Maersk to Get Decision on Hamburg Süd Deal by March 27

Image Courtesy: Hamburg Süd

Danish shipping giant Maersk Line is scheduled to receive the EU antitrust regulator’s decision on the company’s plan to purchase the Germany-based Hamburg Süd by March 27, according to Reuters.

The deal, reached at the beginning of December 2016 amid a consolidation period in the industry, was filed to the European Commission on February 20.

Reuters informed that the EU competition can extend the review by some two weeks or open a five-month investigation, adding that the Danish carrier might be asked to end its membership in some shipping alliances in order to receive the approval for the Hamburg Süd deal.

A.P. Møller – Mærsk A/S, the parent company of Maersk Line, earlier said that it expects to close the transaction by the end of 2017.

“With this acquisition, Maersk Line follows the strategy announced on September 22, 2016 to grow market share organically and through acquisitions. Acquiring Hamburg Süd will create a unique opportunity for further development of Maersk Line’s business to the benefit of customers, employees as well as shareholders,” Maersk Line said in December.

Hamburg Süd, which operates 130 container vessels with a container capacity of 625,000 TEUs, is the world’s seventh largest container shipping line.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >