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21 November 2024 - Year XXVIII
Independent journal on economy and transport policy
11:29 GMT+1
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BRIEFS
October 9, 2018
Sched Netweb site
  • Maritime and Port Authority of Singapore joins SEALNG to boost LNG use
  • APL: Massive global bunkering infrastructure needed to make LNG viable
  • Drewry: Trade not as good as first thought and now in steep decline
  • Difficult times ahead for container carriers, says BlueWater Reporting
  • Seaspan now into energy, buys 'beleaguered' Swiber for US$20 million
  • Buenos Aires needs more capacity, but OECD critical of state's approach
  • SSA Containers boss DeNike, who loves 'waterfront life', wins Connie
  • Senate Democrats: USMCA ratification hinges on deal's social teeth
  • Kenya's ports handled 30,495 TEU in the week ending September 19
  • Ballast Water Management Conference in Rotterdam on November 7-8
  • Air Partner moves airport gear aboard Antonov An-26 to war-torn Libya
  • Boeing invests more on freighters as e-commerce demands rise worldwide
  • Ontario International Airport cargo up 17pc, passengers up 18pc

Exim Indiaweb site
OCTOBER 8, 2018
  • COSCO Shipping Ports reports high volumes in Aug.
  • Emergency Port Congestion Surcharge at Lagos, Nigeria
  • Green Corridor JIP delivers innovative bulk carrier designs for a low emissions future
  • Milaha achieves five-star grading in British Safety Council's Occupational Health & Safety Audit
  • New mega investment in port of Antwerp
  • Parekh Group organises successful blood donation camp in Mumbai
  • South Korea's SK Shipping likely to be sold: Reports
  • JNPT concludes Swachh Bharat Pakhawada with great support
  • InterRail opens new branch office in New Delhi
  • Maharashtra seen as a potential logistics hub of the country
  • Russian investment in India to be fast tracked
  • Pune to host first-ever shipping & logistics conference on Oct. 13

International Transport Journalweb site
  • New branch on CDG airport
  • India and Russia to develop freight terminals
  • The global benefits of aviation
  • TBS Logistics increases warehouse space
  • Shuttle connects Maasvlakte II and Venlo
  • Hainan Airlines selects ECS Group in Zurich
  • C.H. Robinson names new director
  • Turkish Cargo carries horde of predators
  • "Curiosity of the Day"
  • China traffic continues to surge
  • Stepping up infrastructure for up to 500 t
  • HHLA, MAN and VW test autonomous trucks
  • Helpline to reduce seafarer suicides
  • Interrail opens branch office in New Delhi
  • FPSO secured by GAC South Africa
  • "Toru's getting cleverer"
  • Volvo hands over one millionth truck
  • Amware acquires Iron Mountain fulfilment unit
  • ALC welcomes Inland Rail PPP announcement
  • Latam Cargo goes "pharma passive" in London
  • Mukran catches Blue Water eye
  • Antonov snaps up "Charter Airlines of the Year" award
  • New service from Northern Ireland
  • Short line railroad starts hauling in Illinois
  • Bottle filling machine from "O" capital to Uganda
  • DP World Southampton enhances equipment
  • Corbel chosen as new Ceva CFO
  • Double celebration for BLG
  • American Airlines opens doors of new Milan facility
  • Rotterdam to Hungary in 30 hours

IHS Maritimeweb site
OCTOBER 8, 2018
  • Hapag-Lloyd adopts new fuel recovery pricing
  • France and Italy tackle Mediterranean oil slick
  • SK Group cedes controlling stake in SK Shipping to Hahn & Co
  • Insurers creating unmanned vessel products says IUA
  • Belships agrees Lighthouse merger in further dry bulk consolidation
  • ECSA and SEA Europe call out South Korea over "unfair" trade practices
  • Grimaldi: IMO 2020 akin to being sent to the betting shop
  • HMM lays out roadmap for success
  • BoComm Leasing signs for additional Kamsarmaxes at Chengxi
  • Stolt-Nielsen Gas exercises options for LNG carriers at Keppel
  • Nissen Kaiun buys two Maersk box ships in leaseback deal
  • Polaris, SK Shipping, and Korea Line get loans for newbuildings

