Denmark-based Maersk Line has completed the acquisition of German container shipping line Hamburg Süd.
In December 2016, Maersk Line signed an agreement with Oetker Group to acquire Hamburg Süd for around €3.75bn.
In April this year, European Commission (EC) approved the acquisition of German container shipping line Hamburg Süd.
The EC approval was based on the condition, including withdrawal of Hamburg Süd from five consortia on trade routes connecting Northern Europe and Central America/Caribbean.
Hamburg Süd operates 130 container vessels with a container capacity of 625,000 TEU (twenty-foot equivalent).
With around 5,960 employees in more than 250 offices across the world, the company commercializes its services through Hamburg Süd, Chile-based CCNI and Brazil-based Aliança brands.
A.P. Møller Foundation chairman Ane Mærsk Mc-Kinney Uggla said: “I am pleased to express our sincere welcome wishes to every one of our new colleagues from Hamburg Süd.
“To have Hamburg Süd, with its great history and dedicated team, as part of our company gives us pride. The company you are now joining has, like Hamburg Süd, a strong heritage in shipping as well as a tradition for value-based leadership, where our values are guidelines for each individual employee, all over the world, at sea and onshore.”
Hamburg Süd chairman Ottmar Gast said: “With a wealth of experience in Maersk Line and Hamburg Süd, there is so much we can achieve by sharing knowledge and exchanging best practices between our businesses.”
Maersk Line offers ocean transportation services through 611 container vessels. It has 317 offices in 112 countries.
Image: Maersk Line has completed the acquisition of German container shipping line Hamburg Süd. Photo:courtesy ofVivian Koblinsky.