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MAERSK LINE TO BUY HAMBURG SüD FOR USD 4 BN

The Denmark-based shipping giant Maersk Line and German carrier Hamburg Süd, a part of the Oetker Group, have received an approval from their respective boards for the previously agreed sale and purchase deal.

Maersk Line said it will acquire Hamburg Süd for EUR 3.7 billion (USD 4 billion) on a cash and debt-free basis, adding that it plans to fully finance the acquisition through a syndicated loan facility which has already been established.

The acquisition still remains subject to regulatory approvals. The proposed acquisition received an approval from the US Department of Justice on March 23, 2017, while the the EU Commission approved the deal on April 10, 2017, subject to conditions.

Maersk Line A/S expects to close the transaction end 2017. Until then, Hamburg Süd and Maersk Line will continue business as usual as separate and independent companies.

The deal is expected to generate annual operational synergies of around USD 350-400 million as from 2019, primarily derived from integrating and optimising the vessel networks as well as utilising the terminal capacity in APM Terminals.

“Today, we have taken a decisive step towards the shared future of Maersk Line and Hamburg Süd,”Søren Skou, CEO of Maersk Line and A.P. Moller – Maersk, said.

“The acquisition is cementing our position as the largest and leading carrier in container shipping, and it will provide great opportunities for the employees of both companies,” Skou added.

The latest move comes on the back of an agreement reached between the Danish container carrier and the Oetker Group at the start of December 2016.

Under the combined network, the parties plan to offer an increased number of weekly sailings, faster transit times, more port calls, more direct port-to-port calls and less need for transhipment.

With the acquisition, Maersk Line and Hamburg Süd will have a total container capacity of around 3.9 million TEU (3.3 million TEU) and an 18.7% (16%) global capacity share. The combined fleet will consist of 743 container vessels.

Source: http://worldmaritimenews.com

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CONTAINER SHIPPING LINES SIGN UP WITH ALIBABA TO OFFER ONLINE BOOKING

SHANGHAI — Two container shipping lines, France’s CMA CGM and Israel’s Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn.

Container lines, facing their worst ever downturn due to a glut of ships and weaker demand, are pursuing several measures such as vessel-sharing arrangements or mergers and acquisitions to ride out the current slump. A growing number of logistics firms are going online to buoy their business.

In December, Maersk – the world’s largest container shipping line and a unit of Denmark’s A.P. Moller-Maersk – started offering online booking services to Chinese shippers on Alibaba’s OneTouch website.

Shippers traditionally go through freight forwarders to book space for goods on container vessels, but more liners are allowing cargo owners to book directly via the internet. As for e-commerce companies, they are venturing into logistics to try to gain better control over their supply chain networks.

“Alibaba.com is open to collaborating with logistics firms who want to join our platform which aims to streamline the logistics process for small and medium-sized enterprises and empower them to seize cross-border trade opportunities,” an Alibaba spokeswoman told Reuters in an e-mail on Thursday.

Israeli shipping line Zim, which is 32 percent owned by Kenon Holdings, has begun allowing customers to book space through the platform on routes such as Shanghai to India and Pakistan, or from Xiamen to South America, according to advertisements posted on the OneTouch platform.

France’s CMA CGM has signed a memorandum of understanding with Alibaba to begin cooperating on the OneTouch platform for routes such as Qingdao to Barcelona or Ningbo to Venice, it said in a statement.

Acquired by Alibaba in 2010, OneTouch targets small and medium-sized Chinese exporters with online services such as customs clearance and logistics. It also allows them to book air freight and parcel delivery services and supports its parent Alibaba.com’s business-to-business marketplace.

Maersk has begun offering a similar service to customers of online freight forwarding website Yun Qu Na, it said in an e-mail to Reuters on Thursday. The liner said in January that it planned to launch more pilot programs on third party portals.

(Reporting by Brenda Goh; Editing by Himani Sarkar)
Source: https://www.nytimes.com/