Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft A/S & Co KG, commonly known as Hamburg Süd, one of the ten largest container shipping brands in the world along with the Swire Group subsidiary The China Navigation Company (CNCo) have received regulatory approval and completed the transfer of RAO and the bulk activities in Furness Withy and Aliança Navegação e Logística to CNCo.
The official announcement of the sale was announced in January 2019, the RAO Tankers business unit will remain part of the Hamburg Süd Group.
The dry bulk units will remain as they are as CNCo plans to keep the Hamburg, London, Melbourne and Rio de Janeiro offices along with retaining all current employees. CNCo will inherit a chartered fleet of approximately 45 vessels in the handysize, Supramax/Ultramax and Kamsarmax/Panamax segments.
Hamburg Süd CEO, Dr. Arnt Vespermann said, “With this strategic step, Hamburg Süd – as part of the Maersk family – will now be focusing on the container shipping business, our bulk business has been an integral part of our company and success for more than six decades, and today we would like to thank our colleagues for everything they have done for the company. At the same time, we are pleased to have found China Navigation to be the new, perfectly matching owner of our former dry-bulk operations.”
CNCo Managing Director, James Woodrow said, “We are delighted to receive regulatory approval and to welcome on board a very talented and highly experienced team. The natural synergies between the businesses, skills and expertise of the new teams will complement those we have at CNCo. This will in turn help to develop our strategic expansion in the larger segments.”