The two biggest acquisitions in the international shipping industry in 2017 are progressing smoothly. Last week, Maersk and Cosco announced their latest developments through official channels: COSCO was approved by the U.S. Antitrust Declaration Department in the United States, and Maersk was approved by the Ministry of Commerce in China, despite a series of additional restrictions. But in the end, progress is steady!

COSCO Maritime Control: The Purchase of Overseas Oriental Offshore Tender has Completed US Antitrust Review

COSCO Ocean Control announced on November 8 that it was making progress in issuing a conditional, voluntary and comprehensive cash purchase offer to all shareholders of Oriental Overseas International (00316.HK) through its overseas wholly-owned subsidiary Faulkner Global Holdings Limited and the joint offeror Shanggang Group BVI Development Co., Ltd.

Up to now, the waiting period (including any extension) for the U.S. anti-monopoly review under the relevant provisions of the revised Hart-Scott-Rodino Antitrust Improvement Act 1976 has expired, and the offer has completed the U.S. anti-monopoly review.

Maersk Shipping's acquisition of Hamburg South America was approved by the Ministry of Commerce of China under additional restrictive conditions

On November 8, 2017, the proposal of Maersk Shipping to acquire Hamburg Syud was approved by the Ministry of Commerce of China under additional restrictive conditions.

Additional restrictions include:

Maersky Shipping promised that "Hamburg and South America will not continue to participate in the Far East-South America West Coast Ship Sharing Agreement when it expires";

Maersk Shipping also promised that "Hamburg South America will withdraw from the Far East-South America East Coast Ship Sharing Agreement as soon as possible".

In addition, Maersk Shipping promised to reduce its market share of cold container transportation with Hamburg and South America on the Far East-West Coast to [34-39]%.

And within three years after the delivery of this transaction, it maintained no higher than [34-39].

Hamburg South America continues to operate on these routes and will do so in the future. The above commitments are expected to take effect before the end of 2017.

S? Ren Toft, chief operating officer of Maersk Shipping, said: "We are very pleased that Maersk Shipping's proposal to buy Hamburg from South America has been approved by the Ministry of Commerce of China. For us, China is a very important market. We believe that the acquisition of Hamburg South America will bring more valuable services to the customers of the two companies.

Maersk's proposal to buy Hamburg South America needs to be approved by the relevant regulatory authorities of various countries. Before delivery, Maersk Shipping and Hamburg South America will continue to operate independently.