Hamburg Süd’s bulk shipping brands include Rudolf A. Oetker
(RAO), Furness Withy Chartering and the bulk activities in Alianca Navegacão (Aliabulk).
The RAO Tankers business unit is not included in the sale and will remain part
of the Hamburg Süd Group for the time being.
The bulk shipping business in Hamburg Süd operates from
Hamburg, London, Melbourne and Rio de Janeiro with a chartered fleet of
approximately 45 vessels in the segments: Handysize, Supra/Ultramax and
“With this step, Hamburg Süd is focusing as planned on its
liner business with its two container shipping brands, Hamburg Süd and
Aliança,” says Dr. Arnt Vespermann, CEO of Hamburg Süd.
“As part of Maersk, the world’s largest liner shipping
company, this clear focus is a logical step. At the same time, CNCo is an
established and well-respected company in bulk shipping that is on a growth
course in this segment and therefore constitutes a good new home for RAO,
Furness Withy and Aliança Bulk.”
Headquartered in Singapore, CNCo owns and operates about 135
vessels consisting mainly of dry bulk carriers and multipurpose liner vessels.
Swire Bulk, its dry bulk trading business, established in 2012, trades a fleet
of over 100 Handysize and Supra/Ultramax vessels comprising owned, long term
and short term-chartered tonnage.
“CNCo is excited to have successfully signed this
acquisition,” commented James Woodrow, Managing Director of The China
“There are some very natural synergies between the
businesses and we are delighted to acquire such an experienced and high-quality
team and business that complements our own modern eco fleet and helps to
develop our strategic expansion in to the Supra/Ultramax segment.”
Closing of the agreement is expected by the end of the first
quarter of 2019, subject to regulatory approval. The parties have agreed not to
disclose the sales price.