UASC owners support Hapag-Lloyd merger

The four countries which currently own the United Arab Shipping Company (UASC) have approved an amendment to the company’s rules which would allow it to merge with Hapag-Lloyd.

At an extraordinary general meeting, Qatar, Saudi Arabia, Kuwait and the United Arab Emirates have approved amendments to the company’s articles of association so that they allow for a merger.

While no binding vote was held, as the details of the merger have not been finalised, the decision indicates that UASC’s owners support the merger, at least in theory.