CMA CGM acquires Mercosul 

French shipper CMA CGM has acquired Brazilian container shipping line Mercosul Line from Maersk for an undisclosed sum.

Maersk sold Mercosul in order to purchase Hamburg Süd. Otherwise it would not have received approval from Brazil's regulators who had to ensure that the country's shipping sector remains competitive. Hamburg Süd has a major subsidiary in Brazil and keeping Mercosul would have increased Maersk's share of the market to 80 percent. 

“Mercosul is a highly respected and well-run company with an excellent fleet and customer value proposition. It has been a valued brand in our portfolio and we wish the company and its dedicated people the best in the future,” Søren Toft, Maersk's Chief Operating Officer, said.

The acquisition “...allows CMA CGM to strengthen its service offering in Brazil, and more broadly in South America...” according to CMA CGM.

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The Panama Canal will increase the number of daily booking slots for vessels from six to seven in December 2017.

The Panama Canal embraces additional capacity and offers 7 additional slots to 23 slots available each day for transit. As per Panama Canal Administrator such increase  is the result of streamlined use of resources and effective collaboration. The additional slot is now available for ships transiting northbound, from the Pacific to Atlantic Ocean. The canal’s daily performance far exceeds the three to four daily transits originally expected. One of the  main aims of the Panama Canal is to continue to explore ways to expand its capacity offering  8  reservation slots by the end of the first quarter of 2018.

Irish Continental Group Signs Multiple Deals 

Irish Continental Group (ICG) has signed several new financing agreements.

Among them are a five-year revolving credit facility from Allied Irish Banks and Bank of Ireland worth EUR 75 million in committed funds and EUR 50 million in uncommitted funds.

European Investment Bank will provide a drawing limit of EUR 75 million for the financing of the new vessel W.B. Yeats.

Agreements have also been made with Metropolitan Life Insurance Company and Pricoa Capital Group totaling uncommitted drawing limits of USD 275 million.

These instruments will support ICG's long-term investment plans.

​Singapore Will ​Boast a New Super Berth Soon

A Memorandum of understanding was signed between Cosco Shipping Ports and PSA Corporation in order to establish a new and giant third berth CPT terminal. It will replace previous two berths and will start operations in January 2018. The upgrade will raise the terminal's annual capacity up to 3 million TEUs. The reconstruction is designated to meet the up-to-date cargo turnovers, to operate modern mega ships and to remain a significant maritime hub. A new berth, as previous two, is going to be controlled by an automated remote yard ensuring top efficiency and service quality.