Maersk Line to buy Hamburg Süd

In latest consolidation in container shipping Maersk Line is to acquire the world’s seventh largest container line Hamburg Süd.

The deal follows a week of speculation about the future of Hamburg headquartered-line owned 100\% by the Oekter Group.

“Today is a new milestone in Maersk Line’s history. I am very pleased that we have reached an agreement with the Oetker Group to acquire Hamburg Süd,” said Søren Skou, ceo of Maersk Line and the Maersk Group.

“Hamburg Süd is a very well-run and highly respected company with strong brands, dedicated employees and loyal customers. Hamburg Süd complements Maersk Line and together we can offer our customers the best of two worlds, first of all in the North – South trades.”

The German line has 130 vessels with a total capacity of 625,000 teu.

Financial details of the deal were not disclosed. The acquisition is subject to final agreement, due diligence and regulatory approvals.

“The acquisition of Hamburg Süd is in line with our growth strategy and will increase the volumes of both Maersk Line and APM Terminals,” Skou said.

Hamburg Süd and Aliança, which Oetker Group acquired in 1998, will continue as separate brands and continue to serve customers through their local offices.

Upon combining their network, the two lines will have access to dedicated end-to-end services provided by Hamburg Süd in the North-South trades, as well as the flexibility and reach offered by Maersk Line’s global network.

With the acquisition, Maersk Line will have container capacity of around 3.8m teu and an 18.6\% global capacity share. The combined fleet will consist of 741 container vessels with an average age of 8.7 years.
 
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