Maersk Line, Hamburg Süd Enter East-West Slot Purchase Deal
Image Courtesy Hamburg SüdDanish shipping giant Maersk Line and German container shipping line Hamburg Süd have reached a slot purchase agreement for Hamburg Süd’s volumes on the East-West trades to be shipped on vessels in the 2M network.
Due to changes in the global liner alliances, the agreement follows commercial negotiations in anticipation of the termination of Hamburg Süd’s current slot purchase arrangements on the East-West trades.
The agreement is scheduled to begin on April 1, subject to maritime filing requirements being satisfied.
It covers the Asia-North Europe, Asia-Mediterranean, Trans Atlantic and Trans Pacific trades. Maersk Line and Hamburg Süd are party to a number of such operational agreements worldwide. The parties said that the agreement is not related to Maersk Line’s acquisition of Hamburg Süd.
“Accommodating these additional volumes enables improved utilisation in our fleet and in turn provides opportunities to enhance our customer offering on select trades in our East-West network,” Søren Toft, Chief Operating Officer, Maersk Line, said.
The parties added that they will disclose information about network changes and schedules in the coming week.
In early December 2016, Maersk Line and the Oetker Group reached an agreement for Maersk Line to acquire Hamburg Süd.
Subject to final agreement and regulatory approvals, the transaction is expected to close by the end of 2017, Maersk Line informed.
