Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals. 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 TEU (twenty-foot equivalent). It has 5,960 employees in more than 250 offices across the world and market its services through the Hamburg Süd, CCNI (based in Chile) and Aliança (based in Brazil) brands. In 2015, Hamburg Süd had a turnover of USD 6,726 million of which USD 6,261 million stems from its container line activities. "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. 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," says Søren Skou, CEO of Maersk Line and the Maersk Group. "We are proud to join the global market leader Maersk Line
Maersk Line today published its Sustainability Progress Update for 2013, showing a 3.8 million tonnes CO2 reduction in a year where the business grew 4.1%. “2013 was a good year for Maersk Line – financially as well as in terms of our sustainability performance” says Søren Skou, CEO of Maersk Line. “Our fuel efficiency improvements helped cut CO2 as well as air pollutants like SOx and NOx
The slot charter agreement between Horizon Lines and Maersk Line on the Trans-Pacific 1 (TP1) service will cease in December 2010. This weekly service currently calls Yantian, Xiamen, Kaohsiuing, Los Angeles, Oakland, Honolulu and Guam. Horizon Lines operates five vessels in this service. Maersk Line has been utilizing the entire 1100 FFE capacity eastbound, and uses a small amount of space on the westbound rotation. Empty westbound Maersk Line containers are utilized by Horizon Lines for
As part of Maersk Line's drive to cut sulphur emissions from its fleet towards zero, the shipping line continues to expand on its fuel-switch implementations. Today the programme is implemented in New Zealand. Switching from bunker to low-sulphur fuel in New Zealand reduces sulphur to the air by 80-95% in port. The reduction is in this case nine-fold. As a first in the industry, Maersk Line applies its fuel switch programme to a country
The P3 Network will not be implemented following decision by the Ministry of Commerce (MOFCOM) in China Today, the Ministry of Commerce (MOFCOM) in China announced that they have not given their approval to the P3 Network. On March 24, 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the U.S., and on June 3, 2014, the European Commission informed the P3 partners that it had decided not to open an antitrust investigation
Maersk Line said it has achieved improved results in the third quarter of 2014 (Q3) through lower costs and increased rates. Revenue in Q3 was $7.074 million, as volumes increased by 3.7% to 2.4 million FFE. Maersk Line said its strategy is to grow with the market and the increase is in line with the above 3% market growth. Søren Skou, CEO of Maersk Line, said, “I am very satisfied with the result. Not least our return on invested capital is satisfactory and again above our
Hamburg Süd, Maersk Line, and NYK announced that they have reached agreement to operate jointly in the trade between Asia, South Africa, and South America. From mid April, the linew will replace the current three strings (one operated by Maersk Line and two operated by Hamburg Süd and NYK) by two strings with modern and fast vessels. The overall capacity produced by the new two string system is roughly the same as the capacity presently provided by the three Lines
Maersk Line announced that with effect from December 1, it will switch its Polish operations from BCT in to the new deepwater container terminal DCT Gdansk. Maersk Line said: “After many years of good cooperation with BCT Gdynia, the time has come to explore new possibilities with DCT Gdansk, allowing Maersk Line to continue to offer its customers a reliable product while maintaining a high level of efficiency and cost effectiveness.
The Chinese Ministry of Commerce (MOFCOM) yesterday announced that they have not approved the P3 Network (P3). P3 was a long-term operational vessel sharing agreement proposed by MSC, CMA CGM, and Maersk Line. The MOFCOM’s decision follows a review under China's merger control rules. The P3 partners take note of and respect MOFCOM’s decision. Subsequently, the partners have agreed to stop the preparatory work on the P3 Network and the P3 Network as initially planned will not
Mesawa service will improve transit time into Pointe Noire, Matadi and Libreville Maersk Line to focus on increasing market share into these territories The enhanced Mesawa service called on Mundra Port, on the 8th of March, 2016 To call on JNPT on 11th of March and Colombo on the 13th of March Mumbai, 10th March, 2016: Maersk Line has announced its improved Mesawa service with direct calls into Pointe Noire in Africa
Bloomberg quoted Robbert van Trooijen, APAC CEO of Maersk Line, saying that the current year (2017) will be more profitable than the last. Post-Hanjin, ocean freight customers now stressing stability and avoiding risk to supply chains, not just rates, he said.
Maersk Line introduces a new service – the AE7 – on the Asia-North Europe trade and a new service – the TP16 – on the Transpacific trade. The new services will enable MSC and Maersk Line to accommodate the incoming volumes from the recently announced slot purchase
The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017. The reinstatement of the program follows the implementation of comprehensive new policies
EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line's bid for German rival Hamburg Sud, its first major deal for more than a decade. The deal, one of several in a sector seeking consolidation to offset low freight rates and oversupply
Heavily indebted South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance to form a cooperative relationship that falls short of full-fledged membership. Joining an alliance with major shipping firms was one of the
Maersk Line today launched a mobile app to manage and track cargo on the move. This app will allow users access to comprehensive information on shipments, track cargo in real time, check schedules, changes in destination and documentation.
Ship recyclers in India and China will recycle eight vessels owned by Maersk Line. The ship recyclers have agreed in full to the A.P. Moller - Maersk Responsible Ship Recycling Standard. The deal gives Maersk Line greater fleet flexibility and vessels will be transferred to the
The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea. It appears that the strategy of Maersk Line, the world’s largest shipping group which cuts down
Danish container shipping company Maersk Line has added Iranian Port of Bushehr to its services, expanding its presence in this Middle-Eastern country. The new port specializes in feeder transport facilities. From Jebel Ali in the United Arab Emirates
Maersk Line saw a 21 percent jump in cargo volumes in Mexico between January and October 2016 compared with the year-earlier period, says a report by T21. Mexico is expected to be one of the main beneficiaries of the newly expanded Panama Canal and its infrastructure is undergoing a
Chinese conglomerate Cosco Group is in talks to acquire smaller rival Hong Kong-based rival Orient Overseas Container Line Co. ( OOCL), Chinese media outlet Caixin reported quoting people familiar with the matter. The state-owned China COSCO will compete with Evergreen Marine Corp
Container shippers Maersk Line and Hamburg Süd announced a slot purchase agreement for Hamburg Süd’s volumes on the East–West trades to be shipped on vessels in the 2M network. Maersk Line acquired Hamburg Süd in December 2016
Net operating loss after tax of $2.7 bln means dividend cut. Chairman to step down at end of March. A.P. Moller-Maersk missed fourth-quarter profit expectations on Wednesday as the world's largest shipping company pressed on with changes, taking impairments
Maersk Line reported a 2016 result that is USD 1,679 million lower than the 2015 result (USD 1,303 million). The overriding reason for the loss is a 19% decline in freight rates compared to 2015. Revenue was USD 20.7 billion, which is 13% lower than 2015 (USD 23.7bn).
Last year saw a huge amount of change in the under pressure container shipping sector, according to Clarksons Research report. In particular, the ongoing consolidation of the sector in one form or another grabbed the headlines. To put this into context