The Loadstarweb site
OCTOBER 8, 2018
  • Hapag-Lloyd attempts to avoid a 'messy' IMO 2020, unveiling its 'fairer' MRF
  • Silk Way fights back against claims of 'secret illegal flights carrying weapons'
  • Ports need to think outside the box to make their terminals more cost-effective
  • New moves to identify global markets for faked goods being sold online
  • Jota Cargo on the runway for a revival, with BAe 146-300s to 'bridge the gap'
  • The right strategic relationships are key to optimising successful supply chains
  • Digitisation and autonomous driving to halve logistics costs by 2030
  • Virgin Atlantic Cargo appoints new head of digital and distribution

Marine Logweb site
OCTOBER 8, 2018
  • Wärtsilä to equip U.K.'s largest marine simulation training center
  • How Hapag-Lloyd will handle $1 billion in added low sulfur fuel costs
  • Spurned, BW LPG sends Dorian LPG "Dear John" letter
  • Silversea Cruises to build three new cruise ships at European shipyards

Lloyd's Listweb site
OCTOBER 8, 2018
  • Hurricane heads for Florida's west coast
    Rough surf, gusty winds and heavy rain expected along the US Gulf coast from Tuesday
  • Older, smaller chemical tankers face premature scrap
    The impending arrival of the global sulphur cap in 2020 could force the hand of some shipowners to scrap vessels...
  • Congestion in Lagos adding costs and delays
    The French line is implementing an emergency congestion surcharge on Lagos import cargo of $400 per 20 ft dry and...
  • North hires McLoughlin from Marsh
    New man set to work across mutual's regional teams in first instance, while Eccleston switches to Greece and Hustler heads...
  • Global box growth comes to a standstill
    Despite August's disappointing numbers, year-to-date volume growth on the world's container trades still stood at 3.5% come the end of...
  • BW LPG withdraws offer for Dorian
    Update: Dorian LPG responds to BW LPG saying it had "extensively engaged" with the company but that its proposal did...
  • Navios tanker duo merger gets green light
    Navios Midstream unit holders to take Navios Acquisition stock at a 9.2% premium based on last week's prices, say companies
  • Rising fuel costs set to push up container freight rates
    Shippers are warned that freight rates could increase by 13%-20% in 2019 as carriers seek to recoup bunker fuel costs
  • Who are the leading global maritime influencers?
    The Lloyd's List Top 100 most influential people in shipping is the world's first and only independent annual ranking of...
  • Putting people first in a digital world
    The key to shipmanagement is not size, it's service
  • ICTSI granted approval for Manila expansion
    ICTSI has purchased 16 rubber-tyred gantry cranes and two ship-to-shore cranes to support its Manila expansion project
  • Hapag-Lloyd spells out low-sulphur charging mechanism
    German line will also conduct small-scale trials of LNG and scrubbers as it seeks to meet IMO 2020 sulphur limits
  • Hunter Maritime plans merger with NCF Wealth
    Hunter Maritime Acquisition will buy almost $150m worth of equity in its own company to ensure the merger, expected to...
  • Vessel collision leads to fuel spill in Mediterranean
    There have been no reported injuries or deaths from the collision of a 5,018 teu containership and 5, 250 dwt...
  • Daily Briefing
    Grimaldi eyes next generation of ship orders | Blockchain could be a boon for bunker industry | Court of Appeal...
  • Keppel obtains two additional LNG carrier orders from Stolt-Nielsen Gas
    The two LNG carriers will each have a capacity of 7,500cbm and will be equipped with engines that can run...
  • International Maritime Bureau founder Eric Ellen dies at 88
    Eric Ellen recognised the need for a co-ordinated global effort in order to tackle crimes against shipping

The Journal of Commerceweb site
OCTOBER 8, 2018
  • ILA raises automation concerns anew with conference boycott
  • Transplace acquisition of Yusen extends its US intermodal reach
  • Q&A: Collaboration, consensus key to supply chain transformation
  • Transshipment at Indian ports accelerates
  • APL expands guaranteed trans-Pac services amid peak season
  • Analysis: Deficit rating is a 'habit' US LTL carriers should break

TradeWindsweb site
OCTOBER 8, 2018
  • Pyxis Tankers given Nasdaq notice
    New York exchange tells Greek tanker owner to get its shares up to $1.
  • Hahn & Co confirms SK Shipping takeover
    Private equity firm has secured a majority stake in major South Korean shipowner.
  • Strong market 'rebooting' Golar LNG carrier spin-off
    Plans for separate listing moving back into view as market fizzes, Wells Fargo believes.
  • Yemen claims Houthis detain 10 ships
    Tankers and cargo vessels among those held by rebels in Hodeidah, Saudi TV reports.
  • Evergreen says CMA CGM takeover talk just "rumours"
    Taiwanese line denies report of impending deal with French rival.
  • Ernst Russ expands property fund interests
    German shipowner takes over Engel & Volkers Capital funds.
  • Hapag-Lloyd reveals its 2020 fuel recovery hand
    German line explains formula for recouping $1bn of low-sulphur costs.
  • Resolve Marine wins tender for Raysut II wreck removal
    US salvage company is preferred bidder to retrieve bulker grounded off Oman
  • Frangou merging VLCC vehicle into Navios Acquisition
    Greek group calling time on tanker MLP four years after spin-off.
  • Global Maritime lands $9.5m Equinor contract
    Contractor to use Island Offshore newbuilding for field operations until 2020.
  • BoCom FL's Chengxi order grows to 10 kamsarmaxes
    Chinese lessor said to have contracted quartet at state-owned yard several months ago
  • Silversea teams with Royal Caribbean for new orders
    US owners see first fruits of buy-out with contracts for three cruiseships.
  • Collision sinks Chinese cargo vessel
    All 11 crew rescued after incident involving trawler off Zhoushan.
  • Shipping industry donates more than $500,000 to Mercy Ships Cargo Day
    Charterers, brokers, traders and owners have turned the spotlight on the caring side of shipping by raising more than $500,000 so far for this year's Mercy Ships Cargo Day. That total is set to rise over the next few weeks as more companies get involved and the amount of money from contributed brokerage commissions becomes clear. The money raised to help fund the world's largest civilian hospita
  • Tug of war as Harley Marine and Macquarie trade lawsuits
    Seattle tug and barge owner swaps accusations with giant bank in court battle over future of company
  • BW LPG drops $1.1bn pursuit of Dorian LPG
    Oslo-listed owner ends hostile takeover attempt which would have combined the world's two largest VLGC owners.
  • IMO 2020 to speed chemical tanker scrapping
    Eastport report says up to six years could be knocked off trading life after sulphur cap comes in.
  • Iranian switch powers surge in VLCC rates
    Navios ship latest to catch the upward curve as VLCC market "turns on a dime".
  • Dof PSV veteran wins more time in Brazil
    Ship built in 1983 will work for Petrobras until at least next June.
  • PIL and IBM team up on blockchain
    Singapore owner trials solution for electronic bills of lading.
  • Navigator eyes bonds to fund ethylene JV
    US-listed LPGC owner looks to Oslo for export terminal funds.
  • Four dead in ship-cleaning accident
    Oman authorities say Asian workers unable to be saved.
  • Tintrade fixes Palmali tanker for two years
    European trader emerges as charterer behind arrested ship's release in Denmark.
  • Greek owners busy amid global slip in S&P activity this year
    Clarksons says 2018 has seen an overall drop in capacity changing hands from the record set in 2017.
  • Transpetrol and Petredec take VLGC cover in rising market
    Time charters come as owners note positive momentum in the sector.
  • Sveaas' Viking Supply fined for late report
    Swedish OSV owner missed deadline for results while it was restructuring.
  • Fuel leak under control after boxship hit by ro-pax
    No injuries reported following collision that opened hull of CSL Virginia 30km off Corsica.
  • Iran reveals it is building aframax trio
    Order is part of state plan to construct 100 vessels at state-owned yards.
  • US may grant waivers on Iran crude sanctions
    India has nothing to gain and a lot to lose from implementing US actions against Iran, says Banchero Costa.
  • Serge Corbel switches from APL to CEVA Logistics
    CMA CGM veteran to take the financial reigns at firm French liner giant bought into earlier this year.
  • Keppel confirms two more LNG carriers for Stolt-Nielsen Gas
    However, Singapore yard group confirms that earlier option was allowed to lapse.
  • Cosco Shipping Holdings downgraded over trade fears
    Hong Kong-listed liner giant to suffer double whammy of tariffs and high bunker prices, says analyst.
  • Hunter Maritime plots merger with Chinese fintech company
    Saverys family-backed Hunter Maritime Acquisition announces proposed deal with NCF Wealth Holdings in a $2bn all-stock transaction.

American Shipperweb site
OCTOBER 8, 2018
  • Transplace acquires Yusen Logistics' intermodal and freight brokerage
  • Hapag-Lloyd outlines new bunker surcharge formula
  • Commentary: Don't use drayage carriers on labor website
  • JPMorgan Chase fined for sanctions violations
  • Number of U.S. exporters down in 2017
  • ITC investigating U.S. manufacturing competitiveness
  • Executive Moves: Nautilus International, Virgin Atlantic

The Bunker Bulletinweb site
OCTOBER 8, 2018
  • Fire reported at Canada's Saint John refinery; owner confirms 'major incident'
    Irving Oil reported a "major incident" at its 300,000 b/d Saint John, New Brunswick, refinery Monday, following reports of a fire and explosion.
  • ExxonMobil, BP evacuate crews from Gulf of Mexico platforms in advance of Hurricane Michael
    BP and ExxonMobil are evacuating personnel from key Gulf of Mexico producing platforms that may be at risk due to Hurricane Michael, the companies said Monday.
  • Product futures rally short-lived as market weighs impact of refinery explosion
    An explosion at Irving Oil's Saint John refinery in New Brunswick failed to buoy markets, and last week's price correction extended into midmorning trading on Monday.
  • Iran's oil minister reiterates Saudi Arabia will not be able to fill looming oil supply gap
    Iranian oil minister Bijan Zanganeh on Monday dismissed claims by Saudi Crown Prince Mohammed bin Salman that Saudi Arabia was prepared to make up for any oil market shortfall caused by US sanctions on geopolitical rival Iran.
  • French industrial action Tue likely to affect ports: sources
  • REFINERY NEWS: Russia Omsk starts installing coker upgrade equipment
  • Asian middle distillates gaining strength in October as fundamentals firm
    In the paper market, the backwardation in the front month November/December timespread narrowed over the week.
  • More needs to be done for long term LNG bunkering: SIBCON
    Price uncertainty also remains another concern to LNG bunkering adoption.
  • Malaysia's Hengyuan Refining Co. offers naphtha after almost one year
    The deal was done at a discount of around $15/mt to the Mean of Platts Japan naphtha assessments, on an FOB basis.

›››File
FROM THE HOME PAGE
New historical record of monthly container traffic in the port of Long Beach
Long Beach / Los Angeles
In October, strong growth in Los Angeles climbing activity.
ZIM records excellent quarterly economic performance driven by noli uptick and activity with Latin America
ZIM records excellent quarterly economic performance driven by noli uptick and activity with Latin America
Haifa
The fleet transported a record number of containers
In the third quarter, the Viking cruise group's revenues grew by 11.4% percent.
Los Angeles
Increase of 14.3% of turnover generated by ocean cruises
Signed the final agreement on the contract of port workers
Rome
Italian Antitrust initiates an investigation into SAS (MSC group), Moby and Large Navi Fast
Rome
According to the AGCM, competition restrictions may have occurred as a result of the 49% acquisition of Moby's capital by SAS.
T&E highlights the need to also count the well-to-tank emissions for LNG used by ships
T&E highlights the need to also count the well-to-tank emissions for LNG used by ships
Brussels
Total greenhouse gases produced would be more than 30% higher than those considered by the FuelEU Maritime Regulation
DFDS and Ekol are rethinking and agreeing on the sale of the Turkish company's international network to the Danish group
Copenhagen / Istanbul
Revised the terms of the deal expired on the first November
Slight downturn in freight traffic in the port of Hamburg in the third quarter
Hamburg
Stable container traffic
The Companies inform
Accelleron initiates partnership with Geislinger to expand service business in the Mediterranean region
Cargotec agrees to the sale of MacGregor to funds managed by Triton
Helsinki
Sale of the value of 480 million that is expected to be completed by the first half of 2025
In the July-September quarter freight traffic in the port of Koper increased by 8.3%
Lubiana
In the first nine months of 2024, the increase was 3.2% percent.
Ok of Ukraine's antitrust enforcement at the entrance of MSC in the capital of HHLA terminalist company
Kiev
The company operates the CTO terminal of the port of Odessa
Inaugurated the new Peruvian port of Chancay operated by China's COSCO Shipping Ports
Lima
Has 1,500 linear metres of docks
More than doubling the value of new orders acquired by Fincantieri in the first nine months of 2024
Trieste
The sunshine committed for shipbuilding grew by +154,3 percent.
Established the Ship Recycling Alliance to speed up the recycling of safe and environmentally friendly ships
Copenhagen
The initiative in view of the entry into force on June 26 of the Hong Kong International Convention
Kuehne + Nagel will acquire 51% percent of the capital of American IMC Logistics
Schindellegi / Collierville
US company mainly operates drayage services
In the third quarter of this year, Hapag-Lloyd's revenues grew by 28.2%
In the third quarter of this year, Hapag-Lloyd's revenues grew by 28.2%
Hamburg
Increase of 3.8% of containers carried by the fleet. Average value of nils up 22.9%
In the third quarter freight traffic in the port of Genoa decreased by -4.9% percent while in Savona-I went up by 15.7% percent.
Genoa
Decided increase in transshipment containers determined by the Red Sea crisis. Down the cruises
In the third quarter, HMM revenues increased by 67% thanks to the 83% growth in the container segment
In the third quarter, HMM revenues increased by 67% thanks to the 83% growth in the container segment
Seoul
+116% increase in the value of the average nole per container transported
Evergreen's quarterly financial performance hike
Evergreen's quarterly financial performance hike
Taipei
Taiwanese company invests 186.8 million to buy new shipping containers
In the third quarter, container traffic at the Eurokai port terminals grew by 9.9% percent.
In the third quarter, container traffic at the Eurokai port terminals grew by 9.9% percent.
Hamburg
In Germany (Eurogate) the increase was 13.6% percent. In Italy (Contship Italy) of 6.8%). Slowing growth at Tanger Med. Damietta terminal will become operational in April
Danaos reports a new drop in quarterly revenue generated by fleet of container carriers
Athens
Coustas : With the Trump administration, which has promised new duties, a future reduction in container traffic is possible
In the first ten months of 2024, the traffic of goods in Russian ports decreased by -3.2%
St. Petersburg
The dry goods amounted to 370.8 million tonnes (-3.5%), those liquids at 372.2 million tonnes (-2.9%)
Alpe Adria activates new rail service between the port of Trieste and the Malpensa Intermodal terminal in Sacconago
Trieste
Euroseas order in China the construction of two 4,300-teu feeder container
Athens
Quarterly revenue from rentals inj growth of 5.8%
The Analysis of the Fedespea Studies Centre on economic and operational performance of Italian container terminals
Milan
GNV strengthens its business department with two nominees
Genoa
New business manager and new general manager of the company in Spain
On the former Carbonyl of the Port of Genoa, the yards of the foranea dam and the subport tunnel
Genoa
The AdSP Management Committee deliberated it yesterday.
In Genoa, the Graduation Day of the Italian Academy of Mercantile
Genoa
Delivered 50 diplomas at the end of the biennial and three-year formative course
