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Maersk to buy German shipping line Hamburg Sud

Maersk to buy German shipping line Hamburg Sud

 

Maersk Line, the world's biggest shipping company, is to buy smaller rival Hamburg Süd, joining a wave of M&A in the industry just over two months after the Danish company revealed plans to bolster its transport operations.

The deal, announced by parent A.P. Moller-Maersk (MAERSKb.CO) on Thursday, is the group's first full takeover in more than a decade and highlights a consolidation drive in container shipping, which has been grappling with low freight rates and oversupply.

It also follows Maersk's new boss Soren Skou's move to focus on transport and logistics and spin off the company's energy operations.


By Jacob Gronholt-Pedersen | COPENHAGEN
http://www.reuters.com/article/us-hamburgsud-m-a-maersk-idUSKBN13Q3U5

 

 

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