China Navigation snaps up part of Hamburg Süd
The China Navigation Company (CNCo), a Swire Group subsidiary, and Hamburg Süd, a Maersk affiliate, have come to an agreement. Cnco will acquire Hamburg Süd's bulk shipping business which includes Rudolf A. Oetker (RAO), Furness Withy Chartering and Alianca Navegacão (Aliabulk)'s bulk activities.
Hamburg Süd's bulk shipping business operates from Hamburg, London, Melbourne and Rio de Janeiro with a chartered fleet of approximately 45 vessels in the handysize, supra/ultramax and kamsarmax/panamax segments.
"Hamburg Süd is focussing as planned on its liner business with its two container shipping brands, Hamburg Süd and Aliança,” said Arnt Vespermann, CEO of Hamburg Süd.
Headquartered in Singapore, CNCo is the wholly owned deep-sea ship owning and operating division of the multinational Swire Group. Today, the company employs around 2,500 employees globally and owns and operates about 135 vessels mainly consisting of dry bulk carriers and multipurpose liner vessels. (kd)