Denmark-based shipping company Maersk Line has agreed to acquire German container shipping line Hamburg Süd from its owner Oetker Group, for an undisclosed sum.
Subject to final agreement and regulatory approvals, the deal is expected to be complete by the end of next year.
With 130 container vessels and a container capacity of 625,000 twenty-foot equivalent (TEU), Hamburg Süd operates in the north–south trade routes.
The company currently employs 5,960 people in more than 250 offices worldwide, and markets its services through Hamburg Süd; CCNI, based in Chile; and Brazil-based Aliança brands.
Maersk Line CEO Søren Skou said: “The acquisition of Hamburg Süd is in line with our growth strategy and will increase the volumes of both Maersk Line and APM Terminals.
“Hamburg Süd and Aliança have competitive and attractive customer value propositions, which we want to preserve and protect.
“We wish to maintain the personal touch and engagement they offer their customers. In short, Hamburg Süd and Aliança customers will also be Hamburg Süd and Aliança customers in the future.”
Upon completion of the acquisition, Hamburg Süd and Aliança will continue to operate as separate brands and will continue to serve customers through their local offices.
The combined network of Maersk Line and Hamburg Süd will help the former to develop new products with more direct port calls and shorter transit times.
The deal will also bring Maersk Line’s container capacity to around 3.8 million TEU and container fleet capacity to 741 vessels.
In September, APM Terminals, a part of Maersk Group, announced its plan to buy a majority stake in Spanish container terminal operator Grup Maritim TCB.
Image: Maersk Line acquires container shipping line Hamburg Süd. Photo: courtesy of Maersk Group.