World News
DNV-GL Merger Could Close this Month
Det Norske Veritas (DNV) says that, pending clearance from Chinese competition authorities, it hopes to close its merger with Germanischer Lloyd SE (GL) this month.
The companies have already received approval from the other three required jurisdictions: South Korea, the U.S., and the European Union (EU).
"Given the timeline, the past six months laid emphasis on integration planning so that we are ready to start operating as one company as soon as possible," said DNV Group CFO Thomas Vogth-Eriksen.
CEO Henrik O. Madsen said the deal will help its customers, employees, and other stakeholders.
"Once merged, we look forward to offering the best capabilities of our respective organisations to further advance the industries we serve," he said.
"We will have the global positions, expertise and resources required to provide guidance and support in a business environment where the need for independent technical skills and risk management is clearly evident."
The two companies announced plans for the merger, which will produce a 17,000-employee company, headquartered in Høvik, Norway with Madsen as the CEO, in December 2012.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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