EU Gives Green Light to Stena-Hyundai Glovis Joint Venture

stena-lineImage Courtesy: Stena Line

The European Commission has approved the creation of a joint venture by Swedish Stena Rederi, part of Stena AB, and German Glovis Europe, which is controlled by South Korean Hyundai Glovis.

As informed, the joint venture will mainly operate short-sea transport services on pure car and truck carrier (PCTC) vessels in Europe.

“The commission concluded that the proposed acquisition would raise no competition concerns, because of the limited activities of the joint venture and the absence of horizontal overlap or vertical relationship between its activities and those of its parent companies in the European Economic Area,” the European Commission said after examining the transaction.

Stena Rederi supports the shipping activities of its parent company Stena by providing shipbuilding, crewing and technical services.

Glovis Europe provides logistics services for finished vehicles and parts and supports the global deep-sea activities of its parent company Hyundai Glovis, an integrated global logistics and distribution company.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >