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21 November 2024 - Year XXVIII
Independent journal on economy and transport policy
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BRIEFS
January 18, 2018
Sched Netweb site
  • Cosco Shipping Ports 2017 container volumes surge 13pc to 87m TEU
  • PSA's box traffic globally rises 9.8 pc in 2017 to reach 74.2 million TEU
  • Haropa's record-breaking year with box traffic up 15pc to 3m TEU in 2017
  • Greek shipping company to be prosecuted in Canada for massive fuel spill
  • Virginia sees strong box throughput growth in 2017
  • APMT attracts new service at JNPT but faces challenge when PSA terminal opens
  • Westports not 'optimistic' about box volumes in 2018 after 2017's decline
  • Singapore to develop engineering talent for the maritime industry
  • China-US air cargo rate could hit US$17 per kg over next few weeks
  • Middle Eastern airlines achieve lowest growth in cargo volumes globally in Nov
  • Hong Kong Airlines launches second recruitment drive for new cadet pilots

Exim Indiaweb site
JANUARY 17, 2018
  • Hamburg Süd honoured twice for sustainability
  • Maersk & IBM to form blockchain JV to improve global trade & digitise supply chains
  • RCL offers additional sailing between China & Chennai
  • Capt. Manoj Joshi takes charge as Deputy Conservator, Mormugao Port Trust
  • KICT handles first domestic container rake of Apollo India
  • Mahindra Logistics endeavours to train 10,000 drivers across India under Pradhan Mantri Kaushal Vikas Yojana
  • Leading lines to participate in CTL & BHP 2018

International Transport Journalweb site
  • Leopards transported by Tigers
  • It's the Danes again at DSV Road Germany
  • Leimgruber surrenders to Planzer
  • Collaboration between all parties on single platform
  • Switzerland: more innovation in railfreight sector
  • K Line renames ship management companies
  • Miami air cargo stakeholders discuss e-commerce strategy
  • Honold expanding in northern Germany
  • Antwerp holds the line
  • Long Island: rail track doubling at top speed
  • From Polzug to Duisport Agency
  • First C-130J Super Hercules for France
  • Loxx introduces new linehaul services
  • Kwong for Whitehead at Hactl
  • Over 5 million t of cargo and mail in Hong Kong
  • PSA International with growth in 2017
  • Sweden: greater volumes with fewer trains
  • Tapa certification for P&O Ferrymasters

IHS Maritimeweb site
JANUARY 17, 2018
  • Rolls-Royce mulls sale of commercial marine operations
  • Norwegian fund slams owners for beaching
  • DS Norden raises 2017 forecast as dry bulk and product tanker segments outperform
  • More South Korean shipowners exit market
  • Sanchi spill spreading further in East China Sea
  • PSA taps solar energy at Pasir Panjang Terminal
  • FSL Trust sells second vessel to repay debts
  • Ship attacks in Asian waters up in 2017 as significant incidents fall
  • HHI, SHI chiefs present upbeat picture as orders pick up
  • Tide for ship scrapping turns as steel prices fall

The Loadstarweb site
JANUARY 17, 2018
  • The end of 'business as usual' for logistics as digitisation and the disruptors arrive
  • Maersk still weighs in as the world's largest container shipping line
  • PSA reaps reward of partnerships with container lines at Singapore port
  • Analysis: the container shipping industry and its major players in 2018
  • Success on a plate for Amazon Fresh as growth in grocery sales soars
  • 1,300 new jobs promised in plan to transform old coal pit into logistics hub
  • Antwerp achieves fifth consecutive record year for container volumes
  • Samsung shipbuilding will shift to operating profit in 2019, says CEO
  • Mark Whitehead to retire from HACTL as Wilson Kwong steps up

Marine Logweb site
JANUARY 17, 2018
  • MAN: Part-Load Optimization pays off for small bore four-strokes
  • Methanol fuel cells power German excursion vessel
  • Rolls-Royce may sell off commercial marine business
  • Navy officers face charges following destroyer collisions

