Following the merger of Hapag-Lloyd and CSAV, a second acquisition is[ds_preview] imminent at the end of this year concerning North-South routes. Germany’s second largest shipping line Hamburg Süd recently announced to have made a tentative agreement with the management of the Chilean competitor CCNI. This involves the acquisition of the container division – all other segments such as Car Carrier Transport Services and ship-owning companies remain at CCNI. »After conducting due diligence, the completion of the purchase agreement and approvals from the relevant authorities, the takeover is planned for no later than 31 December 2014,« Hamburg Süd announced. Financial details were not disclosed.
The transaction is expected to be a direct response to the merger of Hapag-Lloyd and CSAV which also relates to the North-South traffic. If the acquisition of CCNI succeeds, Hamburg Süd would increase its global market share from 2.7% to 3.0%.
