industry.
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https://safety4sea.com/us-investigation-clears-major-shipping-companies/
Organisations representing the main maritime logistics industry stakeholders, as well as EU national maritime authorities, met on February 8 in Paris to discuss about the EU Consortia Block Exemption Regulation. The associations attempted to assess the validity of the BER, which provides the liner shipping industry an exemption from normal competition rules.
Namely, CLECAT, ETA, EBA, EBU, ESO, IWT, ESC, FEPORT and the GSF, all agreed that market developments which took place over the last five...
https://safety4sea.com/transport-associations-oppose-to-eu-consortia-block-exemption-regulation/