Maersk Line to acquire Hamburg Süd

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Maersk Line to acquire Hamburg Süd

December 19, 2016 - 00:00
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Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line.

Hamburg Süd is the world’s seventh largest container shipping line and a leader in the North–South trades. The company operates 130 container vessels with a container capacity of 625,000 TEU (twenty-foot equivalent). It has 5,960 employees in more than 250 offices across the world and market its services through the Hamburg Süd, CCNI (based in Chile) and Aliança (based in Brazil) brands. In 2015, Hamburg Süd had a turnover of USD 6,726 million of which USD 6,261 million stems from its container line activities.

Hamburg Süd and Aliança will continue as separate brands and continue to serve customers through their local offices.

The acquisition is subject to a satisfactory due diligence, final agreement and subject to regulatory approval in amongst others China, Korea, Australia, Brazil, the United States and the EU. Maersk Line will work closely with the authorities. Maersk Line expects the regulatory process to last until the end of 2017. Until then, Hamburg Süd and Maersk Line will continue business as usual.

With the acquisition, Maersk Line will have container capacity of around 3.8 million TEU (3.1 million TEU) and an 18.6% (15.7%) global capacity share. The combined fleet will consist of 741 container vessels with an average age of 8.7 years (9.2 years).