G6 Alliance to continue as normal in 2016

APL

The G6 Alliance will continue to operate as planned in 2016 despite planned acquisition of Neptune Orient Lines (NOL) by CMA CGM, which is expected to complete in the second half of this year.

NOL’s container line APL is a one of six members of the G6 Alliance.

“The transaction is subject to regulatory approvals. Until there is further development, the G6 Alliance assures that its current service structure will remain stable, and expects to operate as aligned through 2016,” NOL said.

Regulatory approvals for the $2.4bn buyout are not expected to be completed until mid-2016 with a mandatory general offer on the Singapore Exchange expected to take until some time in August.

“The G6 Alliance will make further announcements should there be any development,” NOL said.

There could also be changes to CMA CGM’s alliance arrangements in Ocean 3 with CSCL set to merge with fellow Chinese line Cosco.

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