Hapag-Lloyd has delayed the completion of its takeover of UASC due to paperwork technicalities. Prior concerns about the financing of the deal appear to have been dealt with. Industry revenues likely increased 2% in the fourth quarter of 2016 vs. the third, while Hapag-Lloyd itself beat analyst expectations by 13%. Regulatory approvals appear to have gone smoothly. The formation of THE Alliance may have been a complicating factor given the deal’s justification was partly related to capacity sharing.