Lloyd's Listweb site
JANUARY 17, 2018
  • Refinery maintenance in Europe and Middle East hurts product tanker rates
    But negative impact is partially offset with consuming nations seeking barrels elsewhere
  • Rolls-Royce considers sale of marine business
    Company review will include moving naval marine and nuclear submarine operations within defence business and to consider whether commercial marine...
  • New EU waste strategy targets port reception rules
    New proposed anti-waste rules oblige all owners to contribute
  • Gothenburg posts record fall in box volumes
    Labour dispute continues to haunt Scandinavia's largest port, as 2017 container throughput declines 19% and ACL halts calls
  • Daily Briefing
    Maersk teaming up with IBM to develop blockchain-based products sees the software platform poised to hit the mainstream in the...
  • Box shipping: The big get bigger
    Rise in containership fleet capacity favours the large as leading lines tighten grip
  • WEF says cyber security tops global risks concerns
    Environmental, economic, and geopolitical risk are all major concerns for business, according to the World Economic Forum; however, cyber security...
  • Union Maritime says missing tanker targeted by pirates
    Twenty-two seafarers on board vessel that has been under attack for a week
  • Maritime services can weather Brexit storm
    UK-based maritime professional services will continue to shape the international marketplace no matter what Brexit deal is negotiated
  • Precious says poor communication behind Norway fund decision
    Eighty per cent of all ships are recycled on the Indian subcontinent, what we had done was no different, argues...
  • Lloyd's List summer internship returns for second year
    Applicants sought from final-year graduates across the UK and Europe
  • Sunken Sanchi could be leaking fuel oil
    Chinese maritime authorities sending underwater drones to survey the sunken vessel
  • FSL Trust cuts debt with vessel sale
    Net proceeds from disposal to be used to pay off ship's outstanding loan
  • Cheniere signs LNG supply pact with Trafigura
    Development will provide a lift to the LNG shipping market and boost spot trades
  • DSME in talks over Mangalia yard stake sale to Romania
    Move is a turnaround from original deal with Damen Shipyards
  • SHI chief cautiously optimistic about 2018 outlook
    Nam Joon-Woo says shipbuilding market bottomed out in 2016, with conditions to improve slightly in 2018
  • Teekay Offshore plans unit offering to raise $132m
    Master limited partnership expects the offering to close on January 23 this year
  • Diana Shipping agrees panamax charter deal with Uniper
    Employment expected to bring in $4.6m in gross revenue for minimum charter duration
  • Thomas Miller grows fixed-premium P&I book
    Deal with fellow insurer Navigators targets economies of scale and better customer service

The Journal of Commerceweb site
JANUARY 17, 2018
  • Carriers, terminals: FMC late-fee policy would yield chaos
  • Ruling improves prospects for BNSF's LA-LB railyard
  • CSX: Network trims will improve service
  • European shippers get Brexit jitters
  • SM Line sets May for new China-US West Coast service
  • India boosts Sri Lanka port infrastructure aid
  • China-Europe rail shippers move from ad hoc to contracts

TradeWindsweb site
JANUARY 17, 2018
  • GLOP raises $111m in public offering
    The New York-listed company sells 4.6 million shares for fleet expansion.
  • Maritime lawyer Melvin Tublin dies
    Former merchant mariner passes away at age 90.
  • Seacor in offshore vessel deal with Cosco
    New York-listed offshore vessel owner will manage eight new vessels as part of new venture.
  • Nigerian militants post threat to FPSOs
    Main militant group in the oil-rich nation says another wave of actions will be targeted at deep sea operations.
  • Mild winter puts damper on aframax market
    Freight rates for smaller tankers weak relative to year-ago levels due to vessel supply, lack of seasonal factors
  • CSL Group plotting purchase of handysize bulker
    Louis Martel-led shipowner is working on the addition of a Japanese-owned vessel.
  • Trucks destroyed in Stena ro-pax fire
    Crew extinguishes blaze on Stena Britannica at Harwich, UK.
  • Borealis Maritime back in buying mode with boxship double
    UK-based owner has added a pair of ships to its core container fleet.
  • Rolls-Royce could sell marine business
    Strategic review to be carried out due to weak offshore market.
  • Oldendorff steps in as capesize rates continue to retreat
    German firm takes cape on short period deal as physical and paper markets suffer.
  • Tanker taken by pirates, owner confirms
    Union Maritime working to resolve situation involving product carrier off West Africa.
  • OCIMF picks ex-Exxon man for director role
    New director will step in to role held by BP's head of safety and operational risk for shipping.
  • Oceanbulk and Augustea eye Giuseppe Bottiglieri fleet
    Petros Pappas and Raffaele Zagari looking to move on Italian owner's assets.
  • Andromeda crew remanded in custody
    Eight seafarers in court after Greece seized explosives on cargoship.
  • AET newbuilding nets long-term contract with Repsol
    Charter comes to light with vessel set to join the global fleet in coming weeks.
  • Antwerp boasts fifth straight record year
    Key Belgian port boosted by higher oil and boxship volumes.
  • Davos: Cyber and climate change now major business risks
    Poll of 1,000 World Economic Forum members finds rising new concern amid confidence in stronger global economic outlook
  • Nisshin linked to 10 more bulkers in China
    Japanese owner said to have signed up for ultramaxes at Nantong Xiangyu.
  • Morgan Stanley takes leading position in NAT
    Bank now holds stocks worth over $18m in Nordic American Tankers.
  • Socar denies confiscating Palmali tankers
    Azeri oil company also says it has not banned the Turkish owner's vessels from its ports.
  • US navy officers face charges over collisions
    Commanders of warships involved in fatal clashes with cargoships to be court-martialled.
  • JP Morgan charts dry cargo market peak in 12 to 18 months
    Expectation comes as analyst Noah Parquette cuts his capesize rate forecasts for 2020 and 2021.
  • Cargoship refloated off Sweden
    Worden-managed Halland had grounded off Monsteras with pulp cargo.
  • Looking for a handy asset play project?
    Cross-sector analysis by VesselsValue says smaller bulkers could be the way to go.
  • Quadrant fixes new Maersk anchor-handlers
    Two Starfish-class vessels will start work off Western Australia in March.
  • Yangzijiang sets up ship leasing unit
    Chinese yard aiming to capitalise on consolidation trend.
  • Oriental Energy orders VLGC newbuildings
    Chinese group picks Jiangnan Shipyard for new gas carriers.
  • Chinese yard signs contracts for ferries
    Guangdong Jianglong wins deal for two passenger vessels from compatriot.
  • State gives $117m in guarantees for Uljanik yard
    Restructuring finance for Croatian shipbuilder backed by government.
  • Third boxship jumbo job for CSIC
    The northern group of Chinese shipyards says it has now scored jumboisation contracts from all three of Europe's top liner companies.
  • Precious defends demo policy following fund ban
    Thai company says it has done nothing worse than most owners, including those in Scandinavia.
  • Navios Containership confirms latest purchase
    Growing boxship owner expands fleet to 21 vessels of 88,820-teu with latest acquisition.
  • Norway's oil fund excludes shipowners over beaching
    World's largest sovereign wealth fund to steer clear of Evergreen, Precious, KLC and Thoresen.
  • CMA CGM extends Tianjin charter, but cuts rate
    GSL sees rate shrink on ex-OOCL boxship as French liner giant takes it for another eight months.

