Maersk Line and Hamburg Süd Enter Slot Purchase Agreement

Shipping containers belonging to Hamburg Sud and Maersk companies are seen stacked at La Guaira port, in La Guaira, Venezuela, January 27, 2016. REUTERS/Marco Bello
Shipping containers belonging to Hamburg Sud and Maersk companies are seen stacked at La Guaira port, in La Guaira, Venezuela, January 27, 2016. REUTERS/Marco Bello

Maersk Line and Hamburg Süd have announced slot purchase agreement for Hamburg Süd’s volumes on the East-West trades to be shipped on vessels in the 2M network, the shipping alliance between Maersk Line and Mediterranean Shipping Line.

The slot purchase agreement is unrelated to Maersk’s planned acquisition of Hamburg Süd, which was announced last December.

In a joint press statement on Monday, Maersk and Hamburg Süd said the agreement follows commercial negotiations in anticipation of the termination of Hamburg Süd’s current slot purchase arrangements on the East-West trades due to upcoming changes in global liner alliances.

“We are pleased with this agreement. Accommodating these additional volumes enables improved utilisation in our fleet and in turn provides opportunities to enhance our customer offering on select trades in our East-West network”, says Søren Toft, Chief Operating Officer, Maersk Line.

The agreement covers the Asia-North Europe, Asia-Mediterranean, Trans Atlantic and Trans Pacific trades.

“Hamburg Süd is very satisfied about the agreement with Maersk. Our customers will benefit from extended port coverage, best transit times, and an increased number of loops in the East–West trades,” explains Frank Smet, Member of the Executive Board of Hamburg Süd.

The agreement is scheduled to begin 1 April and is still subject to maritime filing requirements being satisfied.

Maersk’s takeover of Hamburg Süd is also still subject to final agreement and regulatory approvals. Maersk Line said in December that it expects the regulatory process to last until the end of 2017 and, until then, Hamburg Süd and Maersk Line would continue business as usual.