Hapag-Lloyd-UASC Defies Qatar Rift

por Redação | Iris Sant'Anna

19/06/2017

Hapag-Lloyd is proceeding with the integration of United Arab Emirates (UAE) shipping company UASC, which has owners in Qatar and Saudi Arabia, despite the severing of diplomatic ties between the countries

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Saudi Arabia has a 10% interest and Qatar has a 14% interest in the company created by the merger between Hapag-Lloyd and the UASC last month, which created a new Hapag-Lloyd.

Since then, a dispute between Qatar and four Arab nations including Saudi Arabia has led to a break-off in diplomatic ties.

A ban is in place in respect to the berthing of Qatar-flagged, Qatar-origin and Qatar-bound ships at ports in Egypt, UAE, Saudi Arabia and Bahrain.

Hapag-Lloyd-UASC’s integration is due to wrap up by the end of Q3 2017, and to effect a 10-12% cut in staff levels.

The process of switching services and bills of lading, referred to as a Commercial Cut-Over, will be completed in October 2017.

The combined shipping group is set to be a boon to its owners amid the industry downturn.

Hapag-Lloyd CEO Rolf Habben Jansen said: "The tie-up with UASC is going to plan. The blockade of Qatar (by neighbouring countries) has so far not caused any significant problems in our business. Operationally speaking, everything is under control."

 

Fonte: Port Tecnhology International

 

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