Hamburg Süd Signs Purchase Agreement for Chilean Shipping Firm
Hamburg Süd’s acquisition of Chilean container shipper Compañía Chilena de Navegación Interoceánica S.A. (CCNI) is nearly complete today with the signing of the Sale & Purchase Agreement. The company notes that following approval by antitrust authorities, the $160 million deal is scheduled to become effective at the start of Q2 2015 and includes the related general agency functions of Agunsa Agencias Universales S.A, (Agunsa), with headquarters in Valparaiso and Santiago de Chile.
Hamburg Süd says they will operate the CCNI container liner business under the CCNI brand name in the main trades between the West Coast of South America, Asia, Europe and North America respectively.
CCNI will discontinue their container liner services and will only be using the CCNI name for the Car Carrier activities which they will retain. Agunsa will continue representing other shipping lines as agent and will also further develop its port and logistics services business in South America.
CCNI currently operates 5,500 TEU containerships on a weekly service to Chinese ports as well as 1,700 – 3,500 TEU vessels covering the west coast of North and South America. Additionally, CCNI operates thirty-three vessels of between 6,500 – 8,500 nominal TEUs capacity, which connects with South
Korean ports (Busan), China (Shanghai, Ningbo, Yantian and Shekou), Hong Kong, Singapore, Brazil (Rio de Janeiro, Santos, Río Grande and Itajaí), Uruguay (Montevideo) and Argentina (Buenos Aires).
Sign up for our newsletter
Be the First
Join the 62,727 members that receive our newsletter.
Have a news tip? Let us know.