On November 27 in Rome, the public assembly of UNIPORT will be held
Rome
Meeting on the theme "Italian Ports, a network of businesses in the service of the country and of Europe"
Roberto Nappi, founder and director for 40 years of "Corriere Marittimo", has died.
Genoa
His career had begun at the writing of the Telegraph in 1958
New EU sanctions to prohibit the use of ships and ports for the transportation of drones and missiles produced by Iran
Brussels
Masucci confirmed president of Italian Propeller Clubs
Genoa
New mandate for the three years 2024-2027
The seamen of the Galaxy Leader have been hostage for a year
London / Hong Kong
Platten (ICS) : It is unacceptable ; humanity prevails and they are immediately released
MSC will implement a markup of noli for maritime transport from the Far East to the Mediterranean
Geneva
Increases of 25% and 18% for containers from 20 'and 40' direct in the western Mediterranean and Adriatic
Completed the dual-fuel retrofit of a large container ship in Maersk
Copenhagen
He will be able to navigate methanol. Increased the hold capacity
Environmental authorization of the Region to dredging the quays from 19 to 26 of the port of Ancona
Ancona
The intervention will cost a total of 16.5 million euros.
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Conference of the CNEL on the Sustainability of Maritime Transport
Rome
It will be held on November 27 in Rome
Intermodal shipments between the port of Trieste and Slovakia are growing
Trieste
In the third quarter the container traffic handled by HHLA dropped by -2%
Hamburg
In Trieste the volumes processed by PLT Italy in the first nine months of 2024 have decreased
In October container traffic in the port of Hong Kong grew by 0.7%
Hong Kong
In the first ten months of 2024, a decline of -5.2%
In the July-September quarter freight traffic in the port of Civitavecchia fell by -11.8%
Cyvitavecchia
The Cruserists increased by 2.7%
Last month the port of Singapore handled 3.5 million containers (+ 8.1%)
Singapore
In the first ten months of 2024, growth was 6.2% percent.
MSC has completed the acquisition of the majority of logistics company MVN
Geneva / Milan
The Milanese business plans to close 2024 percent with a turnover of 100 million euros.
Conference of Assiterminal entitled "Ports in Connection-ESG, IA, CSRD"
Genoa
It will be held on December 5 in Rome
In the summer quarter passenger traffic in the cruise terminals of Global Ports Holding grew by 27.5%
Istanbul
Revenue up 23%
SDC freight forwarder introduced artificial intelligence in the management of customs practices
Venice
Annually the practices followed exceed 15mila units
The sale of the shipping company Santandrea from the Pacorini to Aprile
Trieste
The company was founded in 1989 in Trieste
Port of Gioia Tauro, the memorandum of understanding for security in working environments and port operations
Joy Tauro
Will have a duration of three years
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Conference of the CNEL on the Sustainability of Maritime Transport
Rome
It will be held on November 27 in Rome
Conference of Assiterminal entitled "Ports in Connection-ESG, IA, CSRD"
Genoa
It will be held on December 5 in Rome
››› Meetings File
PRESS REVIEW
Sudan govt scraps $6bn Red Sea port deal with UAE
(The North Africa Post)
Argentina enfrenta tarifas portuarias hasta 500% más altas que otros países de la región
(Pescare)
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Nicola Zaccheo
Roma, 18 settembre 2024
››› File
Paola Piraccini appointed as Legal Technical Collaborator of Spininvest
Genoa
Joined in magistrate in 1981, he is a retired cassation adviser
The meeting in Rome between the representatives of Italian ports and ports in Florida
Rome
Expect a comparison to find common themes on which to set up a benchmarking task
This year the Cruserists in the port of Ancona have grown by 18.9%
Ancona
25.1% increase in transits and drop by -5.1% of landings and embarkation
Changed Risso constitutes a joint venture in Cagliari
Cagliari / Genoa
Partnership at 50% with Fausto Saba and Riccardo Vargiu
Ok to the 2025 forecast budget of the AdSP of the Tyrrhenian Sea Centre North
Cyvitavecchia
It presents a surplus of more than 2.5 million euros
In Palermo, the first sheet of the new ferry for the Sicilian region was cut off.
Trieste / Palermo
The delivery of the ship is scheduled for 2026
Global Ship Lease's quarterly revenue records show the first decrease since the end of 2018
Athens
The company believes that its container fleet has very good future prospects of employment
DP World signs an agreement to buy Australian Silk Logistics
Dubai / Melbourne
The expected value of the transaction is approximately 115 million
A worker has passed away in the port of Crotone
Joy Tauro
He would suddenly go down to the ground while talking to some colleagues
Torbianelli : well the ok of CIPESS in financing the future Molo VIII of the port of Trieste
Trieste
Of the estimated 315 million euros, 206.9 are expected by the state
The French state has acquired 80% percent of the capital of Alcatel Submarine Networks
Calais
The company has a fleet of seven posacavi vessels
Eurizon Capital (Intesa Sanpaolo Group) has acquired a majority stake in Germany-based
Milan
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