By Mark Edward Nero
Danish shipping company Maersk Line says it has reached an agreement to acquire German container shipping line Hamburg Süd.
“Giving up our engagement in shipping after an 80 year-long ownership in Hamburg Süd was not an easy decision for my family,” said Dr. August Oetker, Chairman of the Advisory Board of the management holding company of the Oetker Group. “We are very confident, though, to have chosen the best of all possible partners.”
“Maersk will preserve and grow Hamburg Süd and what the brand and the whole organization and a highly dedicated workforce stand for: reliable and high quality logistical services to our customers,” Oetker said.
Hamburg Süd is the world’s seventh largest container shipping line and a leader in the North-South trades. The company operates 130 container vessels with a container capacity of 625,000 TEUs. It has 5,960 employees in more than 250 offices across the world.
“Today is a new milestone in Maersk Line’s history,” Maersk Line and Maersk Group CEO Søren Skou said. “I am very pleased that we have reached an agreement with the Oetker Group to acquire Hamburg Süd. 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.”
In a prepared statement, Dr. Ottmar Gast, Chairman of the Executive Board of the Hamburg Süd Group said his company was proud to join Maersk Line.
“While gaining access to a superior network and systems we will continue the Hamburg Süd brand and business model offering personalized solutions to our shippers and consignees,” he said. “By joining forces both Maersk and Hamburg Süd will strengthen their product portfolio and cost position to the benefit of their customers.”