Swire Group subsidiary, the China Navigation Company (CNCo) and one of the ten largest container shipping brands in the world, Hamburg Süd part of the Maersk Line, recently announced an agreement for CNCo to acquire the bulk shipping business in Hamburg Süd. The acquisition will include Rudolf A. Oetker (RAO), Furness Withy Chartering and the bulk activities in Alianca Navegacão (Aliabulk).
Hamburg Süd CEO, Dr. Arnt Vespermann said, “With this step, Hamburg Süd is focusing as planned on its liner business with its two container shipping brands, Hamburg Süd and Aliança,” he further added, “As part of Maersk, the world’s largest liner shipping company, this clear focus is a logical step. At the same time, CNCo is an established and well-respected company in bulk shipping that is on a growth course in this segment and therefore constitutes a good new home for RAO, Furness Withy and Aliança Bulk.”
The Hamburg Süd Bulk Shipping Division comprises of a chartered fleet of approximately 45 vessels in the segments: Handysize, Supra/Ultramax and Kamsarmax/Panamax, and operates from Hamburg, London, Melbourne and Rio de Janeiro.
The wholly owned deep-sea ship owning and operating division of the multinational Swire Group, CNCo employs around 2,500 employees globally with their headquarters in Singapore. The company owns and operates about 135 vessels consisting mainly of dry bulk carriers and multipurpose liner vessels.
Managing Director for The China Navigation Company, James Woodrow said, “CNCo is excited to have successfully signed this acquisition”, Mr. Woodrow continued, “There are some very natural synergies between the businesses and we are delighted to acquire such an experienced and high-quality team and business that complements our own modern eco fleet and helps to develop our strategic expansion in to the Supra/Ultramax segment. We share a strong corporate culture with a rich history spanning close to 150 years between Hamburg Sud (1871), The China Navigation Company (1872) and Furness Withy (1891) that demonstrates a shared vision and long-term commitment to the Maritime Industry.“