Maersk Line officially closed on its $4.3 billion acquisition of Hamburg Süd Group on Wednesday after first announcing the decision exactly one year ago.
“Under this new umbrella, we can strengthen Hamburg Süd’s position worldwide in a challenging market environment, improve our market position, and offer our customers many advantages,” Dr. Arnt Vespermann, new chief executive officer Hamburg Süd, said in a statement.
Maersk received regulatory approval for the acquisition in 23 jurisdictions, most recently from the Korea Fair Trade Commission on Nov. 28.
“With the final approval of the acquisition we have reached an important milestone in our strategy to become an integrated transport and logistics company delivering sustainable growth. These are truly exciting times and we are looking forward to taking the first steps forward as one company,” said Søren Skou, CEO of A.P. Moller-Maersk.
Combined, the two companies will be able to garner $350 to $400 million annually from operations starting in 2019, Maersk said. At the time of the initial acquisition announcement, Maersk said the deal will boost the Danish carrier’s overall fleet capacity from 3.14 million TEUs to 3.76 million TEUs, growing its share of the world container fleet from 15.7 percent to 18.6 percent. That estimate has grown to a total container capacity of 4.15 million TEUs and a 19.3 percent global fleet capacity share, according to recent data from Alphaliner. Hamburg Sud will contribute 105 vessels to Maersk’s fleet, bringing the combined total to will 773 vessels (owned and chartered).
Hamburg Süd said it will remain a commercially independent company with its own Sales and Marketing, Customer Service, and auxiliary departments such as IT, Human Resources, and Finance and Accounting.
“Our customers will continue to be very clearly front and center for us in the future, too,” said Vespermann. “For them, there will be no change in the product they are accustomed to receiving from us. The success of Hamburg Süd in its almost 150-year history is based on the great experience and expertise of our employees, our deep understanding of the markets and the needs of our customers, as well as the high product quality we deliver to them. We are now offering our customers one of the industry’s most comprehensive, global liner networks, coupled with Hamburg Süd’s well-known quality service.”
The product range of the Brazilian cabotage line Aliança will continue unchanged, said Hamburg Sud, and the subsidiaries operating in the tramp sector – Rudolf A. Oetker (RAO), Aliança Bulk (Aliabulk), and Furness Withy Chartering – as well as the Hamburg Süd Travel Agency, will also carry on their business activities as before, said the shipping line.
Wednesday also saw the christening of the latest Hamburg Süd ship Polar Costa Rica in Shanghai, with Chairman of the Advisory Board Dr. h. c. August Oetker, symbolically handing over Hamburg Süd to Ane Maersk Mc-Kinney Uggla, Chairwoman of the A.P. Moller Foundation and Vice Chairwoman of A.P. Møller – Mærsk A/S.
Vespermann superseded as CEO the long-standing previous Chairman of the Executive Board, Dr. Ottmar Gast, who will continue to be closely associated with the company in the future as Chairman of the Advisory Board which will also consist of Søren Toft, Executive Vice President and Chief Operating Officer A.P. Moller – Maersk and Executive Board Member of A.P. Moller – Maersk, said Hamburg Sud.
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