Hapag-Lloyd has declared that its integration of the United Arab Shipping Company is now completed.
The two companies merged on May 24, 2017 so it has taken six months to bring together the operating businesses, the IT systems, the different fleets, and the corresponding departments and country organisations.
Hapag-Lloyd CEO said: “Thanks to the very good cooperation of our teams we have managed to successfully implement this integration in just six months. In the process, our extensive experience from earlier mergers – such as with CP Ships in 2005 and with CSAV in 2014 – helped us a lot.”
With more than 12,000 employees in five sales regions and 126 countries, as well as a fleet of 215 modern container ships, Hapag-Lloyd is now the fifth-largest liner shipping company in the world.
Beginning in 2019, Hapag-Lloyd expects annual synergies of US$435m as a result of the merger with UASC. “Already in 2018, we will benefit from the merger of the two shipping companies due to significant cost reductions,” Habben Jansen said.