Hamburg Süd and the China Navigation Company, which is part of the Swire Group, completed the sale of Hamburg Süd’s dry bulk shipping business, which includes Rudolf A. Oetker (RAO) and the bulk activities in Furness Withy (London and Melbourne) and Aliança Navegação e Logística, to China Navigation Company.
Mainly, the event of the sale was announced for the first time in January, after receiving regulatory approval.
According to Hamburg Süd, the RAO Tankers part is not for sale, as it is excluded from the agreement. Therefore, it will remain in the company’s occupation.
Dr. Arnt Vespermann, CEO of Hamburg Süd, commented on the incident that
With this strategic step, Hamburg Süd – as part of the Maersk family – will now be focusing on the container shipping business.
The affected dry bulk shipping sectors, with offices located in Hamburg, London, Melbourne and Rio de Janeiro, have a chartered fleet of about 45 vessels in the handysize, supramax/ultramax and kamsarmax/panamax segments.
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Despite the purchase of the dry bulk company, China Navigation plans to keep the already existent offices and staff.
Moreover, James Woodrow, Managing Director of China Navigation stated that they are happy to receive regulatory approval and partner with the highly experienced team of Hamburg Süd.
He continued that the collaboration is ideal because of the natural synergies between the businesses, as the skills and expertise of the new teams will complement those of China Navigation’s.
Concluding, Woodrow reported that the purchase of the company will enable China Navigation to develop its strategic expansion in the larger segments.
