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Tuesday, 2 August 2016

Optimism regarding jobs in United Arab Shipping and Hapag-Lloyd merger | The National

Optimism regarding jobs in United Arab Shipping and Hapag-Lloyd merger | The National:

"United Arab Shipping Co (UASC), which is merging with the German container shipper Hapag-Lloyd, expects most of the tie-up’s US$400 million cost savings to come from operations rather than lay-offs, its chief executive says.

UASC and Hapag-Lloyd are merging by the end of this year to become the world’s fifth-largest container carrier as a wave of consolidation in the container shipping industry accelerates.


"Our initial hypothesis is there will be fewer lay-offs than many people would normally expect in a merger," Jorn Hinge tells The National."



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