German shipping group Hamburg Süd announced Monday it is selling its bulk shipping business to The China Navigation Company, a subsidiary of the Swire Group, as it focusses on its liner business. The agreement includes Hamburg Süd subsidiaries Rudolf A. Oetker (RAO), Furness Withy Chartering and the bulk activities in Aliança Navegação e Logística (Aliabulk). The bulk … [Read more...]
Maersk Line to Reflag Hamburg Süd Containerships Away from German Flag
By Mike Wackett (The Loadstar) - Maersk is to reflag its recently acquired Hamburg Süd containerships away from the German registry, despite its promise of a “light-touch” acquisition. Maersk Line confirmed last week its intention to reflag a number of Hamburg Süd vessels, including 10,600 teu flagships Cap San Juan, Cap San Lazaro and Cap San Vincent, to either Danish … [Read more...]
Maersk Line Completes Hamburg Süd Acquisition
Danish shipping giant Maersk says it has completed its acquisition of German rival Hamburg Süd in a deal valued at approximately $4 billion. The close of the deal comes exactly one year after Maersk Line announced its intention to acquire the smaller shipping line from Oetker Group. The acquisition triggered a regulatory approval process spanning 23 jurisdictions, which … [Read more...]
Maersk Reveals Changes to Hamburg Süd Executive Board Post Takeover
By Mike Wackett (The Loadstar) - Maersk Line is wasting no time in putting its blue stamp on the executive board of soon-to-be acquired Hamburg Süd, but says it “intends to maintain the business model” of the north-south niche carrier. After the completion of the transaction – still subject to some regulatory approvals but anticipated for Q4 – Maersk said not only did it … [Read more...]
Maersk Line to Pay $4 Billion for Hamburg Süd
COPENHAGEN, April 28 (Reuters) - The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million, Maersk Line said in a statement fleshing out … [Read more...]