CCCS seeks public feedback on proposed acquisition of Seaco by Typewriter Ascend

The Competition and Consumer Commission of Singapore (CCCS) has launched a public consultation on the proposed acquisition of Global Sea Containers Limited (Seaco) by Typewriter Ascend Ltd (TAL).

The joint application by TAL and Seaco was accepted by CCCS on 15 July 2025. The Commission is now assessing whether the acquisition would lead to a substantial lessening of competition in Singapore.

Seaco is an international company that leases and sells intermodal containers. These containers are used across multiple industries and Seaco operates globally, including within Singapore’s market.

Typewriter Ascend Ltd is a special purpose vehicle indirectly and solely controlled by investment funds managed or overseen by Stonepeak Partners LP.

Stonepeak, a United States-based investment firm headquartered in New York, focuses on infrastructure and real assets.

Through its subsidiary Textainer Group Holdings Limited, Stonepeak operates in the same market as Seaco—offering leasing and sale services for intermodal containers.

Textainer also has a global footprint and serves customers in Singapore.

According to CCCS, the Parties have overlapping operations in the leasing and sale of various container types. These include dry box containers, refrigerated shipping containers, and dry freight special containers.

However, the Parties have indicated that there are no direct supply relationships between them.

As part of its review process, CCCS is inviting views from the public on whether the Proposed Transaction could adversely impact competition within the Singapore market.

Members of the public can submit their feedback between 16 July and 5.00pm on 30 July 2025.

Submissions may be made via an official online form available at https://go.gov.sg/cccsonlineform, or through email to [email protected].

CCCS has requested that any submission containing confidential information be accompanied by a non-confidential version to facilitate transparent consideration.

Further information regarding the Proposed Transaction and consultation process can be found in the “Public Consultation” section on CCCS’s official website at www.cccs.gov.sg.

This public consultation is part of CCCS’s standard procedures when evaluating mergers or acquisitions that may impact competition in Singapore.

Under Singapore’s Competition Act, CCCS is empowered to assess mergers that may result in a substantial lessening of competition.

While the notification system is voluntary, parties may choose to notify CCCS to obtain a decision on whether a proposed merger is likely to raise competition concerns.

The outcome of the assessment may include clearance, a conditional approval, or the prohibition of the transaction, depending on the findings of CCCS following the consultation.

At this stage, CCCS has not reached any conclusion on whether the Proposed Transaction is anti-competitive.

Instead, the feedback collected will inform its analysis before a formal decision is issued.

Stakeholders, including businesses in the logistics and shipping sectors, are expected to closely monitor the consultation, given the size and significance of Seaco and Textainer in the container leasing industry.

Container leasing plays a key role in global logistics by enabling flexible and scalable shipping options for companies engaged in international trade.

The potential consolidation of two major players could reshape market dynamics, particularly in regions like Singapore that serve as global shipping hubs.

The CCCS has not disclosed a specific timeline for concluding its assessment but typically announces a decision within a few months of completing its consultation.