MAERSK MAY BUY HAMBURG-SUD

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Maersk tipped to buy Hamburg Süd

November 29th, 2016 Sam Chambers Containers, Europe 1 comments

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The Wall Street Journal is reporting Maersk Line is lining up a bid for the world’s seventh largest containerline, Hamburg Sud.
The owners of the German line are understood to be willing to sell the line amid massive consolidation seen this year in the container shipping sector. Hamburg Sud does not belong to any existing or future container alliance.
Hamburg Süd is part of the Oetker Group, a family-owned German conglomerate involved in shipping, banking, food and beverages.
Hamburg Süd has a fleet of around 130 boxships totaling some 600,000 teu in its fleet which VesselsValue estimates is worth $1.4bn.

Maersk has recently said it is after acquisitions rather than ordering new ships. Its last containerline acquisition was back in 2005 when it bought P&O Nedlloyd.
Both Hapag-Lloyd and Cosco have previously been linked with buying Hamburg Süd, a line with an especially strong presence in Latin America.