Hamburg Süd for Sale?
Speculations about an upcoming sale of Hamburg Süd have intensified in the market, says a report in WSJ.
Hamburg Sud, the seventh-largest container-shipping operator world-wide in terms of capacity, is part of the Oetker Group, a family-owned German conglomerate, involved in shipping, banking, food and beverages.
The Oetker family is discussing a sale of the shipping business, but no decision has been reached, one of the people said. “If a sale is decided, the process could start before the end of the year,” the person said.
The price may seem high but the biggest obstacle could be the internal power struggle in the Oetker family, says some report.
In its latest earnings statement, Hamburg Sud said it had revenue of $6.73 billion in 2015, but gave no net-income figures.
The company has 3% share of global container capacity, according to data provider Alphaliner, moving 600,000 containers aboard around 70 ships.
Hamburg Sud’s fleet is valued at roughly $1.4 billion, according to VesselsValue, another maritime data provider.