July 10, 2018 / 11:38 AM / a month ago

Hapag-Lloyd CEO says sees no big shipping mergers at moment

FRANKFURT (Reuters) - The chief executive of German container shipping liner Hapag Lloyd (HLAG.DE) said he was not aware of major merger activities in the sector a day after a Reuters report said his company had been approached by French rival CMA CGM [CMACG.UL].

FILE PHOTO: A port worker moves a Hapag-Lloyd container at the Port of Bilbao on the second day of a three-day strike by Spanish port workers to protest the reform of operations, aimed at liberalising hiring practices, in Santurtzi, northern Spain, June 7, 2017. REUTERS/Vincent West/File Photo

“We do not see major takeovers in the industry,” Rolf Habben Jansen said in a statement issued on the day of the firm’s annual general meeting in Hamburg.

“If at all, there are smaller tie-ups by niche players in the short term,” he said.

Reporting by Vera Eckert; Editing by Arno Schuetze

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