American Shipperweb site
JANUARY 17, 2018
  • SCPA's container volumes rise 9% in 2017
    South Carolina Ports Authority (SCPA) handled 2.2 million TEUs in 2017, up 9 percent from record 2016 levels, the port authority reported W...
  • Canada lifts temporary speed restriction in Gulf of St. Lawrence
    The temporary, mandatory slowdown for vessels in the western Gulf of St. Lawrence was lifted last Thursday. Transport Canada had implement...
  • Old Dominion to use TCG for container drayage operation
    Thomasville, N.C.-based Old Dominion Freight Line will implement software provider TCG's Truckload Cost Information System (TL/CIS) for its...
  • KAG implements drivers pay increases
    One of North America's largest bulk transportation and logistics providers said Tuesday that an "overwhelming majority" of its customers is...
  • Samskip, DC ink Brazilian logistics agreement
    Samskip Logistics and freight forwarding company DC Logistics Brasil have inked an agreement to expand Brazilian offerings in sea freight l...
  • OOCL christens last G-Class containership
    Orient Overseas Container Line (OOCL) christened the sixth and last in its latest series of 21,413 TEU containerships on Wednesday. Dubbed...
  • Port of LA responds to court's ruling on SCIG project
    The Port of Los Angeles says that it's "pleased" with a recent court ruling regarding a planned on-dock railway, because the ruling refutes...
  • House passes miscellaneous tariff bill
    The U.S. House of Representatives passed legislation on Tuesday that promises to eliminate $1.1 billion in import tariffs during the next t...
  • Port of Antwerp's tonnage rises 4.4% in 2017
    The Port of Antwerp handled 223.6 million metric tons of freight in 2017, a 4.4 percent increase and a record freight volume for the fifth ...

The Bunker Bulletinweb site
JANUARY 17, 2018
  • TANKERS: Severe US Gulf Coast weather delays tonnage, pressures freight
    The suspension of pilot services on US Gulf Coast maritime waterways Tuesday due to icy conditions, high winds and rough seas, has resulted in loading delays and lackluster trading on the Americas tanker markets.
  • Bullish fever in equities lifts oil futures higher
    NYMEX February crude fell to $63.50/b at one point, but turned into positive territory and settled at $63.97/b, up 24 cents.
  • INTERVIEW: Broker launches credit service to help buyers with higher costs
    Rising fuel bills in 2020 may cause problems for credit availability.
  • Malta, Piraeus bunker premiums to Med HSFO hit six-week highs
    Bunker fuel premiums in the Mediterranean to high sulfur fuel oil rose at the ports of Piraeus, Greece, and Malta on Tuesday due to a bearish fuel oil market.
  • TRADER NOTE: Bunker trader Christoffer Ahlqvist joins ScanOcean AB
    ScanOcean AB has appointed Christoffer Ahlqvist as head of trading, the company said Wednesday.
  • European refiners brace for challenges as margins start to slip
    Refiners on verge of run cuts, Margins fall as fuel oil, naphtha weaken sharply.
  • External: Wired Bunkering
  • External: Global Risk Management
  • South Korea's 2017 crude imports confirm diversification efforts
    Wide EFS, higher Mideast OSP differentials favor US crude intake
  • Singapore cracking margin against Dubai rises 6% on year in 2017
    The cracking margin against Dubai averaged $5.57/b in 2017, compared with an average of $5.24/b in 2016.
  • Oil spill from Iranian tanker Sanchi expands in East China Sea: report
    The tanker carrying around 960,000 barrels of South Pars condensate caught fire on January 6 after a collision with the CF Crystal
  • Republic of Congo seeks imminent OPEC membership
    - Most of the 300,000 b/d output from Congo is exported - Follows OPEC plans by Uganda, South Sudan - Chinese refineries main buyers of oil from Congo

›››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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