Gemini carriers cut back loading allocations on challenging southern India trade
Southern India’s ocean trade continues to be a challenging market for both Maersk and Hapag-Lloyd, ...
Photo: Gram Car Carriers
MSC has launched an opportunistic effort to break into the car-carrying market with a bid to acquire Gram Car Carriers (GCC).
Announcing the bid, which values the world’s third largest car-carrier at $700m, and the Gram board’s unanimous recommendation that shareholders accept it, the firm said the offer represented a 28.3% premium on GCC’s stock price yesterday.
Chair Ivar Myklebust added: “The board is satisfied the offer represents a fair valuation, as is reflected in the ...
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