World News
Maersk Line Receives Green Light from EU for Hamburg Süd Acquisition
Maersk Line Monday was granted antitrust approval by the European Union (EU) for the acquisition of Hamburg Süd on the condition that the German liner is removed from five vessel sharing agreements, Reuters reports.
As a result, Hamburg Süd is set to withdraw from consortia on trade routes from northern Europe to Central America, the west coast of South America and the Middle East.
"The commitments offered by Maersk Line and HSDG will maintain a healthy level of competition to the benefit of the very many EU companies that depend on these container shipping services," said Margrethe Vestager, European Competition Commissioner.
The development comes following news in March that Hamburg Süd's principal, Dr. August Oetker KG (Dr. Oetker), had signed a sale agreement with Maersk Line.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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