facebook_pixel
Ocean Carriers

Maersk Line and Hamburg Süd Sale and Purchase Agreement Approved

Maersk Line and Hamburg Süd Sale and Purchase Agreement Approved
Danny Gill

Maersk Line’s acquisition of Hamburg Süd for nearly USD $4 billion was recently approved by the boards of Maersk Line and the Oetker Group. The acquisition still remains subject to regulatory approvals.

“Today, we have taken a decisive step towards the shared future of Maersk Line and Hamburg Süd. Our due diligence confirmed that Hamburg Süd is a well-run company with strong and highly respected brands. We have confirmed the anticipated synergies and we are convinced that our plan to maximize customer retention is the right path forward. I have no doubt that together we can develop new competitive products to the benefit of our customers and exploit operational synergies. The acquisition is cementing our position as the largest and leading carrier in container shipping, and it will provide great opportunities for the employees of both companies,” says Søren Skou, CEO of Maersk Line and A.P. Moller – Maersk.

Maersk Line says the acquisition is in line with their growth strategy. Combined, the two companies will be able to realize operational synergies in the region of USD $350-$400 million annually over the first couple of years following completion of the transaction. Hamburg Süd will maintain its own structure and is expected to deliver a high customer retention adding to Maersk Line’s growth agenda. Maersk Line has also committed to maintaining the presence of Hamburg Süd in Hamburg, Germany, and has agreed to lease the local head office, initially for a period of five years.

“Hamburg Süd has a strong brand and an attractive customer value proposition. We believe these elements are key for our acquisition to become a success. Therefore, Hamburg Süd will remain under own management and with full brand responsibility,” says Mr. Skou.

“We see the acquisition of Hamburg Süd by Maersk Line as a natural development and we are convinced that Hamburg Süd will thrive under continued own management and maintain not only the services offered to its customers, but also provide its employees a fantastic opportunity to continue shaping the future of the industry as a leading service provider,” says Dr. Ottmar Gast, Chairman of the Hamburg Süd Executive Board.

With the acquisition, Maersk Line and Hamburg Süd will have a total container capacity of around 3.9 million TEUs and an 18.7% global capacity share, with a combined fleet of 743 container vessels. The process of obtaining regulatory approvals is on schedule, and Maersk Line expects to close the transaction by the end of 2017. Until then, Hamburg Süd and Maersk Line will continue business as usual as separate and independent companies.

For breaking news sent to your LINE application, click on the button below to add us on LINE at @logisticsmanager (also include the ‘@’ symbol)

เพิ่มเพื่อน

Ocean Carriers
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ocean Carriers

WWL's Single Vessel Delivers Railcar to Four Destinations

WWL’s Single Vessel Delivers Railcars to Four Destinations

Danny GillNovember 17, 2017
CMA CGM to Power Future 22,000 TEU Vessels with LNG

CMA CGM to Power Future 22,000 TEU Vessels with LNG

Danny GillNovember 8, 2017
WWL Adds Amsterdam and Livorno to Asia-Europe Route

WWL Adds Amsterdam and Livorno to Asia-Europe Route

Danny GillNovember 4, 2017
APL Strengthens Intra-Asia Footprint with New Korea China Straits Service

APL Strengthens Intra-Asia Footprint with New Korea China Straits Service

Danny GillOctober 30, 2017

MOL Holds Tabletop Drill Focused on Car Carrier Safety

Danny GillOctober 24, 2017

APL Celebrates 100 Years of Shipping in the Philippines

Logistics ManagerOctober 12, 2017
OCEAN ALLIANCE announces Day One Network

CMA CGM Acquires SOFRANA Unilines

Danny GillOctober 10, 2017

MCC Welcomes Remote Container Management

Danny GillOctober 2, 2017
Representatives from CMA CGM, Hudong-Zhonghua Shipbuilding (Group), Shanghai Waigaoqiao Shipbuilding and CSTC signing contracts.

CMA CGM Chooses Chinese Shipyard CSSC to Build Nine 22,000 TEU Vessels

Logistics ManagerSeptember 28, 2017