13.05.2016
Hapag-Lloyd AG DE000HLAG475
DGAP-News: Hapag-Lloyd AG: Hanjin, Hapag-Lloyd, 'K'Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming to create a new partnership 'THE Alliance'
DGAP-News: Hapag-Lloyd AG / Key word(s): Alliance
Hapag-Lloyd AG: Hanjin, Hapag-Lloyd, 'K'Line, Mitsui O.S.K. Lines, Nippon
Yusen Kaisha and Yang Ming to create a new partnership 'THE Alliance'
13.05.2016 / 07:58
The issuer is solely responsible for the content of this announcement.
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Hamburg, 13 May 2016
Hanjin, Hapag-Lloyd, "K"Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and
Yang Ming to create a new partnership "THE Alliance"
All East-West trade lanes covered / Start in April 2017 / 18% share of
global container fleet capacity
Hanjin, Hapag-Lloyd, "K"Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and
Yang Ming have agreed to create a new alliance covering all East-West trade
lanes namely, Asia-Europe/ Mediterranean, Asia-North America West Coast,
Asia-North America East Coast, Transatlantic and Asia-Middle East/Persian
Gulf/Red Sea. A binding agreement has been concluded by all partners and
"THE Alliance" is scheduled to begin operation in April 2017 subject to
approval of all relevant regulatory authorities. The initial term of the
cooperation will be five years.
The new partnership will build one of the leading networks in the container
shipping industry combining approximately 3.5 million TEU or 18% share of
the global container fleet capacity. All six partners operate advanced and
competitive fleets with more than 620 ships in total. This will become the
basis of a dedicated fleet deployed into the groups' future service
portfolio. Clients will be able to enjoy an outstanding product
characterized by fast transit times, high frequency sailings and expansive
port coverage.
Ongoing discussions between Hapag-Lloyd and UASC are progressing according
to plan, although an agreement on business combination has not yet been
reached and will in any
event be subject to regulatory approvals. It is anticipated that UASC will
become part of "THE Alliance", which will increase the overall alliance
capacity to more than 4 million TEU.
"This agreement is a milestone and will enable the six partners of THE
Alliance to offer sailing frequencies and direct coverage in the market,"
member carriers said in a statement. "The unique product will feature
enhanced port coverage in Asia, North America, Europe including the
Mediterranean as well as Middle East. The network of THE Alliance will
ensure frequent sailings, high reliability and very attractive transit
times for all shippers in the East-West trade lanes."
More details on the services and port rotations will be published when all
necessary preparations are finalized.
About Hapag-Lloyd
With a fleet of 175 modern container ships and a total capacity of 955,000
TEU, Hapag-Lloyd is one of the world's leading container liner shipping
companies. The Company has approx. 9,400 employees at 366 sites in 118
countries. Hapag-Lloyd has a container fleet of 1.6 million TEU - including
one of the world's largest and state-of-the-art reefer fleets. 122 liner
services worldwide ensure fast, reliable connections between all the
continents. Hapag-Lloyd is one of the leading operators in the Atlantic,
Latin America and Intra Americas trades.
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13.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Germany
Phone: +49 (0) 40 3001 - 2896
Fax: +49 (0) 40 3001 - 72896
E-mail: [email protected]
Internet: www.hapag-lloyd.com
ISIN: DE000HLAG475, USD33048AA36
WKN: HLAG47, A1E8QB
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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463477 13.05.2016
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